Just found out that after spending $9.99 a month for 4 years on AT&T's insurance program, that it was a waste and that the insurance plan is a joke. Everyone save their money, you get NOTHING for it.
Many different insurance plans are plans which are just profit centers for the underwriters (in the case of AT&T that is generally Asurion).
The insurance policy has a deductible, and has other terms and conditions. You should always fully understand these before you subscribe to any insurance plan. The one for the iPhone could save you several hundred dollars if you need to submit a qualified claim, so it is up to each individual as to whether it's worth it or not.
*The views and opinions expressed on this forum are purely my own. Any product claim, statistic, quote, or other representation about a product or service should be verified with the manufacturer, provider, or party.