If you’ve got something that’s important to you, then no one can ever say you were a fool to insure it.

Per Engadget, iPhone owners will be able to sign up for an Asurion Mobile Insurance plan for US$5 per month starting July 17th. The insurance plan can be added to the handset within 30 days of purchase and may include a deductible.

The documentation on AT&T’s website has not been updated to include the iPhone, although similar handsets have a US$125 replacement charge. This is a welcome change in plans for new iPhone owners as the previous insurance offering retailed for US$12 per month and included a substantial US$199 deductible.

If you’ve found a killer insurance outfit for your electronics, let us know in the comments.