SquareTrade 4-Year TV Warranty ($1500-2000 LCD, Plasma, LED) Review

Average Reviews:

(More customer reviews)I decided to purchase this warranty shortly after we ordered a Mitsubishi WD-73737 73-Inch 1080p 120Hz Home Theater DLP HDTV from Amazon, because Amazon recommended this service.
THE PURCHASE EXPERIENCE

Getting the warranty was relatively easy. I had a few questions because our TV is a DLP, not an LCD, Plasma or LED but, to my surprise the off-shore persons answering the phone - and it was easy to get to talk to a human - were able to intelligently search their knowledge base, find the definition of DLP, determine that my TV could be covered, correctly answer my question regarding the DLP's replacement lamp (no, it's not covered) and made a note in their system that my TV was a DLP.

Shortly after I actually completed the purchase at Amazon, I received an email from SquareTrade that had a printable copy of the service agreement/contract.

I was told over the phone that I had to get a userID/password at their site in order to be able to manage my coverage information. Once that completed, I was able to log in and retrieve my contract number and instructions on how to send SquareTrade my proof of purchase - simply paste Amazon's invoice into an email that has the contract number in the subject line.

SquareTrade then sent me an email that acknowledged me sending them my proof of purchase and advising me to keep the original because they were not going to actually verify my purchase until I made my first claim.
COVERAGE

It may be interesting to understand how coverage works without spending time on the phone with the company reps so, here it is.

- There is a 60-day full refund upon cancellation provision so, if you don't like the service agreement, it's easy to cancel.
- This coverage is concurrent with the manufacturer's warranty. In other words, this 4-year coverage begins on the day you sign for it but SquareTrade won't be taking claims from you while the manufacturer's warranty is still in effect. If your manufacturer has a one-year warranty on your TV, SquareTrade will cover it for years 2, 3 and 4.
- The value of coverage is limited to whatever you paid for your TV. This is important so, let me provide the full quote from the agreement:

[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.]

- There is a 'no lemon' provision in the agreement which states that if the same item is repaired 3 times for the same defect within a year they will replace your TV with an equivalent product, at which time the warranty coverage ends - will not cover the replacement.
- If your TV is damaged by a power surge and you had a power surge protector they may ask you to send it over to them for examination (probably to see if they can get some money from the power surge protector manufacturer).
- Any time we are talking about replacements, they reserve the right to ask for the defective item to be sent to them and they will provide the box and the shipping label.
- They will help arrange for in-house repairs and pay the repair company directly.
- They do not cover scratches or cracks.
- They do not cover any damage caused by you doing terrible things to your TV - like leaving it out in the rain.
- There is no deductible.
- They will allow for the agreement to be transferred if you sell your TV - can do it at their Web site.
MY RATING

I haven't made any claim yet but, since Amazon stands behind this company and based on the service agreement and on my experience in dealing with the people at the call center, I am confident that this is a company worth doing business with so they get a 5-star.

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Product Description:
SquareTrade Care Plans are great value and cost 70% lower on average than traditional warranties.  Upon purchase, you will get an email confirmation.  You will not be mailed a paper contract.  If you have questions, please call: 1.877.WARRANTY.

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