Good morning and thank you vereyezuhn for that correct information!
MamaV, in addition to what vereyezuhn said, TEC, (Total Equipment Coverage), provides complete coverage against loss, theft, accidental damage, and defects after the manufacturer's warranty expires. (The manufacturer's warranty expires 12 months after purchase.) The insurance is through Asurion, a third-party licensed insurance agency.
To obtain a PDF version of Asurion's brochure to view all the terms and conditions, please view the following link: Asurion
You can also contact Asurion at 888-881-2622, for questions not answered in the brochure.
yes. you can call right now and drop it if you'd like to. or check in to other companies that offer insurance. i believe apple offers it directly from them for apple products. i don't carry insurance because i figure i've saved over ten years, more than it would cost to replace my phone.