SquareTrade Review UPDATED Oct 2021

7.5Our Rating
7.2User Rating
  • No deductibles
  • 24/7 hassle-free online claims
  • Reimburses contractors 100% for parts and labor
  • Cancel anytime for a full or pro-rated refund
Square Trade Homepage


SquareTrade is a company that offers protection plans on consumer electronics, such as tablets, smartphones, laptops and televisions, and also has plans for common household appliances, the so-called home warranty plans.

Unlike with other home warranty companies, they don’t offer a single plan that covers several different appliances and systems. Instead, SquareTrade allows you to cover individual appliances, provided they are new and purchased within the last 30 days. So, basically, when you buy a new appliance, for example, a washing machine, you can opt to cover it with a protection plan and if something breaks down or goes wrong, you will be covered and the company will take care of the repair or replacement for you. SquareTrade offers plans for appliances such as washing machines, clothes dryers, refrigerators, dishwashers, mixers, vacuums, and ranges.

The company has two plans for your appliances – a 3-year plan and a 5-year plan. Each plan can then be adjusted according to the price range of your appliance. For example, the 3-year plan for an appliance that costs up to $199.99 costs $99.99, while the 5-year plan for the same appliance costs $109.99. Appliances ranging from $2,000 to $2,999.99 can be covered with a 3-year plan for $219.99 or with a 5-year plan for $399.99.

SquareTrade covers all parts and labor costs for the repair or replacement of your appliance. And the best thing about this company is that there is no deductible or a service trade fee. This means that when a contractor comes to fix your appliance, you are completely covered and don’t have to pay anything then and there. The company will reimburse the contractor for any parts used in the repair, as well as for the labor.

Terms and Conditions

The number one restriction you have to keep in mind when it comes to SquareTrade appliance coverage is that it can be taken out for for brand new appliances – those that have been purchased within the last 30 days. You will have to provide some sort of proof of purchase, such as a receipt.

Furthermore, the SquareTrade protection plans for electronics and appliances can only cover up to four claims or the labor and parts cost up to the limit of liability. Coverage cannot be used for re-installation of appliances, normal maintenance, damage that is only cosmetic and not substantial or affecting the performance of an appliance, as well as incidental loss. Theft is not covered either. Appliances that have broken down due to a pre-existing damage will not be covered either, and the same goes for appliances purchased outside of the United States or in a private sale, such as garage sales, flea market, Craigslist and so on.

SquareTrade applies what is known as the “No Lemon Policy,” which means that if an appliance that has been repaired twice for the same problem breaks down again, for the third time, due to the same problem within a 12-month period, it will be either replaced by the company or you will receive a cash refund so that you can replace it yourself.

SquareTrade also provides refunds. Cancellation of your protection plan contract within the first 30 days of the contract term comes with a 100% refund. Cancellations after that period are also eligible for a refund, albeit not for the full sum – you will receive a pro rata refund calculated using the time remaining on your contract.

Another important thing to bear in mind is that, while there is no deductible for the protection plans and repairs performed based on your coverage, there is something called limit of liability. This means that the total amount the company will pay for the repairs and replacements of your covered appliances cannot exceed a certain sum, which is called the Coverage Amount, and is basically the purchase price of your covered appliance (the price you paid for it when you bought it). If you paid $1,000 for a fridge, SquareTrade will perform repairs or replacements up to $1,000, and so on.

Customer Service

If your covered appliance breaks down or malfunctions, all you need to do is file a claim. This can be done easily through the SquareTrade website, by clicking on the “File a claim” link at the top of the page.

To file a claim through this system, you will first need to create a user account, using the same email address you provided when you signed your contract. After that, the claim filing system will guide you through the process, step by step. The entire process is very quick and easy and once you complete it, all you have to do is sit back and wait for the company to reach out to you. They will first establish whether your appliance is eligible for an on-site service (and most appliances are, considering they are too big to be shipped to one of the company’s service centers), after which they will send an authorized technician to inspect and repair your appliance. This generally takes up to five business days and the on-site repairs are done within normal working hours. Your appliance will be repaired, replaced with a compatible product or you will receive a cash refund up to the coverage amount. There doesn’t appear to be any emergency customer service for severe malfunctions and breakdowns, and you simply have to wait for them to answer, which can be a bit inconvenient, of course.

The company also has a phone number you can use to ask about plans and get additional information, but existing users wishing to file a claim are encouraged to do so using the online system on the SquareTrade website. The system is available 24/7 but the claims are examined and addressed only during normal working hours.


After the company establishes your appliance is too big to be shipped, they will find a technician that is the nearest to your location and send him to you for an in-home/on-site repair. SquareTrade employs a large network of contractors so the chances of finding someone very close to you are pretty good. All contractors are authorized, experienced and professional. SquareTrade is also always looking for new contractors, offering good employment terms, so it is no wonder their network of technicians-contractors just keeps growing.

Pros & Cons


  • No deductibles whatsoever
  • No lemon policy
  • Covers individual appliances
  • Online claims
  • A+ rating at the BBB


  • No comprehensive plans for several appliances
  • Only covers brand new appliances
  • Limited coverage amount.

User Reviews

  • Submitted By Laura Schwarz
  • Company: SquareTrade

    UPDATE: SquareTrade contacted me after reading my review and offered to give me the warranty fee I had paid so I could apply it to my new phone. The representative was apologetic for the offer the previous rep had made to extend my warranty after my damaged phone claim was completed. She explained that it was not SquareTrade’s policy to extend warranties but they wanted to offer me the warranty fee to apply to my new phone. I explained to her that I was completely satisfied with the execution of the warranty and how they had handled it so quickly and fairly. My only complaint was what the rep (Simon) had told me and how the company would not honor it even though our conversation was in the notes. I am grateful SquareTrade contacted me and resolved the issue. They acted with integrity and I could not be happier. Thank you.
  • Submitted By Kenneth Dern
  • Company: SquareTrade

    I was extremely unsatisfied with my “traditional” home warranty which I purchased from a company I shall not name here. My coverage was absolutely useless. When I heard about Square Trade I decided to use their plans to cover some of my new appliances, as I purchase them. When I got a new washing machine, I got a 3-year plan for it. I intend on getting a new fridge soon too, and I will definitely buy a plan to cover it as well. My point is, these things break even when they are brand new and getting some sort of coverage for them is always a good idea. Square Trade doesn’t offer unlimited coverage but considering these are new appliances that usually get minor breakdowns, in my experience the limit does the trick and I never exceeded it with a single appliance.


  • Submitted By Dave Ginn
  • Company: SquareTrade

    SquareTrade…what can I say? Does it pay up? I’m not sure. You almost have to hope for your fridge to break and for the problem to be included in the plan. But I do like the company itself. They are very efficient and fair to their customers, and their technicians are very professional, skilled and seem trustworthy. Just try to think this one through carefully before getting a plan. Do you expect your appliances to break down? Did you buy quality goods or cheap stuff? It all depends on that. Anyways think before you sign and read their terms and conditions!!


  • Submitted By Harry Gillian
  • Company: SquareTrade

    I don’t know what kind of scam they are running but I think it’s really suspicious all of my breakdowns were deemed too expensive to be included in the coverage limit.


  • Submitted By Martha Robinson
  • Company: SquareTrade

    My SquareTrade plans for a few home appliances was an excellent investment. I can’t guarantee for others with the same plan but in my case it really paid off. Like, for example, this brand new dryer we bought kept clogging up the drain. So the tech man fixed that and we didn’t pay a thing. The ice maker too, one day it wouldn’t make ice anymore. Well, that one took a while to fix, but they did it, again free of charge. Each of those repairs would cost a lot of money, way more than what we paid for the plans which is why I’m saying this is probably a very good investment. Or at least it was for me.


  • Submitted By Joe Baldassari
  • Company: SquareTrade

    This kind of protection makes sense if you have a history of things breaking down on you a week or two after you have bought them, like, if you can’t afford high-quality stuff and have to buy cheap ovens, washing machines, fridges, etc. Those are going to break down on you all the time because they aren’t any good to begin with, and it helps to have some sort of insurance. Just don’t expect too much of it because Square Trade plans have a limit on them and they don’t cover just any kind of damage or fault.


  • Submitted By Lillian Ferguson-Hale
  • Company: SquareTrade

    My personal experience with SquareTrade is not a particularly good one. When I moved to my new home and purchased a few appliances, mostly for my kitchen, my sister-in-law suggested I insured each of them with a warranty plan. So I got a plan for my fridge and my dishwasher. After a few months, there was a problem with the dishwasher. My dishes would come out smudged and greasier than before I put them in. When I filed my claim a technican came over, inspected the dishwasher and said that for some reason I can’t remember now the malfunction is not included in my plan and I should hire someone else to fix it. So I did, and I paid $120 for the repair, which is pretty close to the cost of the plan. So what I’m saying is that for me this was a huge waste of money.


  • Submitted By Geordie Huff
  • Company: SquareTrade

    What a waste of money! Do not buy these so called “protection” plans folks! They don’t protect you from anything. Learn how to repair stuff by yourself and don’t buy cheap electrical appliances!! Or get a trusted repairman on your own. Who needs these companies with their plans anyway.


  • Submitted By Tim Lee-Qwan
  • Company: SquareTrade

    I’ve previously had good experience with SquareTrade with a plan on my laptop. However,when I got a new refrigerator, a very expensive one, I got a plan for that too in case something happens, you know, like murphy’s law, plus I was confident due to the positive outcome on my laptop. And sure enough,something went wrong – the door wouldn’t close properly and the fridge kept getting warmer. The technician said this particular problem is not included in the coverage and left. I had to get a different repairman and ended up coughing up a big sum for his labor as well as some parts we had to order from the manufacturer and wait until they arrived (it took a few weeks).
SquareTrade Review
Updated : 2021-10-13
Rating : 7.5/10

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