124 of 140 people found the following review helpful
Different Opinion - Poor Experiences,
This review is from: SquareTrade 3-Year TV Protection Plan ($500-$600) (Electronics)
I had to file 2 claims with Squaretrade over the past few years & they tried every conceivable way to argue out of paying - even wanted to send out parts for ME to repair my computer and, on another claim, TWICE denied receiving my emailed receipt. They eventually paid, but it was NOT an easy or pleasant process, and they did not live up to their 5-day service claim (but claimed it was my fault). BE SURE to read the details of the contract, including exclusions, before you buy. There have been changes in recent years that are NOT the consumer's favor.
Squaretrade is NOT required to pay you the "original" purchase price. Their contract has many qualifiers such as "in most cases" and "up to the purchase price." If they don't repair it or replace with a refurbished unit (that's right, and not necessarily manufacturer refurbished), they are only required to pay you the replacement value AT THE TIME OF THE CLAIM. Four years down the road the "replacement" value of your now nearly obsolete TV will be a LOT less. They can also "replace the Product with a new, rebuilt or refurbished product of equal or similar features and functionality." That's a direct quote from one of my Squaretrade contracts.
If it fails 3-4 years from now, it is doubtful you will get your original purchase price to buy a new one with all the latest features. Squaretrade can replace it with the then-current LOW-END product, even a refurbished one, or just pay you to buy such a product. Of course it would have features equal to or better than your 3-4 year old TV, but certainly not what you could have gotten if they had refunded the original purchase price. Squaretrade gains from technological advances and you lose.
So beware. Read the contract and know what you're getting for the money (maybe worth it for you, maybe not). It's NOT your standard extended warranty contract, and in my experience Squaretrade has been very deceptive about that fact.
Tracked by 1 customer
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Showing 1-8 of 8 posts in this discussion
Initial post: Apr 18, 2011 4:57:27 PM PDT
Hi Binary Spin,
Thanks for taking the time to write this review. Just wanted to clear a few things though.
We would never send out replacement parts nor do we ask our customers to repair their own item with parts. We give our customers the option to either send in their devices , use one of our in-network local repair shops or get a local repair themselves and in this case we would reimburse them the cost.
I'd be more than happy to explain the details of warranty to you. If you like we could even get a a warranty expert to call you at a time of your convenience. Email me at priyahelps(at)squaretrade.com and I'll arrange for the same.
In reply to an earlier post on Apr 18, 2011 10:01:36 PM PDT
Binary Spin says:
Squaretrade did in fact do exactly that. I had a DVD drive fail on a desktop computer and they wanted to send out a replacement drive for me to install. I objected and said I didn't see anything in the contract about a customer repairing their own device. Your employee said he would have to get back to me, which he did (a day later) and said they would pay to replace it after all.
Your post is more misinformation, like your advertisement on this contract page that says you don't replace with refurbished, when in fact you do, and that fact is clearly stated in the Squaretrade contract. Perhaps you should read it yourself.
In reply to an earlier post on May 4, 2012 4:17:44 PM PDT
Elan Venture Corp says:
Oooohh, I love a good smack down. Thanks Binary, I'll save my money.
Posted on Oct 27, 2012 4:45:53 PM PDT
I was going to buy that product but thanks to you, I will not buy it now. many thanks to you!!
In reply to an earlier post on Nov 22, 2012 8:07:09 AM PST
J. Watkins says:
I know this post is a year and a half old, but I have a question.
Did the DVD come installed in the desktp or did you buy it aftermarket? If it was a separate purchase, I can see why they sent it to you to install rather than having a desktop shipped back and forth.
Also, I think "replacement cost" is pretty standard in insurance claims.
In reply to an earlier post on Jan 3, 2013 4:56:44 PM PST
Binary Spin says:
Good question. The DVD was part of the OEM equipment. And funny you should mention "replacement cost" and "insurance claims." Squaretrade is also vague about that. It seems in most states the Squaretrade contract is NOT considered any sort of insurance contract, and is therefore not subject to any insurance regulations. That's another thing ST has been vague about. The way the contract reads, it seems they want you to associate it with a "replacement cost" insurance policy. It is not. Nor is it really an extended warranty, as that is normally understood. That's why I posted here - just wanted people to know what they're getting for the money.
In reply to an earlier post on Jan 21, 2013 12:15:49 PM PST
Thanks Binary Spin, I was looking into these warranties to find out if they were worth it, and it sounds like they aren't. I didn't think so, and thanks to you now I know! Thanks for the great review!
Posted on Jun 11, 2013 1:40:25 PM PDT
Last edited by the author on Jun 11, 2013 1:42:31 PM PDT
Have to add another perspective to this... not sure what happened with this particular purchaser, but what's described is so unlike what most people have experienced... never been sent replacement parts... and most people report great success with Square Trade.
I have a superb experience on an iPhone that I bought *used* from someone else. The warranty transferred without a glitch--and when, later, my home button developed a problem--they sent a prepaid mailer to send it in for repair (a box with foam inserts, in the style and class of Apple itself!). Turn around was only a couple of days and I had my iPhone back with button repaired. Fantastic!
And, no, I have no relationship whatsoever with the company--just one happy camper.
I wouldn't go by this person's experience at all, especially not when the overwhelming majority of people have reported great service--and have not been sent replacement parts as a DIY!
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