Tile’s tracking devices are meant to help you find things. But sometimes bad things happen and we lose those things. The company’s new subscription service is designed to help with those moments.

As first reported by Engadget, Tile is introducing a new subscription service that will offer up a reimbursement for lost items. It’s called Premium Protect, and it will reimburse you up to $1,000 per year if you lose an item that was tracked by a Tile accessory. It’s not free, though, and you’ll need to fork over $100 a year for access.

The important part here is the coverage. This is not an insurance policy on your devices and other items, rather a policy on the Tile network itself. So, even if you technically lose an item tracked by Tile, but Tile can still locate it, you won’t get reimbursed for it:

That might sound a little like insurance but, according to the company, it isn’t. Instead, Tile says that Premium Protect is a service warranty on the Tile network, and not an insurance policy on the item itself. That’s why if the Tile network is able to locate the item, but you’re unable to safely retrieve it (say it’s in the bottom of a ravine, or in a particularly dangerous area), then the company wouldn’t be able to reimburse you for the item. But, if the Tile app gives you erroneous information like an incorrect address, or if you go to the location and are unable to ring your Tile, you can still file a claim for review.

It’s worth noting that this service covers devices that Tile is built into, as well. It doesn’t have to be a device or other item that you’ve attached a Tile tracker to. So for devices like the SkullCandy earbuds and HP Elite Dragonfly laptop, where Tile is built in, the service also covers these devices.

Premium Protect is an added bonus to the existing Premium option, which retails for $30. With that Premium plan you get free battery replacements, extended location history, smart alerts, and more. With the Premium Protect addition, you get that extra coverage for a bit more money every year.

So, what about AirTags? You remember these oft-rumored accessories, right? This is Apple’s answer to the accessory-tracking market, of which Tile still leads. Of course Engadget was going to ask about the potential arrival of AirTags and the disruption of the market it could entail.

Tile’s CEO, CJ Prober, had this to say about that:

Tile is for everyone,” said Prober, when asked about Apple’s AirTags. “Our customers aren’t forced to choose a single platform and are advantaged by Tile being system-agnostic. We work with Android, Apple and other platforms people are already using and want to use to help find their lost stuff.”

Don’t forget that Tile, among other companies, has leveled complaints against Apple of its abusing its power in the market.

AirTags will probably debut in October, alongside the launch of the iPhone 12 lineup. It will be interesting to see what Apple brings to the table, especially in light of this new premium subscription offering from Tile.

If AirTags do launch next month, are you planning on picking up the accessory tracker?