A new rumor claims Sprint is planning on launching Total Equipment Protection (TEP) for its iPhone handset.

The news comes from SprintFeed, who explains:

For those unfamiliar with TEP, it’s an insurance program with a monthly premium of $8 a month which covers your device in the event of it being lost, stolen, or damaged.

Already, iPhone owners have the option of purchasing AppleCare+. This extended warranty offering provides new users with up to two accidental damage repairs (each subject to a $49 servicing fee) for a one-time payment of $99. Apparently, like AppleCare+, Sprint’s TEP will have to be purchased within a 30 day window, and the carrier’s regular Total Equipment Protection covers mechanical damage, accidental damage, loss and theft for $8/month. This places the price of two years of cover at $192, compared with $99 for AppleCare+’s two-year coverage.

Nothing has yet been announced by Sprint – we’ll let you know if the carrier speaks out regarding TEP for iPhone. In the meantime, you can check out the original article over at SprintFeed.