How do Square Trade and Best Buy iPhone insurance compare?

Just got an iPhone and am trying to decide what kind of insurance to get. They seem to cover the same things but Square Trade is less than half the cost of Best Buy.

Square trade is limited to 2 years, max. There's also a $50 deductible for each repair/replacement

Best Buy is as long as you want, or a 2 year plan. There's no deductible.

However, neither of them include theft or loss.

http://gizmodo.com/...ce-options