171 of 176 people found the following review helpful
on January 13, 2012
Service plan term: 3 YearsService plan covered value: $ 350-$400
SquareTrade sent a tech out to examine a problem with my scanner/printer. He told me to use different paper and left. Now I have a similar problem, and they say I can't have a tech come because my last "repair" exceeded what they are willing to pay - apparently the tech charged $140 for his diagnosis. When I complained, they gave me the service center version of "too bad" and sent me on my way.
This means that according to SquareTrade, any tech can come and charge pretty much anything, and that charge will unquestioningly be deducted from their budget for your item. If they hire bad techs, you get penalized for it; if the problem recurs, well... tough.
If you decide to purchase this, know at least that the value of the warrantee is potentially very limited - it might be worth a replacement machine or a timely repair, but it might also be worth no more than one unproductive tech visit.
73 of 73 people found the following review helpful
Service plan term: 4 YearsService plan covered value: $ 200-$250
I had purchased a Frigidaire 70pt Dehumidifier in April 2011. The dehumidifier stopped working last week, just two months after the 1 year anniversary. I was expecting the dehumidifier to work for at least 3 years before breaking but since so many people had written reviews discussing how unreliable the dehumidifier was, I bought the 4 year Square Trade warranty to cover myself. As it turns out, it turned a bad experience with the dehumidifier into a tolerable experience since the warranty coverage reimbursed me completely for the price I paid for the dehumidifier, less shipping and tax.
So after barely a year of use, my dehumidifier broke down. I filed an online claim with SquareTrade, and within 48 hours had accepted an Amazon Gift Card for the full price I paid for the dehumidifier.
For me, the SquareTrade warranty worked perfectly and was a good investment. I would not purchase an extended warranty for everything I buy, but for certain items, like dehumidifiers, that have terrible reliability issues, it is worth considering.
107 of 116 people found the following review helpful
on March 1, 2011
Service plan term: 4 YearsService plan covered value: $ 100-$125Verified Purchase
I did a fair amount of looking into this extended warranty service since there weren't any Amazon reviews yet, so I thought I would report what I learned in case it is helpful to anyone else.
Short version for impatient readers:
If the item is $100 and the warranty is $25 for 4 years, then you're paying $25 for up to $100 of any repairs occurring within 4 years, with zero deductible. In effect, the first $25 of repair costs are prepaid (the purchase price of the warranty is basically an up-front, one-time deductible), and up to $75 of further repair costs will be free. This is a bad deal if you believe you're buying a reliable product, or you expect to upgrade within 2-3 years anyway (iPod, cell phone). This is a good deal if you believe there is a high risk of failure on an item you want to last you for 5+ years (microwave oven).
My rating is three stars because they're more likely to make money from you than you are to have a faulty product, and because I have no experience with their claims process.
Long version for OCD consumers like myself:
SquareTrade's rating as a seller on Amazon is very high, but skimming through those comments it appears they are all from customers who just purchased the service, not from customers who have seen their warranty through to the end. Unfortunately I didn't find any that commented on any their claims experience, as the quality of an extended warranty is ultimately decided by the fine print of the contract and the customer service of the claim process. But for what it's worth, I'd rate the ease of purchase 4-stars. The procedure is:
1) add to cart & purchase
2) create an account on the SquareTrade website
3) forward your Amazon purchase confirmation email to them with a special code copied from the SquareTrade site pasted into the subject line
4) no paperwork needs to be saved, the contract and receipt are maintained online
HOW IT WORKS
1) if your product breaks due to electrical or mechanical failure, file a claim through the SquareTrade website
2) they send you a free shipping label to send the item to their central repair center and they guarantee a 5-day turnaround or the price of your warranty is refunded
3) they decide whether to repair it or to reimburse you the original purchase price if the repair will be more expensive than the reimbursement
WHAT YOU'RE REALLY BUYING
The warranty works kind of like a debit account. If your original purchase price is $100, then the maximum value of the warranty is $100 and any repairs or reimbursements are deducted from that amount. For example, if they gave you a $100 repair or reimbursement in year 2 of a 4-year warranty, then the warranty "is considered fulfilled", in other words you are no longer covered for the remainder of the 4-year period.
During the time the product is covered by the original manufacturer's warranty, SquareTrade will do nothing more than give you the contact info to file a claim with the manufacturer. If the item is repaired or replaced by the manufacturer, the SquareTrade warranty will continue to apply to the repaired/replaced item from the original purchase date.
IS IT WORTH IT?
It depends on what product you'd be buying it for since repair rates and costs vary. Although their price is cheaper and/or their warranty is longer than some other options, 20-25% of the purchase price still isn't exactly cheap. And if this warranty worked out in the customer's favor more often than not then SquareTrade wouldn't be in business.
I purchased this warranty for a microwave oven, because in my opinion the failure rate is unacceptably high for any brand. I expect a microwave to last much more than four years but I don't trust that it will because it's not to the manufacturer's advantage for it to have a long life. Read the review section for any microwave on Amazon, on you will find from 10-50% of reviewers angry that their new microwave suddenly died. Many complain that their old [insert name brand] microwave lasted 10+ years, and this new [insert name brand] microwave died within two years. I suspect that microwaves are the sort of product that manufacturers have tuned their cost/quality/warranty trade-offs so that the price is low, the failure rate is high, and the mean-time-to-failure is only slightly longer than the typical warranty period of one year.
So I thought this coverage was worth it for a new microwave. If it dies, I'll essentially get a new one for $26. If it doesn't die, then I dodged a bullet and in four years I won't mind having paid $6.50/year for lemon insurance.
43 of 46 people found the following review helpful
on May 12, 2011
Service plan term: 4 YearsService plan covered value: $ 125-$150Verified Purchase
I just purchased a refurbished mini-oven on Amazon.. This warranty was linked at the bottom of the ad for the oven. I clicked on this ad and there was no mention of new or refurbished on the ad, so I bought it, received my product and went to register it by serial number and I noticed that my item was listed as "new". I called Squartrade and they told me that the Amazon warranty will not cover refurb products and were rude on the phone. So, in summary even though there was no exclusion on this ad, Squartrade will not honor this warranty. They didn't offer a decent discount on the much higher price warranty from their site. The unfriendly Squartrade rep was not a bonus.
I'm hoping Amazon will update the item description that this warranty will not cover a refurb so others don't waste their time. If I hadn't called, I wouldn't have known.
27 of 28 people found the following review helpful
on September 30, 2011
Service plan term: 3 YearsService plan covered value: $25-$50
We have several SquareTrade warranties, but have never had to make a claim until now. We have an immersion blender, and it stopped working. The blender was still under the manufacturer's warranty period, and since the cost of shipping to the manufacturer plus the fee the manufacturer asked for was almost the cost of the blender, I figured we were out of luck. But I contacted SquareTrade, and they approved my claim and are sending me the cost of the blender. And all it took was one email, a quick online form and one phone call.
What can I say? SquareTrade rocks!
32 of 36 people found the following review helpful
on October 21, 2011
Service plan term: 3 YearsService plan covered value: $ 175-$200Verified Purchase
SquareTrade SquareTrade 3-Year Appliances Warranty ($175-200 Items) says you must have a copy of your Amazon receipt on file with them before you can file a claim. It was not easy to accomplish.
When I clicked on "submit receipt" on their email I reached a login screen for my email address and password. To get a password I must establish an account with them. This did not work because they did not recognize my email address --even though they had used it twice to send emails to me.
Customer service was helpful by sending an email explaining how to bypass the website by email (attach Amazon's invoice to an email addressed to firstname.lastname@example.org with policy number in subject line). That did work!
He also sent me a one-time password to use to obtain a permanent password to access my account. After entering my email address and selecting a password I got a screen saying "An unexpected error has occurred." When I tried again they rejected me because I'd used up my one-time.
I tried to login again using my newly selected password. No good. They rejected my email address again even though, by this time, they had used it five times.
At this point I still can't access my account so I hope I never need to file a claim. I sure as heck will keep that customer service reps' telephone number though.
35 of 40 people found the following review helpful
on August 17, 2013
Service plan term: 2 YearsService plan covered value: $ 200-$250Verified Purchase
I bought a small microwave. It cost under $300. Usually, one is told NOT to buy warranties for small appliances. In today's world, one is told: simply use the appliance until it breaks. Then, buy a new one. But the appliance came with an inexpensive warranty, so I thought: why not?
I believe in keeping things. I believe: we need to stop buying items that don't last and we need to fix things (if we can) rather than toss them. I believe this for the sake of the planet and for the sake of our own daily sanity.
So, I bought this inexpensive warranty only to be BOMBARDED with paperwork and phone calls and mis-handled correspondence.
I work for a living. So, I have an extremely competent assistant who handles things like warranties for my appliances. It cost my assistant well over 16 man-hours just to get this warranty in place! The cost of those man-hours far outweighed the cost of the warranty.
And that's before I've even USED the warranty -- not even once.
In the beaurocratic world we live in, with low-paid employees terrified of losing their jobs (so they feel compelled to dot every "i" and cross every "t" -- whether it makes sense or not), getting lost in the minutiae of simply getting this warranty set--up proves that it's NOT WORTH THE COST. Not financially. Not emotionally. Not for any logical reason, whatsoever.
My advice to this company? If you want to offer a simple product, MAKE SURE IT IS SIMPLE TO SET UP!
Our experience with this firm was an absolute nightmare from beginning to end -- and again, that's before we've actually even used the warranty.
I have to wonder: if it's this hard just to set-up this warranty, what horrors will befall when we need to use it?
12 of 12 people found the following review helpful
on August 10, 2013
Service plan term: 3 YearsService plan covered value: $ 200-$250
One reason for purchasing a protection plan is for peace of mind, but without prior experience one always wonders just how "good" the warranty will be, should a claim ever need to be filed. After my recent experience with Square Trade, that lingering doubt will never again exist in my mind. My Breville Smart Oven stopped working mid cycle. I filed a brief and hassle-free online claim, and within 24 hours, had a shipping label emailed to me. I returned the item and received a full reimbursement of the $249 original cost of the oven. I elected to take reimbursement in the form of an Amazon Gift Card, and received a 5% bonus on top of the purchase price. If I could award more than 5 stars, I would.
10 of 10 people found the following review helpful
on May 3, 2011
Service plan term: 4 YearsService plan covered value: $ 175-$200
I have used Squaretrade for several years. I have several electronics and appliances insured through them. So far, I have only needed to file a claim once, for an antiquated GPS device.
Just like their contract states, I filed the claim and received a pre-paid UPS label. I printed it out, packed the GPS and shipped it off (to Texas, I think).
They have the option of either repairing (and/or replacing, I forget) the device or refunding you your full (not pro-rated) purchase amount.
Since this GPS thingy was rare and unique, I received a Paypal credit to the tune of $90...what I paid a few years ago.
They constantly run coupons. Mostly 30%. One time I received a 50% coupon. I highly recommend them.
No servicemen at your door. No taking your product anywhere (aside from the UPS store). Just prompt, fast, legit service.
20 of 23 people found the following review helpful
on April 12, 2011
Service plan term: 3 YearsService plan covered value: $ 75-$100
We seldom pay for extended warranty services since the premiums seldom justify the costs. This time we decided to go with SureTrade because their fees were relatively low and we knew that this waffle maker would get heavy use. As it turned out, approximately two months before the end of the warranty protection our waffle maker fell apart. We simply went on the SureTrade web site, verified our warranty period, described the problem. I'm pleased to report that within three days we received post paid delivery label, with return instructions. We then shipped the wounded appliance off and received full reimbursement within a week of filling the claim.
In brief, we would highly recommend SureTrade. In fact we were so happy with their service that we've insured our new iPads.