Protection plans for your new iPhone 7

The iPhone 7 will be availableSept. 16.Apple’s latest models cost between $649 forthe iPhone 7 32GB and $969 forthe iPhone 7 Plus 256GB.If you’re shelling out that kind of dough for a new smartphone,you’d be wise to protect your investment.

Each of the major wirelesscarriers sells basic cell phone insurance, most of them through a company called Asurion. Each also offers a premium protection plan, typically a basic insurance plan bundled with app and tech support.

Before you buy a plan, it’s best to understand what you’ll get. The basic insurance that your carrier offers is probably more than enough. It will cover you if your phone is lost, stolen or damaged. It also typically will replace your phone with the same model, although it may not be the same color, and it might not be new. Asurion uses both new and refurbished phones to fill claims.

Alternatives to your carrier’s insurance plan, such as AppleCare+ and SquareTrade, can save you more than $180 in monthly premiums for a single device over two years— and even more if you haveto make a claim — butneither covers lost or stolen phones.

Read on for details about AppleCare+, SquareTrade and the protection plans offered by each of the major carriers.