A new insurance policy specifically aimed at the iPhone has been introduced.

For just £5.99 per month you can protect your gadget from accidental damage, theft and water damage.

The price also covers all types of the Apple iPhone including the iPhone 4. It also includes coverage anywhere in the world plus up to £100 of unauthorised calls made from someone stealing the device and using it.

Protect Your Bubble also promises to replace your phone within 48 hours of something happening to it. The company also stated that phones that are sent to customers are brand new handsets and not reconditioned ones.

Along with this insurance service the company also offers a backup service for texts and phone contacts. This costs just an extra £1.

At the current price of the iPhone the insurance cover is probably something of a bargain. Mobile phone commentators also say that it is probably wise to take up something like this as the warranty provided by Apple is likely to run out before an upgrade to a new handset becomes available.

In other iPhone news, Proporta who make mobile phone covers have released a range of cases for the iPhone 4.  Called Shine cases, they are available in red, blue or black leather and come with a make up mirror and cost £24.99.