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Letter from Squaretrade Insurance

B

BettBee

macrumors member
Original poster
Apr 1, 2010
58
0
Received the following email after requesting the proper amount of $699.00 be listed on my SquareTrade contract (currently it says $599.99 which was not what I was told when I bought the coverage.) Is this hogwash or what?

----------------------------------------------

Thank you for contacting SquareTrade.

We decided on a $599.00 maximum coverage amount for our iPhone warranties because we felt the majority of our customers would be able to get a full replacement at $599.00 or less by the time a claim would be filed. This lower maximum amount helps us keep our warranty prices low.

Please note that we will likely suggest several other alternatives before considering a cash payout on an iPhone warranty. The vast majority of iPhone problems can be repaired, and if not, the phone can often be replaced through Apple at less than the full cost of a brand-new no-contract unit.

However, we do know that the full value of an iPhone 4 32GB is $699, and if you cannot obtain a replacement any other way besides paying full price, then we are willing to pay out an extra $100.00 if you need it to obtain a replacement phone.

If you have any questions or need some help, feel free to reply to this email or give us a call at 1-877-WARRANTY.


Thank you,

Xxxxxx,
SquareTrade Care Specialist
 
A replacement iPhone (3G, 3GS, or 4) of any capacity is $199 at the Apple Store if it deemed to be Out of Warranty coverage (water damage, physical damage, Out of Warranty by date)
 
Small White Car said:
What's wrong with it?
Click to expand...

What's wrong with it is that:

1) I bought a policy valued at $100.00 more than they are listing on my contract. It was stated that the contract was for replacement value of my phone, which is $699.99.

2) I contracted with them to replace or fix the phone, not to have them tell me to chase Apple around for a replacement.

3) The way they have it listed they could theoretically reimburse me for repairs only up to $599.99. They verbally said it was a mistake, but in writing they are attempting to justify their statement of the wrong amount on the contract page.
 
BettBee said:
What's wrong with it is that:

1) I bought a policy valued at $100.00 more than they are listing on my contract. It was stated that the contract was for replacement value of my phone, which is $699.99.

2) I contracted with them to replace or fix the phone, not to have them tell me to chase Apple around for a replacement.

3) The way they have it listed they could theoretically reimburse me for repairs only up to $599.99. They verbally said it was a mistake, but in writing they are attempting to justify their statement of the wrong amount on the contract page.
Click to expand...

However, we do know that the full value of an iPhone 4 32GB is $699, and if you cannot obtain a replacement any other way besides paying full price, then we are willing to pay out an extra $100.00 if you need it to obtain a replacement phone.
Click to expand...

you have it in writing from them that they'll pay the difference if the need arises, I wouldn't worry about it as long as you hang on to the letter.


That's also not what they're doing, they're explaining to you why there is a discrepancy, again, they've already said that you're not being cheated out of money here, what's the issue?
 
BettBee said:
3) The way they have it listed they could theoretically reimburse me for repairs only up to $599.99.
Click to expand...

The letter you posted clearly states they'll pay up to $699 if they have to.

I'm not sure why you think they'll only pay up to $599 when the letter says otherwise. I'd think that having this letter is all the proof you'll need should you ever have to force the point.
 
Looks to me like you're covered so I don't understand the issue here. While it may require some initial effort on your end if you need to get a replacement or something, you're still covered anyways.
 
I misspoke, it's not actually a letter, it's an email. Not exactly proof of anything.

Also, as I said, I was sold a contract for replacement value of phone. Not $100.00 less than the replacement value.

Seriously, nobody sees anything hinky in this? I am somewhat surprised.
 
But they've offered to honor the contract you signed up to by giving you the extra $100.

There's no smoking gun, just a stale fart. Get over it.
 
BettBee said:
I misspoke, it's not actually a letter, it's an email. Not exactly proof of anything.

Also, as I said, I was sold a contract for replacement value of phone. Not $100.00 less than the replacement value.

Seriously, nobody sees anything hinky in this? I am somewhat surprised.
Click to expand...

You have correspondence from "xxxx Squaretrade customer care specialist". While it may not be a full blown officially notarized legal document from them, you have this as proof which will suffice in the event you need to make a claim or something.

While I see your concern regarding the "value of the phone", the bottom line is, in the event that you need to get a replacement, they'll get you one, or reimburse you one, for the full amount which is all that really matters.

As for this being hinky? It's an insurance policy. ALL insurance policy's are hinky by default. But, to be on the safe side, might want to call them and just double check on all this :D
 
BettBee said:
I misspoke, it's not actually a letter, it's an email. Not exactly proof of anything.

Also, as I said, I was sold a contract for replacement value of phone. Not $100.00 less than the replacement value.
Click to expand...

I can get my current iPhone 3G replaced for $49 dollars...that's much less than the retail price when it was new.

It seems reasonable to me that $599 or less would get you a replacement for your phone when/if it fails at some point down the line. If they have to spend an extra $100, they will...as written in the email, but likely they will not have to.

You were sold a contract for the replacement value of the phone, you got a contract for the replacement value of the phone.
 
rw3 said:
A replacement iPhone (3G, 3GS, or 4) of any capacity is $199 at the Apple Store if it deemed to be Out of Warranty coverage (water damage, physical damage, Out of Warranty by date)
Click to expand...

The Squaretrade warranty costs 100$ right? So that's half of what a replacement from Apple would cost. Might as well take a chance for 100$...
 
BettBee said:
What's wrong with it is that:



2) I contracted with them to replace or fix the phone, not to have them tell me to chase Apple around for a replacement.
Click to expand...

they aren't asking you to chase apple around. did you expect these guys to ship a new phone to you or something.

they will pay for you to get a new phone, what more do you want? that's what you paid them for. they said they'll pay you to replace the phone what more do you want? just like your car, if you get into an accident they will pay you to have it fixed and get it in working order. in some cases that is full value and others it will be less whatever the cost is to get it back to working order.

as for the proper amount insured being incorrect, you probably should have gotten that in order before taking out the policy and making sure everything is correct, a bit late in the game to complain after you enter into agreement
 
Also, once you make a claim on your SquareTrade insurance, you're done. They only allow one. So consider it a $150 replacement ($99 initial, $50 deductible) "just in case" you break your phone. Or skip the "just in case" and save yourself $150 if you don't break your phone. In that case, if you do, you spend $199 at the Apple Store to get a replacement. In the end, it's $50 more, but it seems much easier and you are only paying if you need to.
 
I also don't see the issue here. They clearly in the e-mail state they will cover the full $699 if necessary, but at the same providing other avenues you can take as well (if they can save themselves some money they will)

And even if it not a document an e-mail is still something in writing and holds a value if addressed properly which I am sure is this case here
 
chrmjenkins said:
543.jpg
But they've offered to honor the contract you signed up to by giving you the extra $100.

There's no smoking gun, just a stale fart. Get over it.
Click to expand...

I don't care you who are, that right there is funny.
 
I understand what he's saying. I don't think anything is hinkey but if you paid to cover your phone at a value of $699 then your contract should say $699. They shouldn't say before you sign up that they will cover $699 then send you paperwork AFTER sending them your money that says they will cover $599.
 
I have been researching insurance options for some time now, and had the same question for SquareTrade after I read their terms and conditions. I was wondering: who pays that $100 that's leftover--me, or them?

The answer I got? The same exact thing. Either we both got responses from the same agent, or it's a common question and they have a pre-filled answer for it.

The good news? More than one person getting this response means it's probably more likely they'll shell out the extra cash for a 32GB customer, if need be.

There have GOT to be existing AT&T 32GB iPhone users out there that have taken advantage of this already. I'm not going to worry about it too much if I end up going with their protection. Plus, I'm sure Asurion will rip Verizon users off just like they are ripping of AT&T users.
 
brandnewrock22 said:
I have been researching insurance options for some time now, and had the same question for SquareTrade after I read their terms and conditions. I was wondering: who pays that $100 that's leftover--me, or them?

The answer I got? The same exact thing. Either we both got responses from the same agent, or it's a common question and they have a pre-filled answer for it.

The good news? More than one person getting this response means it's probably more likely they'll shell out the extra cash for a 32GB customer, if need be.

There have GOT to be existing AT&T 32GB iPhone users out there that have taken advantage of this already. I'm not going to worry about it too much if I end up going with their protection. Plus, I'm sure Asurion will rip Verizon users off just like they are ripping of AT&T users.
Click to expand...


After Asurion said they would not replace my droid in the event I lost it, and would give me an Eris instead

I cancelled my insurance with them, told them to take a big wiff of it, turn that sum***** sideways, and stick it straight up their candy A**!
 
brandnewrock22 said:
I have been researching insurance options for some time now, and had the same question for SquareTrade after I read their terms and conditions. I was wondering: who pays that $100 that's leftover--me, or them?

The answer I got? The same exact thing. Either we both got responses from the same agent, or it's a common question and they have a pre-filled answer for it.

The good news? More than one person getting this response means it's probably more likely they'll shell out the extra cash for a 32GB customer, if need be.

There have GOT to be existing AT&T 32GB iPhone users out there that have taken advantage of this already. I'm not going to worry about it too much if I end up going with their protection. Plus, I'm sure Asurion will rip Verizon users off just like they are ripping of AT&T users.
Click to expand...

I have SquareTrade and have claimed damage once. I have the 32gb and didn't have any issues. They were polite and responded quickly to my claim. I dropped my iPhone in the parking lot and shattered the screen. Once they approved the claim, I went to Apple, paid $199 + tax, and received a new 32gb iPhone. I e-mailed that receipt to SquareTrade and was reimbursed the full amount I paid to Apple. No, I didn't receive a check for $699 + tax from them, but I didn't need it because of Apple's out of warranty policy.
 
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