I bought Applecare+ with my iPhone. I took a look at Squaretrade a short while after.
While I like the fact that Squaretrade allows up to four ADH (Accidental Damage from Handling) replacements versus Applecare+'s two, I don't care for the pay up front and then Squaretrade reimburses you (minus the $50 replacement fee) aspect. I know that's insurance and that's how it works, but I can't afford that.
I can come up with $50 for a replacement under Applecare+, but not $300 or more and then wait for reimbursment with Squaretrade.
At least that's how I read their program works [Squaretrade]. If I'm wrong on that, please let me know.