Hey DJ, long time, hope all is well !
I don't know for sure but as AMEX Assurance would be asking for the receipt of purchase I am sure you are probably right, i.e. subsidized price is what they cover. This has always been an interesting perplexer in countries where the subsidy is so high in covering the phone. My thought here is that the only option is to cover with insurance so that you get your $299 (in your example) from AMEX assurance and would have to use carrier insurance to cover the GAP piece.
Of course if the issue occurs while under Applecare+ you are covered anyway irregardless of cost, just that 3rd year and beyond that could bite you. Unless of course the phone was stolen but then you should be covered by property insurance.
djrez4 wrote:Thanks for following up!
I see an iPhone 6 in my future. It will be purchased with Amex.
Let's toss another wrench in the gears:
My understanding is that subsidized phones only receive coverage to the amount paid. So, if I pay $299 for a subsidized 64gb iPhone and drop it, Amex will only cover up to $299 of the replacement cost. Any comment?