SquareTrade: Anyone with experience?

[Russell Estridge]

Charge a lot relative to what? A $125 2 year plan averages to about $5/month, which is much less than most insurance plans offered by wireless providers. Do they seldom pay out because they're not adhering to the contract (which of course would be illegal), or do they seldom pay out because people didn't read the fine print and expected more to be covered? I would venture to say that if you Googled any kind of insurance, whether it was for electronics, cars, homes, or health, you're bound to come across complaints and accusations of fraud.

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Exactly... I searched a bunch first and the people complaining were idiots. They didn't read the terms and just assumed. It was quite comical really. But most the reviews were 5 stars and I liked what I read so they seem like the golden ticket to me. Anyone who would argue that is just being argumentative and believe the first bad thing they've read.

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[monsieurms]

So far as I know they are a reputable company. For small sums, I think they are a bad deal. $125 for a 2 year plan on a device that may only be worth $500 in the first place, and maybe far less when the claim occurs, assuming it doesn't happen right away, is actually a pretty stiff fee when measured against the odds of loss. Those "just pennies a day" type quotes are how they get you to ignore the real price. The price is high compared to the value insured. By analogy, you can buy home insurance for $500 a year that insures hundreds of thousands of dollars of risk in various ways for various things, from total destruction of your home to lawsuits brought against you. (NB: in anticipation, the point here is to compare pricing to claims payable; not to suggest that you rely on home insurance to insure your device).

If I roll the wrong throw of the dice, so be it. $500 won't break me. But in all likelihood, the odds are far in my favor and it's much more likely I'll wind up getting a "free" device every couple of years paid for by the insurance savings.

 

[Russell Estridge]

I only paid 65 bucks for 2 years

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[TabGuy]

I paid $124 for 3 years with a 35% off coupon. I carry my tablet a lot during the day using for work and at home. It's very susceptible to being dropped.

 

[monsieurms]

I only paid 65 bucks for 2 years

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That's not bad! (My $125 quote came from another poster in the thread..)

 

[Russell Estridge]

That's not bad! (My $125 quote came from another poster in the thread..)

Yea I could have gotten the 3 year for around 79 bucks but figured I wouldn't have it that long anyway. And its transferrable so who ever buys it gets the warranty.

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[Ktrek]

No, thankfully. Google "SquareTrade fraud" & judge for yourself. Good you asked, though a quick search would've been faster. Hope you haven't commited to anything with them. They charge a lot relatively, and seldom pay out on claims, it appears.

If this were true do honestly think that huge companies like Amazon, Sam's Club and Costco, to name a few, would use their services? An A+ business rating with the Better Business Bureau speaks for itself.

Kevin

 

[B. Diddy]

I only paid 65 bucks for 2 years

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Argh, how did you get that price?!?

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[Russell Estridge]

Argh, how did you get that price?!?

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I don't know lol went to the website, selected a plan for 400-500 dollars and they gave me a 30% discount.

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