anyone use squaretrade as insurance?

Discussion in 'iPhone' started by clg82, Jul 17, 2010.

  1. clg82 macrumors 6502

    Jun 17, 2010
    Southern California
    Just like the title says. Has anyone used square trade as insurance on their phone and how was your experience with them? Was it worth it and what exactly does it cover? Thanks for any help~Chris.....oh also do they send you a brand new one? fix yours? or a refurb.....
  2. jamaggic macrumors member

    Feb 12, 2009
    SC, thank God
    great service

    used square trade for the first 2g, about six months later I dropped it and the volume up button got stuck in... sent it to square trade, they could not fix and they quickly sent me a check for the full amount that I paid on ebay. no hassle, just great service.
  3. ashVID macrumors regular

    Jun 30, 2007
    Reputable company, easy to deal with but the coverage makes no sense. You pay $80 - $130 for what amounts to $50 coverage, that's insane. Apple will replace any broken phone for $199. ST has a $50 deductible and DOES NOT COVER LOSS OR THEFT so you are looking at spending $130 - $180 WITH insurance versus $199 from Apple without.

    The best way to look at it is that Apple is offering free insurance with a $200 deductible while ST is offering $100 insurance with a $50 deductible.

    A better option for most is Safeware which covers loss and theft or Worth Ave which offers the same but may take longer for funds, it's only $80 a year though.

    ash =o)
  4. azentropy macrumors 68020


    Jul 19, 2002
    Yes and no. For ONE instance it is a small savings. But how about if there is a second? or a third? That is where the savings can really add up. Also it adds a second year of warranty coverage with no deductible. I didn't use them for my 3G and made it through 2 years without any issues. But I did pick up coverage for my iPhone 4. However I was planning on using it naked more than I did with the 3G, except I have get the reception issue so need to use a case now anyway.
  5. jlc1978 macrumors 68020


    Aug 14, 2009
    Here's the kicker from SquareTrade:
    In other words, for an iPhone, your covered for up to your purchase price for total repairs over the warranty period. One replacement and you've exhausted the value of your warranty. In essence they are insuring you for the price you paid - if it costs more to fix than that; you'll get what you paid (once) even if the item is more expensive to replace because the price has gone up or you got a significant discount on the purchase price. If you paid $199 because you signed up for two years - and they give you $199 can you replace the phone? You have to send them the busted one so you can't trade it in at Apple. Anyone had any experience with this?

    Which is why, BTW, stores will often discount the product price if you buy a warranty but not cut the same amount off the warranty and sell you the item at full price - it reduces a claim's cost if there is one.
  6. Moobs macrumors newbie

    Jul 18, 2010
    SquareTrade is totally and completely legit.

    iPhone 3G was my fist iPhone purchase and I wanted more coverage for it. I've never lost a cell phone in 10 years so I wasn't worried about loss/theft coverage so I went with the ST warranty.

    After the iPhone 4 came out, my 3G experienced some water damage. (It was an accident, I swear!) So I had to make a claim about 19 months into the 2 year warranty.

    I went online. Filed a claim. Got a few e-mails. One of which included a pre-paid shipping label for UPS overnight. It went out on Monday, They received it early Tuesday morning. Sent me a couple more e-mails. And at about 8 pm on Tuesday, they put the full retail amount of my 16 GB 3G in my PayPal account. That's $499.99

    So for the poster that showed some concern about the "amount paid" clause, it's not a straight amount from your receipt when it comes to cell phones. They insure it for the full retail amount. The "amount paid" clause is true of all other warranties. I now have several warranties with them, including my digital camera and iPhone 4 (which is insured for the full retail amount of $599)

    I will continue to do business with them for a long time to come. And you can usually find coupons for them with a simple google search
  7. billinaz macrumors 6502


    Sep 11, 2008
    Goodyear AZ.... for now.
    I have squaretrade warrantys on both my iPhone 4's.

    I had ST coverage on a Minolta SLR digital camera. When they sold to Sony, parts were not available.

    I sent it to them for repair, but they couldnot get the part to fix it.

    They sent me a check for the replacement cost. (I got a Sony DSLR).

    No arguments, no frustration.
  8. clg82 thread starter macrumors 6502

    Jun 17, 2010
    Southern California
    thanks for all the input if i have this all correct, the squaretrade insurance only costs $99.99 for the iphone 4 plus a deductible if you are having to sent it in and get replaced? I'm totally confused now....and one more question i was eligible for an upgrade to the iphone 4 from my old 3g thru at& much would they send me if say the phone was unfixable, just the amount that i paid at the discounted upgrade price or full retail.....?
  9. jdong macrumors member

    Nov 24, 2008

    This analysis is correct if you have one FULL LOSS incident.

    SquareTrade also covers other defects to the phone throughout the 2 years, similar to AppleCare. What if your home button stops working after a 1 year and 1 month? What if the battery stops holding a charge?

    These incidents cost much less than $199.99 to repair, but that's how much Apple would charge you per incident. If you factor in all the things that might go wrong with your iPhone 4 in 2 years of ownership, the SquareTrade warranty is still a good deal.
  10. Loiterer macrumors member

    Jun 23, 2010
    Not really. Squaretrade's terms explicitly limit lifetime liability to the total purchase price of the phone - You can't keep filing claims if things keep going wrong:

    The total amount that We will pay for repairs or replacement made in connection with all claims that You make pursuant to this Service Agreement shall not exceed the purchase price of the Product, less taxes. In the event that We make payments for repairs, which in the aggregate, are equal to the purchase price or replace the Product with a new, rebuilt or refurbished product of equal or similar features and functionality, We will have no further obligations under this Service Agreement.

    Since any mechanical defects within one year are covered by the regular warranty, you're paying $100 for just the second year of coverage. And if your battery stops holding a charge, Apple charges only $79, not $199. I can't see how it's remotely a "good deal" for the typical consumer.
  11. Moobs macrumors newbie

    Jul 18, 2010
    As I stated in my earlier post, it's the full retail value of the phone. NOT the discounted new customer or discounted eligible upgrade price you actually pay. I only paid $200 for my iPhone 4, but it is insured to the full retail amount of $600.

    I hope this helps.
  12. mlts22 macrumors 6502a

    Oct 28, 2008
    I picked up both AppleCare and ST. One is good for dealing with any issues that may happen that are under warranty, and the other will be good in case I do something by accident.

    I've heard some good things about ST, so it may be something for people to consider.

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