apple charges $249 per replacement ipad. i calculated, you can get it replace 2 times accidentally which is the same as applecare+. i'm counting that the other amoutn can probably cover whatever small fixes you might need.
Yes, for iPads where SquareTrade has a higher limit than the cost of the device it is a better deal with longer coverage.
The problem is that some people may not pay attention and purchase a SquareTrade plan that does not cover the replacement cost of their device.
The cost does end up being the same for an outright replacement, I agree.
$99 x 2 for SquareTrade and 2 replacements.
$99 + $49 x 2 for AppleCare+ and 2 replacements.
The difference is that for each "small" repair claim filed with SquareTrade that amount is then deducted from the coverage limit. For example, if you break the screen and it's $200 to have it repaired then that's $200 deducted from a potential future pay-out. If you then run it over you're only going to get the coverage limit less the previous $200 repair. That doesn't happen with AppleCare+, which means that depending on how many repairs you need or have then AppleCare+ could end up being a better value.
ST coverage limit for rMini + cell = $659, $549 for wifi-only.
Repair 1 cost = $200
Repair 2 cost = $100
Completely destroyed, remaining payout = $359/$259
Note that those coverage limits fall below the cost of a 64GB or larger rMini, with or without cell, so, IMO, it's a bad deal for anyone that doesn't have the 16GB or 32GB versions.
64GB rMini, wifi-only = $599
ST plan = $99
Total: $698
Repair 1 = $200
Repair 2 = $100
Toast, payout = $259
New replacement rMini would cost you $599 - $259 = $349 out of pocket, or if no repairs were made then it would cost you $50 to replace it once. Then $99 for another ST plan. Then another $50 to replace it again, assuming no previous repairs.
So that's $99 x 2 + $50 x 2 for 2 replacements. $300 total compared to AppleCare+ of $200 for 2 replacements. ST doesn't make sense for products that cost more than what ST would pay out even with zero previous repairs.
Like I said, ST isn't the best choice for everything or everyone. Folks just need to do the math.