SquareTrade Warranty

SquareTrade Warranty Review – Extended Warranties and Insurance For Gadgets & Electronics

AT A GLANCE

SquareTrade Warranty

squaretrade logoI’m not the typical iPhone user. My phone isn’t wrapped in plastic with six inches of rubber encasing it. In fact, it was going completely “naked” until just recently, when I gave in and put a minimalist bumper around it. I’ve had butter fingers lately, and I don’t want to take any chances since it costs a fortune to replace an iPhone.

With all of the new gadgets out there, and the prices only getting steeper, it’s easier than ever to end up with a pricey accident on your hands.

The average “urbanite” nowadays might be carrying a smartphone and an iPad or laptop with them while traveling to and from work. At home, he or she may have an LED TV, a desktop computer, and a home theater system. Taking care of all of this stuff is a challenge, and stores’ extended warranties never seem to make sense. In fact, many of them are just extensions of the limited manufacturer’s warranty that only covers defects and malfunctions.

Is there anything better out there that offers full protection for electronics and gadgets? This is where SquareTrade warranties come in.

Why SquareTrade?

I’ll admit it, I’m not a big fan of extended warranties. I usually advise people to skip the extended warranties that companies peddle to customers, mainly because they’re pure profit for the company and don’t usually cover the user error issues that tend to occur, especially with mobile gadgets. SquareTrade is different, however. Their warranties are much more affordable, they have accidental damage coverage, and you can buy a warranty for virtually any electronic device – including refurbished products. Plus, there are no deductibles.

Coverage

The standard SquareTrade warranty covers mechanical and electrical issues that occur during normal use of your gadget. You get 100% coverage on parts and labor with zero deductibles. Some examples of covered issues include computer hard drive failures, iPod batteries that stop charging, cell phone keypads that get stuck, and digital camera sensor failures. Accidental Damage and Handling (ADH) coverage is an option for new, store-purchased items and protects against drops and spills. It does not cover loss, willful damage or gross misuse. ADH is typically offered as an option for MP3 players, laptops, GPS devices, cameras, and other portable electronics, but is generally not available on refurbished or used items.
I recommend the ADH coverage for expensive items like an iPhone or iPad that are extremely prone to being dropped or damaged from water exposure.

Key Features

  • Length of Coverage: For new items, coverage lasts 2 to 5 years, and starts at the date of the purchase. For used/refurbished items, coverage lasts 1 to 2 years, and coverage starts the day after the manufacturer’s warranty expires.
  • Coverage Amount: For replacement payments, you’ll be given the full amount that you paid for the item. For repairs, they will continue to repair the item until the maximum value you paid for the item has been reached.
  • Accidental Damage from Handling (ADH): You can purchase ADH as additional coverage and it covers drops, spills, and other accidental damage that may come up.  I highly recommend purchasing this for mobile devices such as your an iPhone or iPad.
  • eBay Purchases: They even have specialized coverage for new, used, and refurbished items purchased through eBay!

Coverage Exclusions

  • Pre-existing Defects: If you get coverage on a used item, any defects or conditions that the item had before you purchased the warranty are not covered. This is a pretty standard exclusion when it comes to warranties and even insurance.
  • Accidental Damage: By default, accidental damage is not covered unless you buy the additional ADH coverage.  So make sure you add on the ADH coverage when you get a warranty with SquareTrade for maximum protection.
  • Accessories and Consumer Replaceable Parts: SquareTrade won’t cover anything that is not part of the original item you purchased and it also doesn’t cover stuff like disposable batteries.
  • Software: If you have any software issues with your item, it’s not covered by the warranty. Only hardware and parts are covered. However, any software issues you have should be able to be fixed without replacing your covered item in most cases.
  • Certain Types of Items: Industrial equipment used commercially such as servers or items fraudulently misrepresented are not covered.

Featured Warranties

iPhone – The iPhone extended warranty is the best in the business. It’s better than the Apple Care extended warranty and much cheaper too. It’s the warranty that I own with SquareTrade, and I’m very glad that I got it. It’s $99, and covers drops, spills, and other accidents. It gives you two years of coverage. There are extended warranties for other smartphones and cell phones as well.

iPad – For $95, you can get a similar warranty for the iPad and I recommend it even more, because the iPad is even more expensive than an iPhone, and more fragile.

LaptopsAgain, I am not a big fan of the extended warranties that large retailers like Best Buy and Dell offer, because they are typically 10 to 20% of the value of the item.  But, SquareTrade’s laptop warranties are typically 48 to 67% cheaper than other extended warranties, so it makes more sense to get the extra coverage.

eReaderseReaders like the Amazon Kindle and B&N Nook are another popular mobile device that people are bringing with them on their commutes to work, vacations, and anywhere else they have time to do some reading.  This makes them extremely susceptible to accidental damage.  At SquareTrade, you can get a warranty for $39.99 with ADH coverage.

Final Word

My first experience with SquareTrade was when I purchased an iPhone warranty.  I saw that for $99 I could get full accidental coverage, and it was cheaper than the Apple Care extended coverage, which doesn’t cover drops and water spills.

My previous iPhone saw some pretty hardcore wear and tear.  I cracked the screen and had to get it fixed by a third-party company that did screen replacements.  So, when I got the iPhone 4 and knew that a new replacement would cost me $499 (compared to $199 I paid to get the phone with a contract), I realized that an extra $99 is a great investment for something that I use every day and is taken with me at all times.

Furthermore, I  recommend SquareTrade’s extended warranties for your mobile devices like eReaders and tablet PC’s.  You might also want to get one if you have an expensive laptop or LCD TV.  The reason why SquareTrade is better than the competitors is they are able to keep their prices low, which makes it a much wiser financial decision when thinking about buying an extended warranty.

Do you have a warranty with SquareTrade? How has it worked out for you?

Comments Disclosure: The below responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

  • http://www.moneybeagle.com Money Beagle

    We’ve got several items covered with SquareTrade. The price has been awesome, especially since I’ve always found a 20-30% off coupons as well. So far we haven’t had to actually use the warranty yet but based on everything I’ve read, I’m hopeful that it would be an easy experience. I just bought a new, more powerful dehumidifier for the basement. I purchased a warranty simply because I’ve heard that these units don’t last as long as they should.

    • Erik Folgate

      Wow those are good examples of stuff that I would never think about, but I am sure the price was decent.

    • wuz2blu

      So what I hear you saying here is that you’re giving a positive review for something you’ve purchased but NEVER USED!?

  • Jenna

    I find it a little odd that you just LOVE every single thing that ever gets reviewed on Moneycrashers…

    • Erik Folgate

      Hey Jenna, that’s not really true. I’ve been critical in the past of some products that I’ve reviewed. But, it’s more natural that I review stuff that I like because I want to share it with money crasher readers as a good product or service to use.

      • http://www.facebook.com/people/Sarah-Arnold-Crank/1709488568 Sarah Arnold-Crank

        Do they cover accidental damage on LED 47″ TVs if a Wii controller hits the TV and cracks it? Do you know of any warranty that will replace the screen if something like this happens?

      • http://www.facebook.com/people/Sarah-Arnold-Crank/1709488568 Sarah Arnold-Crank

        Do they cover accidental damage on LED 47″ TVs if a Wii controller hits the TV and cracks it? Do you know of any warranty that will replace the screen if something like this happens?

    • jane

      How can I trust this review when it’s plastered with ads for Square what’s-its-name?

  • Dmcclan5

    I work for a retailer that sell the Square Trade for cell phones. It is truly the best deal out there. To cover your smart phone for 2 years is $99 total with a $49 deductible. And they offer you a buy back program at the end of your 2 years for that phone. So come by your Sam’s Club and check it out. It will save you $$$ over the years and by the way it covers your phone if you decide to go swimming with it. No one esle I know does that…..

  • Marc

    I purchased a plan with Square Trade from a purchase of a refurb tablet from Woot. It was available directly after I made the purchase on the Woot webpage. It didn’t give me any information, so I went on the Square Trade website. It lists ADH and other coverages, so I bought it. Come to find out, they don’t cover ADH with refurbs and only offer the basic package, which is basically the manufacturer’s warranty.
    To me, insurance is as simple as paying money in case something happens. With buying a refurb, I understand I’m not going to get the same thing again at the same price. However, I’d like to protect the investment at least. New, used, or refurb, the concept is the same. The insurance company can offer a price for a plan and the person will pay that to protect their purchases. It I bought a brand new iPad for $600 for example, I’d like to get a $600 check if it was dropped. The same goes for a $300 refurb. What’s the difference? Dropping and cracking either has nothing to do with being new, used or refurb.

  • Robert

    you do not want to buy this warranty if you buy quality, if you buy junk its the warranty for you..

  • Tony

    I would never deal with this company ever again. I would rather spend more money for a worthwhile company. The customer service is horrible to deal with. It is very hard to get ahold of them on the phone. I sent my phone in for a charging repair and they lost my $600 HTC phone and now I have no phone for a more than a month and no answers after calling them 3 times a week. Always say they will get back to me and never do. This place is a joke.

  • Larry

    Worst Experience I have ever had with a delivery and
    installation company ever! Appointment was set for 8-12 AM. They didn’t show
    and changed it to 12-5 at 11:30 AM. My wife took off work for the morning slot
    and had to go into work for the second slot. I had to take the rest of the day
    off to meet them loosing much needed overtime. At 5PM I called again to see
    what was the problem and they told me they were running late and promised 6-7
    PM. At 7PM I called again. Same story but was promised they will be there soon.
    At 8PM they called and said there was going to be an additional charge for the
    installation Seriously?!? After a few calls to the local Sams club where they
    were picking up my TV Sams was so embarrassed that they paid the difference to
    get us our TV. At almost 9 PM they showed up. They didn’t even have all the
    correct tools needed to install the TV and had to borrow some of my tools.
    Everyone at SquareTrade said sorry and resoulitions department would be in
    contact within 24-48 hours. Took 5 days to get a call and the person on the
    other line said they do not compensate for lost wages or any other losses. Finally today I received a call from a
    resolutions manager. They asked for 24 hours to review and get back to me. Still have not heard back from them 3 weeks later.

  • Greenbeane

    Since August 2015 I have tried to get paid for a HTC Max One phone that was damaged and could not be repaired.First they sent me to a repair shop and the repair shop charged us $180 until they determine what the cost would be and Square Trade said they would pay for it minus my $99 deductible. The shop never got the parts and never answered their phone, I called Square Trade and told them what happened. They said they would call them and I never heard back. So I called again and had to start over with the next person. Apparently they closed my claim. Great!! This is after 4+ months of waiting and numerous calls all assuring me all my receipts had been received and uploaded to them, as well as the $180 I spent on the repair that did not happen. I called again to find out what the hold up was and then I was sent an email with 3 choices. A refurbished phone, the repair shop ( that could not fix it because they could not get parts) or cash payment for the phone in full. I responded and nothing happened. Next I called again. I had uploaded all my receipts months before and was told I would get a refund from the company who was suppose to repair the phone that charged me but did not do the work,(the $180 repair bill). I have paid my one time $99 deductible but still nothing. Today I called again and asked for a supervisor but instead the man I spoke with said he could get things approved. Why is this taking so long??? Why was it not approved the first 8 times I called??? Have been without a functioning phone now since August 2015. Not great service and I have 4 or 5 other items insured through Square Trade. I am now very concerned about those products and if I have to go through this each time I can tell you it’s not worth it. I would like my claim finished and hopefully it will be sometime soon as my plan expires in May. Very unhappy with how long this has taken. Buyer Beware.

    • Andrea Verocio

      what happened with your claim green?

      • Greenbeane

        My update: I got my check for the replacement of the phone which I am thankful. I still have not been reimbursed for the $180 and have tried to call the repair shop over and over and they must have gone out of business. In any case, most of my claim was taken care of so that is good.

        • Andrea Verocio

          I still have time to get a pro-rated refund on 2 of my warranties which i paid over 80$ for in total. Would you recommend canceling my warranty at this point ? Its been over 2 months since i purchased the items from ebay. Getting a check from them if something does happen to my items seems to be the biggest hurdle. And i don’t have accidental protection coverage either.

        • Greenbeane

          Not sure how to advise you except to say go with your gut feeling on this. My situation was unique in that the phone we had was no longer made and there were very few referbs out there. I also suggest to anyone who is filing a claim to ask that their situation be escalated to a supervisor as soon as you hit a road block with the customer service reps. They promise the moon but I am not sure they can deliver. Once I finally got a supervisor, it happened quickly. I didn’t know you could have a policy without accidental coverage included. That would worry me since most claims are from drops and spills like the commercial says.

  • Kerry

    I had a clam with Square Trade with an I Phone 6 that was damaged. For
    unknown reasons beyond my control I could not process the clam on line,
    in turn I had to call “customer service” or in my case the lack of it.
    First when I called multi able times the calls go to Pakistan with
    operator names like Kevin, Bob and Heather…really? I don’t think
    that’s their given birth name but that’s beside the point. The problem
    is they do not have a clue what’s going on. Fist they told me to go to
    the Apple store…that’s great but the closets Apple store is four hours
    one way after explaining to them that will not work for me.They agreed
    to send a phone to me that’s great…but it was the wrong phone. I had a
    Space Grey with black face I was sent a silver with white face. Once I
    received incorrect phone I called again talking to “Bob” in Pakistan.
    He tells me to activate the phone and use it and they would send me out
    the correct phone. I knew not to do that so asked to speak to a
    supervisor. The supervisor told me to send both phones back my broke
    phone and the new replacement that was not the correct phone oh and the
    supervisor said” If you read the agreement with Square Trade it has
    language that they will replace close to what you had” That’s like your
    auto insurances company saying after a accident yes your car is red but
    we got a great deal on blue paint so we are going to have the body shop
    paint your car blue. I guess I should of had a lawyer read over my
    agreement with Square Trade but if I could afford to do that I would not
    worry about insurance on a phone. So after waiting for my second
    replacement phone Square Trade charges me 500.00 for not sending the
    broken phone to them. I called back and finally got a lady in the USA
    that after about an hour she sent me the proper phone and I sent the
    broken phone back. I have not been credited my 500.00 yet. I’ll wait and
    see what happens. I am not very happy with Square Trade. Does Rush
    Limbaugh, Sean Hannity and Glen Beck know what they are really
    advertising?

    I received the same replay everyone else received:

    “I’m really sorry to hear you are unhappy with us & I’d like to get
    this resolved immediately. Please send an email to Include “Help from
    Trust Pilot” in the subject line, your contact information &
    concerns in the body of the email.^BF ” I sent my contact info to the
    email they provided me

    As of 5/6/16 I have not heard from Square Trade and most of all no
    refund.

    AS of 5/10/16 Still no refund!

  • donna kohlhausen

    Square trade took my money and will not pay my claim. I uploaded a receipt for an iphone and they acknowledged it via email. 20 months later they now say the receipt is not good enough because it was purchased from apple when my other phone broke and it has the word repair on it. THE ARE A CHEATER ORGANIZATION>Stay away from them. Use Apple care.