SquareTrade is a warranty provider that specializes in the coverage of big-ticket electronics items, including new computer monitors, smartphones, desktop PCs, televisions, and more. Determining if SquareTrade is worth it, consider if you want coverage for loss and theft as well as accidental damage. If so, SquareTrade isn’t for you.
Key Takeaways_
- SquareTrade offers a number of extended warranty plans for a wide variety of electronic devices.
- These plans tend to be on the cheaper side and come with no deductibles for repair services.
- Though SquareTrade plans do offer coverage for accidental damage, they do not cover loss or theft.
In that case, you might want to check competitors, such as Sprint Insurance as well as Assurant reviews, to make sure you’re getting the phone coverage you need. However, if you have Sprint, you can check out how to file Sprint Insurance Claims, in the event you need to file a claim.
SquareTrade Electronics Extended Warranty Review
Generally speaking, SquareTrade offers some robust extended warranty plans that offer a good amount of coverage no matter what device you are looking to have protected.
The monthly fees for these plans vary depending on the item you are looking to have insured, but they are competitive. SquareTrade will also replace insured items under certain conditions.
Is SquareTrade Worth It?
SquareTrade’s extended warranty plans can be worth the money under certain conditions and for certain consumers. It is important to understand the nuts and bolts of their coverage.
Robust Customer Service
SquareTrade is known for having a robust customer service program. The company has lines open 24 hours a day, and customer representatives can easily be reached via phone, computer, or any gadget that can get on the Internet.
The company has also built a robust online portal for the purposes of filing claims and checking on the status of filed claims.
Once you file a claim, expect a quick turnaround regarding the ultimate decision and the institution of benefits.
Relatively Inexpensive
Another key perk to choosing SquareTrade is that the monthly plans they offer are relatively inexpensive.
For instance, you should be able to get a top-of-the-line smartphone covered for around five dollars a month, and they also offer family plans that further decrease the overall cost of extended warranty plans.
Even better? Most SquareTrade plans have zero deductibles, meaning you’ll be able to get an item repaired for free.
Accidental Damage
SquareTrade is in the business of extended warranties, but the company’s plans go above and beyond what these extended warranties usually offer.
Case in point? SquareTrade offers coverage for items that have been accidentally damaged, which is a benefit more in line with an insurance plan than an extended warranty.
STAT: Warranties make the most sense when: A warranty costs less than 15% of the item price, or less than 25% if it covers accidental damage. (Source)
Additionally, SquareTrade will pay for shipping the damaged item to a repair facility.
Exclusions
It is important to understand that SquareTrade deals in the sales of extended warranties and not insurance plans. This means that their coverage only goes so far and does not offer benefits for loss and theft.
