Apple (AAPL, Financial) has introduced a new subscription-based insurance plan called "AppleCare One," available in the U.S. Users can insure up to three devices for $20 per month, covering products like iPhone, iPad, Mac, and Vision Pro. This move underscores Apple's strategy to enhance service revenue, potentially attracting more users with multiple Apple devices.
AppleCare One offers coverage for accidental damage, battery replacement, 24/7 customer support, and compensation for lost or stolen devices. Users can replace lost items such as iPhones, iPads, or Apple Watches. Additional devices can be insured for $6 each without affecting the overall fee, irrespective of device models.
The protection provided by AppleCare One matches the current AppleCare+, covering phones, tablets, laptops, headphones, smartwatches, screens, set-top boxes, and HomePod speakers. Customers can purchase AppleCare One when buying new devices or for devices bought within the past four years, subject to diagnostic tests and validation.
AppleCare One complements, rather than replaces, AppleCare+, offering users more choices. The bundled insurance plan presents a more appealing option for owners of multiple Apple products. Apple anticipates that this new service will boost its subscription revenue, already Apple's second-largest revenue source after the iPhone, likely surpassing $100 billion this year.
