SquareTrade, an Allstate company, offers extended warranties for appliances, electronics, and other home items. Allstate has more than 85 years of industry experience, and SquareTrade alone boasts over 70 million active warranties.
This in-depth review evaluates SquareTrade’s extended warranty offerings to help you decide if it’s right for protecting your home appliances. We also compare it to our list of the best home warranties in case you want additional protection for your home.
SquareTrade Appliance Warranty Plans and Coverage
SquareTrade typically prompts customers to buy its plan when they purchase a new appliance or product. SquareTrade provides extended warranties for a wide range of products, including major home appliances. The company also provides coverage for a number of products. Referred to as “replacement plans,” this type of protection reimburses the customer for the cost of a replacement if a covered product breaks. The products it covers include the following:
- Cellphones
- Computers, including laptops, tablets, and desk computers
- Televisions
- Watches and fitness trackers
- Furniture
- Gaming gear
SquareTrade lists four appliance warranty plans on its website—a dishwasher warranty, refrigerator warranty, washer/dryer warranty, and a coverage option for other appliances. However, all plans operate under the same “appliance warranty.”
SquareTrade has two plans that cover appliances: a standard plan and a plan that includes accident protection. SquareTrade protection plans are offered as a three-year protection plan or a five-year protection plan. Coverage is only available for new appliances bought in the past 30 days.
| Coverage | Standard Plan | Plan with Accident Protection |
|---|---|---|
| Mechanical and electrical failures | ✓ | ✓ |
| Unexpected leaks | ✓ | ✓ |
| Power supply burnout | ✓ | ✓ |
| Won’t power on | ✓ | ✓ |
| Power supply burnout | ✓ | ✓ |
| Accidents like drops and spills | ✗ | ✓ |
Note: You won’t be able to submit a claim for the following types of appliance failures:
- Physical (cosmetic) damage
- Replaceable parts (also referred to as “consumables”) such as bulbs
- Commercial use
- Intentional damage
- Loss or theft
The “other appliance” category isn’t defined explicitly, but SquareTrade defines the types of items that aren’t eligible for coverage in their help center. These include, but are not limited to, the following:
- Items with no electronic or electrical components
- Other outdoor appliances (barbecue grills, pressure washers, etc.)
- Plumbing-related appliances (water heaters, softeners, or filters)
- Automobiles of any type
- Industrial equipment
- Items intended for commercial use
When Does SquareTrade Coverage Start?
If you purchased your item new, your coverage starts on the day you purchased your service plan.
If you purchased your item used, you might have to wait 30 days before coverage goes into effect. This waiting period varies and will be detailed in the terms and conditions of your contract under a section labeled “Waiting Period.”
How Much Does SquareTrade Appliance Warranty Cost?
The cost of a SquareTrade service contract will depend on the plan you choose, the cost of the appliance you want to protect, and the contract length. Here’s a breakdown of SquareTrade protection plan pricing:
| Cost of Appliance | 3-Year Plan | 5-Year Plan |
|---|---|---|
| $0.00–$199.99 | $99.99 | $109.99 |
| $200.00–$299.99 | $99.99 | $109.99 |
| $300.00–$399.99 | $99.99 | $114.99 |
| $400.00–$499.99 | $99.99 | $134.99 |
| $500.00–$699.99 | $99.99 | $159.99 |
| $700.00–$999.99 | $114.99 | $229.99 |
| $1,000.00–$1,249.99 | $149.99 | $299.99 |
| $1,250.00–$1,499.00 | $149.99 | $299.99 |
| $1,500.00–$1,999.99 | $169.99 | $344.99 |
| $2,000.00–$2,999.99 | $219.99 | $399.99 |
Coverage Specifics
If SquareTrade determines that your item can be repaired, they will cover 100% of the parts and labor. If the item needs to be replaced, the amount covered will depend on your plan and appliance type. SquareTrade will contact you directly to discuss your repair and replacement options.
Once the cost of repairs or replacement meets or exceeds the coverage amount of your plan (generally equal to item purchase price), your plan will expire.
How Does SquareTrade Compare to the Competition?
The average cost of a home warranty plan breaks down as follows:
- Plans range from $558 to $649 a year.
- Additional items or coverage options range from $100 to $500.
- Deductibles and service fees range from $75 to $125 for most providers we’ve reviewed.
At first glance, this makes SquareTrade seem cheaper than the average plan. There are no deductibles, and the plan cost is lower than the industry average. However, most home warranty plans don’t charge by item. For example, if you had a plan with American Home Shield, you’d pay a flat coverage fee to protect major appliances and systems in your home.
Let’s take five standard appliances in a household as an example—a refrigerator, washer/dryer unit, dishwasher, central air conditioning unit, and water heater. For the sake of this exercise, we’ll use the high end of the industry average home warranty cost.
If all five appliances needed repairs or replacements within one year, here’s a cost comparison between SquareTrade’s three-year plan and an average home warranty:
| Appliance | Average Cost | SquareTrade | Average Home Warranty |
|---|---|---|---|
| Umbrella Plan | – | $0 | $600.00 |
| Refrigerator | $600.00 | $100.00 | $100 deductible |
| Washer/Dryer | $3,000.00 | $220.00 | $100 deductible |
| Dishwasher | $1,000.00 | $150.00 | $100 deductible |
| Central Air Conditioning | $1,800.00 | $170.00 | $100 deductible |
| Water Heater | $1,000.00 | $150.00 | $100 deductible |
| TOTAL | – | $790.00 | $1,100.00 |
If all five items fail in one year, SquareTrade is the cheaper option. If just one or two appliances fail, American Home Shield is the more affordable option.
As a precaution, there may be a risk involved with only covering some items in your house and not all of them. It’s almost impossible for homeowners to anticipate which items will fail and which will not.
SquareTrade Appliance Warranty Claims Process
Submitting a claim with SquareTrade can be done online in four steps.
- Locate your receipt and covered item.
- Have details like the IMEI/MEID number, serial and/or model number, and other information such as the brand, model, carrier, memory, color, and size of your broken system or appliance.
- Contact SquareTrade or file a claim online at squaretrade.com/claim.
- Upon approval, call SquareTrade to schedule an in-home service visit.
There’s no service fee for a home repair visit, but SquareTrade limits the amount it will cover for repairs or a replacement item to the upper level of the policy you purchased.
Many SquareTrade warranties include a “no lemon” policy. This policy applies if you had the appliance repaired two times for the same issue and need a third repair for the same problem, all within a 12-month period. If that happens, SquareTrade would authorize replacing the covered product with a comparable model or give you cash to replace the appliance, instead of repairing the problem a third time.
Note: You do not need to register your appliance to submit a claim. However, registering your items might speed up the claims approval process. You won’t be able to register your item over the phone—all registrations must be completed online and will require a username and password.
If you want to register your appliance, you must:
- Wait three days after your appliance purchase. It will take the retailer up to three days to send SquareTrade the necessary information.
- Go to squaretrade.com/register.
- Have your receipt on hand in case you need to upload it.
How Does SquareTrade Impact a Manufacturer Warranty?
If you purchased your appliance new, it likely came with a manufacturer warranty that covers defects due to parts or workmanship, generally up to one year from the date of purchase. If your item is covered under the manufacturer warranty, SquareTrade will direct you there first.
If the appliance in question is not covered by the manufacturer but is covered under your SquareTrade plan, SquareTrade will cover it. After your manufacturer warranty expires, SquareTrade covers all issues included in your plan for the remainder of the plan term.
SquareTrade Appliance Warranty Reviews
SquareTrade has a 4.1-star rating on Trustpilot. Out of more than 26,000 reviews, 71% of reviewers said they had an excellent experience, while 15% of consumers rated the experience as bad.
SquareTrade covers consumer electronics in addition to appliances, and most of the reviews don’t involve a specific SquareTrade appliance warranty. Note that replacement plans and accidental damage plans involve a different claims process than for appliances. These types of plans typically involve having the customer send the defective or broken product to a SquareTrade warehouse, after which the customer receives a payout for the covered item. These plans cover lower-ticket items such as vacuum cleaners, toaster ovens, and power tools.
Most comments seem to involve phones, televisions, and computers, and many reviews don’t specify what sort of item was covered. Positive reviews from customers note a quick, hassle-free experience with SquareTrade.
“I’ve been using SquareTrade for at least 5 years on quite a few different items including quite a few phones and I’ve never ever had a problem ever. I completely trust them even if I live in no man’s land and my phone is trashed due to my own fault of dropping it. They have it shipped overnight and back to me in 48 hours in perfect condition. I’m such an avid believer in them. Everything that I ever buy on Amazon or anywhere else I immediately tag on a SquareTrade warranty even if I never use them that’s how much I believe in these guys.” — Jaden T., via Trustpilot
Customers who gave SquareTrade a low rating cited slow service or denial of claims.
“SquareTrade was not able to replace or repair the headphones I had covered under their protection plan, so they sent me a check. I am not satisfied with a check and feel they should have tried a little hard to get me a replacement as the exact brand of headphones are openly available to most stores and online. Sending a check seemed to be their easy ‘cop out’ way of ending the protection plan on my item.” — Natasha S., via Trustpilot
Our Final SquareTrade Appliance Warranty Review
A SquareTrade appliance warranty might sound appealing with its promise of paying for an extended warranty once and facing no further fees. However, if you buy warranties on multiple appliances, the cost can add up quickly. Additionally, it’s difficult to determine how well the company serves its appliance warranty customers, since so much of its business involves consumer electronics. We recommend considering one of our top home warranty companies in the panel below.
Is a Home Warranty Worth It?
To decide if a home warranty is right for you, consider your existing systems and appliances, included coverage, and what your costs are likely to be. A home warranty offers peace of mind and financial protection in case of unexpected system or appliance failures due to normal wear and tear.
A home warranty can also be worthwhile when you’re buying or selling a home. Buyers may use it to ensure that their new home won’t require significant repairs or replacements right away, while sellers can use it to entice buyers to make an offer.
Keep in mind that a home warranty isn’t always practical if you have newer systems since you may not need repairs or replacements while you own a plan. Note that a home warranty doesn’t cover preexisting conditions, misuse, or poor installation.
How To Buy a Home Warranty
Buying a home warranty requires comparing multiple plans and coverage limits to ensure you get the best policy. You can purchase a home warranty at any time. This differs from homeowners insurance, which lenders often require before closing on a new home purchase.
Below are the steps to follow if you want to purchase the right home warranty the first time around.
- Determine your coverage needs: Home warranties cover appliances and systems that have failed due to age or wear and tear. Determine which areas of your home need coverage and if you require more than a basic plan.
- Research companies: Research top-rated providers in your area and their plans to find coverage that suits your needs and budget. We suggest getting quotes from at least three companies.
- Compare plans and pricing: Compare the quotes you get to assess the best value for your money. Keep in mind that coverage limits and plan exclusions vary by company.
- Read customer reviews: Visit third-party review sites such as the Better Business Bureau (BBB) to determine how each company handles customer complaints and its ethical business practices.
- Negotiate and buy: Purchasing a new home warranty allows you to negotiate prices with the provider’s salesperson. Once you sign up, review the terms and conditions of the provider’s residential service contract to confirm your understanding.
FAQs About SquareTrade Appliance Warranty
Does SquareTrade offer appliance warranties?
Yes, SquareTrade offers extended warranties on appliances such as refrigerators, dishwashers, and washers and dryers.
What does a SquareTrade appliance warranty cover?
A SquareTrade appliance warranty covers mechanical and electrical failures, issues when the appliance won’t start, and power supply burnout.
What is SquareTrade known for?
The company started out providing extended warranty coverage for consumer electronics, such as cellphones. Consumer electronics continue to be a major thrust of its business.
Our Rating Methodology
We use a detailed rating methodology to objectively score each home warranty company we review. We conduct research by speaking with company representatives, requesting quotes, analyzing sample contracts, and running focus groups and homeowner surveys.
We use this information to score each provider in six comparison categories that we think are most important when choosing a home warranty. We rate each provider across 23 factors within those categories. Each factor is assigned a point value based on its importance to a homeowner, totaling 100 points. We convert the final scores to a 5-star rating.
Here’s a breakdown of our weighted factors:
- Coverage (35%): This category looks at how comprehensive each provider’s coverage is, including whether it covers unique items. Companies that cover the most items and have higher annual limits received the highest scores. We docked points from providers that impose long waiting periods or have depreciation policies that decrease your payouts for aging items.
- Cost (20%): We looked at average monthly prices and service call fees. We gave the most points to companies offering pricing at or below the industry average that don’t impose any surcharges or extra fees.
- Trustworthiness (15%): To gauge reputation and reliability, we reviewed customer ratings across sites such as the Better Business Bureau and Trustpilot, as well as companies’ responses to complaints. We also checked for National Home Service Contract Association (NHSCA) membership. Providers with the highest ratings and longest workmanship guarantees received higher scores. We deducted points for any ongoing legal issues.
- Plan transparency (10%): We read terms, policies, and disclosures in provided contracts and on each company’s website. Providers with transparent contract details and policies received more points.
- Customer support (10%): Companies with multiple claims filing options, fast response times, and accessible customer support scored well in this category.
- Flexibility (10%): We awarded more points to providers offering more plan options, larger add-on catalogs, the ability to choose your own technician, and customer-friendly cancellation policies.
