I was just wondering if some members here might have some insight on square trade warranties in general vs the Applecare protection plan. From what I understand, the Applecare plan only extends the already existing Apple warranty to three years, but still only covers defects correct? Square trade offered me a warranty on my imac for $137 for three years coverage with unconditional repair & replacement should it become damaged in any way. If it can't be fixed, a full refund would be issued for the $1275 I spent. BTW I just bought the newest chrome 2.4ghz imac from ebay for $1275 shipped.