143 of 162 people found the following review helpful
Different Opinion - Poor Experiences
, April 12, 2011
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.
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