Best Buy Offering Insurance for iPhone 3G S?

AppleInsider reports that Best Buy may be offering insurance to customers purchasing the iPhone 3G S. The insurance will be covered with Geek Squad Black Tie Protection and will most likely be very pricey.

Insurance for normal cell phones at Best Buy cost customers $7 to $10 a month, but with the iPhone 3G S, the price will be raised to $15 a month. The reason why the monthly fee is so high is most likely because of the full retail price of the iPhone 3G S at $599 and $699.

The insurance will cover all sorts of damages including broken screens, internal damages, etc. If your iPhone does happen to be damaged, you can take it to a local Best Buy store and they will either fix it for you or replace it with a new one.