Being the resident “extreme” iPhone case enthusiast (and also the klutz who drops his phone most often), I was intrigued by the new cellhelmet Kickstarter project. This $44.99 case combines svelte design with protection against drops, but bundles it with an actual insurance policy that replaces your iPhone if damaged while in the case.

The case in and of itself isn’t magical, and according to David Artuso of cellhelmet creator cellpig.com, the case isn’t “superman.” The design has angled edges to protect against drops, and a choice of six different colored backplate shields to protect the glass, providing great protection without the bloat of other solutions.

What sets the cellhelmet apart is the bundled insurance policy, administered by Global Warranty Group. Should the iPhone break while in the case, a $50 handling fee covers any repairs required, or complete replacement if necessary. I’ve written about iPhone insurance before,  this case including the insurance for the $44.99 purchase price is what makes it interesting.

The plan does not cover water damage, nor does the case protect the water sensors, but according to gadget insurance provider SquareTrade, glass breakage accounts for 82 percent of its claims. The cellhelmet is competitive with SquareTrade’s own insurance program, but is slightly less expensive, applies even to used iPhones, and of course, comes with a case. Your iPhone has to be in the cellhelmet for its policy to apply, however.

Coverage lasts for one year from the time you purchase your cellhelmet, and should you ever have to claim a total device replacement, you’ll have to buy another cellhelmet, but that’s consistent with other third-party insurance programs. If all your device requires is a screen replacement after an accident, you get unlimited repairs.

For slightly more money than a stylish iPhone case, and slightly less than a third-party insurance program, you can get both by backing the Pittsburgh-based company’s project on Kickstarter. Not a bad deal, especially if you can’t seem to keep a firm grip on Apple’s beautiful but somewhat slippery smartphone designs.

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The study dealt with failure rates for a sample pool of over 15,000 new phones covered by SquareTrade warranties, which are after-market additional coverage packages. By the numbers, the iPhone had a 5.6 percent rate of malfunction, compared to BlackBerry’s 11.9 percent and the Palm Treo at 16.2 percent. Problems which counted as malfunctions according to the study included lockups and freezing, battery issues, Bluetooth/camera problems, antenna/case defects, screen/input method failures, call quality and power issues.

SquareTrade also projects failure rates up to the two-year mark. The two-year numbers are projections and not measured data because the iPhone had only been available for 15 months at the time the study was conducted. Projected totals see the gap between the iPhone and BlackBerry handsets decrease somewhat, but Apple’s device still comes away with the best score at 11.3 percent. BlackBerry is predicted at 14.3 percent and Palm comes in last at a fairly high 21.0 percent.

The iPhone’s second year numbers are much higher than both the BlackBerry and Palm devices, and this is where the study becomes questionable. SquareTrade is, after all, in the business of selling warranties for handsets, and it is in their best interest to predict a sharp increase in failures during the second year of ownership of a device which many people are just about to begin their second year of owning.

That said, the study’s findings that are based on firm, measurable data are interesting. The iPhone bosts a significant advantage in call quality, for instance, which is somewhat contrary to the persistent complaints of dropped calls over 3G.

Another area where the iPhone wins big is in battery problems, where both the BlackBerry and the Palm have more than double the number of complaints. Despite burning through a charge so quickly, Apple’s battery is apparently consistent and dependable.

All three companies posted high numbers in touchpad/screen/keypad problems, although Apple still came out lowest of all. Of problems reported, the vast majority of the iPhone’s were related to the touchscreen, which does not bode well for the durability of the relatively new interface tech over the life of the device.

The full study is available here (PDF) from SquareTrade.

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