SquareTrade Device Insurance Review: Is It Worth the Cost?

SquareTrade device insurance, now available through Allstate, is an optional coverage policy that can extend manufacturer warranties — but it has a lot of exclusions.

Nick Dauk
Written byNick Dauk
Nick Dauk
Nick Dauk
  • 6+ years writing about insurance, travel, and personal finances

  • Contributor to brands like Credible

In addition to insurance, Nick specializes in writing about business, entrepreneurship, personal finance, and travel. He’s been featured in myriad web publications, including Fox Business.

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Sara Getman
Edited bySara Getman
Sara Getman
Sara GetmanAssociate Editor

Sara Getman is an Associate Editor at Insurify and has been with the company since 2022. Prior to joining Insurify, Sara completed her undergraduate degree in English Literature at Simmons University in Boston. At Simmons, she was the Editor-in-Chief for Sidelines Magazine (a literary and art publication), and wrote creative non-fiction.

Outside of work, Sara is an avid reader, and loves rock climbing, yoga, and crocheting.

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SquareTrade is now an Allstate company, offering warranty coverage options as Allstate Protection Plans. Many electronics, devices, and appliances with product issues are eligible for repairs, replacements, or refunds through SquareTrade.

Its availability through partner retailers like Amazon, eBay, Target, and Walmart makes purchasing easy for new customers. No device registration is required prior to purchase.

But the fine print reveals a number of damages that the policy doesn’t cover. Depending on the monthly coverage fee, some smartphone owners may not consider SquareTrade device insurance worth the expense.

Here’s what you need to know about SquareTrade device insurance.

Quick Facts
  • Monthly service fees start at $9 for a SquareTrade phone plan.

  • Coverage from liquid damage isn’t clearly specified.

  • SquareTrade offers coverage for traditional electronics as well as electric vehicle (EV) chargers, gaming equipment, and cameras.

Our take on SquareTrade

SquareTrade can offer peace of mind to electronics owners with high-value devices. The company states that some claims are eligible for instant approval, which increases convenience — especially for people who rely on their laptop or smartphone for work or school.[1]

But its terms and conditions don’t provide explicit details on the extent of coverage, and many former policyholders express frustration with delayed claims service, inadequate customer service, and feeling misled by the specifics of the warranty.

SquareTrade provides warranty coverage for a number of electronic devices, including:

  • Smartphones

  • Laptops/desktop CPUs

  • iPads/tablets

  • Appliances

  • TVs/home theaters

  • Cameras

  • MP3 players/gaming gear

  • Fitness trackers/smart watches

  • EV chargers

Allstate Protection Plans’ pricing through SquareTrade varies depending on the item and its value. Most electronics have options for two-, three-, or four-year accident or protection plans. You pay a monthly premium for phone protection plans, but other plans have an up-front cost.

Some plans also allow you to choose or waive a deductible. For example, laptop plans can range from $80 to $550 depending on the item’s value, contract length, and deductible.[2] The longer the plan and the lower the deductible, the more your policy will cost.

One perk is that customers can purchase a SquareTrade policy when they buy their electronics from a partner retailer. Partnerships include:

Abt
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AJ Madison
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Amazon
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American Home Shield 
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B&H
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Big LotsBoseCelcomCostcoeBay
Exchange Mobile CenterFamous TateFleet FarmFred MeyerFrontdoor
Grand ApplianceH20 WirelessHome DepotHSNMenards
NeweggNFMOffice DepotPorchPottery Barn
Purchasing PowerPure TalkQVCReebleoqRejuvenation
Sam’s ClubSmith’sStaplesTarget Walmart
Pros
  • Plans available through multiple national retailers

  • Covers new, old, and leased phones 

  • Coverage continues when you upgrade your phone

Cons
  • Terms and conditions may vary by retailer

  • May require mail-in repair if no approved repair shops are in your area

  • Must be reimbursed for repairs made at Apple Genius Bar

How SquareTrade works

SquareTrade makes it relatively simple to purchase coverage through its retail partners. While mobile carriers like AT&T, Verizon, and T-Mobile are absent, the list does include national outlets like Target, Walmart, and Amazon. Customers can also purchase it directly through SquareTrade via Allstate Protection Plans.

SquareTrade charges a monthly fee for phone plans and an up-front fee for other plans. For some devices, a deductible is optional, though waiving the deductible will increase the monthly charge. Smartphone users can add up to five phones to their account or purchase a family plan that covers up to four phones. SquareTrade doesn’t require device registration, but registering the receipt at the time of purchase can streamline the claims process in the future.

SquareTrade allows you to file a claim online 24/7 and insists that it approves many claims instantly. But fulfilling the claim may require traveling to a repair shop, waiting for a repair tech to come to your home, or mailing your device in for repairs or replacements.

What SquareTrade covers

SquareTrade advertises accident protection for the following incidents:[3]

  • Cracked screen

  • Mechanical and electrical failures

  • Liquid damage

  • Battery failure

  • Touchscreen failure

  • Speaker/audio failure

  • Charging port failure

  • Software and tech support

The actual terms and conditions offer slightly more clarity:

  • Defects in materials and/or workmanship

  • Damages or defective buttons or connectivity ports

  • Defective pixels

  • Original rechargeable battery failure only

  • Operational failure from power surges

  • Dust, internal overheating, and internal humidity/condensation

Good to Know

Coverage doesn’t detail other types of wear and tear. For example, the terms and conditions only discuss which liquid damage, like storm damage, isn’t part of the warranty coverage. Review the service contract in full or speak with customer support for more detailed information.

What doesn’t SquareTrade cover?

Allstate Protection Plans don’t cover loss, theft, pre-existing conditions like natural flaws, defects, or damages, commercial and industrial use, intentional damage, and irretrievable devices, according to its terms and conditions. Be sure to read the policy documents, including the section that specifically identifies what isn’t covered under Allstate Protection Plans.

SquareTrade coverage plans and pricing

SquareTrade offers two coverage plan categories: one specifically for phone warranties and a second that covers appliances, furniture, and electronics like televisions, EV chargers, and laptops.

SquareTrade phone protection plans are available as single or family plans. Single plans charge for each phone, up to five phones. This plan ranges from $9 to $45 per month depending on the number of phones. Family plans cost a set amount of $20 per month for up to four phones.

All other plans have an up-front fee rather than a month-to-month premium. The price depends on the deductible, how long you want your plan to last, and the value of the item. For example, if you want coverage for your $500 laptop, a two-year plan with a $75 deductible costs $120. A longer three-year plan with no deductible costs $290.

How customers feel about SquareTrade

Allstate Protection Plans has a rating of 4.1 out of 5 stars on Trustpilot. Reviews specifically referring to SquareTrade or cellphones have negative or average reviews, citing the long length of time to receive claim updates. Multiple Reddit threads also cite communication delays and unsatisfactory results when filing claims.

Similarly, the Allstate Protection Plans profile with the Better Business Bureau has a customer review score of 3.39 out of 5 stars. The customers who scored the profile the highest appreciated quick service and the ease of filing claims.

Where SquareTrade stands out

Positive reviews of SquareTrade on Trustpilot tend to focus on the speed of service and ease of fixing a customer’s issue without dispute. Positive reviews are left daily, but few provide specific details related to their unique situation.

Common themes include:

  • Quick resolution to claim issues

  • Above-satisfactory communication with customer service

  • Refund given when repairs couldn’t be made

Where SquareTrade falls short

Whereas Trustpilot is flooded with generic praise for SquareTrade, Reddit users infrequently leverage the platform to provide the full story as to why their experience was “infuriating” or a “scam.” Many cite issues with reimbursements, poor business response, and feeling misled by the warranty offerings of the policy.

Some Redditors cite:

  • Delays in refunds

  • Unsatisfactory results

  • Poor customer service

How to file a device insurance claim with SquareTrade

SquareTrade doesn’t walk customers through the Allstate Protection Plans claims process on its website, though it does give a general indication of what to expect during the claims experience. Before you file any claims, make sure you have your device, proof of purchase receipt, and back up the data.

  1. Log in or create your Allstate Protection Plans account.

  2. Find your plan by selecting your point of purchase from the dropdown menu.

  3. Complete the prompts regarding your claim.

  4. Wait for instant claim approval or for a specialist to contact you.

  5. Take your device to the suggested local repair shop or ship your device to Allstate using the provided packing label.

SquareTrade device insurance FAQs

SquareTrade can provide additional warranty support beyond the manufacturer’s warranty. Consider these benefits and drawbacks when comparing warranty companies.

  • Is SquareTrade device insurance worth it?

    It depends. SquareTrade insurance can be a comforting layer of extra protection, but it’s not a necessity for most smartphone users. Many manufacturer warranties or service provider warranties already cover similar defects and damages. But if you have a high-value item that doesn’t have a warranty, it might be worth it.

  • Does SquareTrade cover water damage?

    SquareTrade claims to cover liquid damage but doesn’t define coverage specifics. Its terms and conditions state that it doesn’t cover liquids created by storms or sea perils, accumulation of body oils or sweat, and (unspecified) liquid damage.

  • Does SquareTrade repair or replace covered devices?

    SquareTrade offers both repair and replacement for devices covered under a protection plan. It may not replace your item with the exact same device. You may receive a product of the same kind, quality, and functionality.

  • Can you buy SquareTrade insurance after you purchase your device?

    Yes. You can purchase SquareTrade insurance after you purchase your device. Allstate Protection Plans claims that old and new phones, purchased or leased, are available for protection as long as they’re working and in good condition.

  • Who owns SquareTrade?

    SquareTrade is a subsidiary of Allstate and is categorized under Allstate Protection Plans. Allstate initiated the purchase of SquareTrade in late 2016 and formally closed on the acquisition in 2017.

Sources

  1. SquareTrade FAQs. "How do I file a claim?."
  2. SquareTrade. "Protection Plans."
  3. SquareTrade. "Protection Plan Terms and Conditions."
Nick Dauk
Nick Dauk

Nick Dauk is a freelance writer specializing in business, entrepreneurship, personal finance, and travel. His work has been featured in Fox Business, BBC, The Edge, Business Insider, and Bisnow. Nick is a first-generation college graduate, having majored in Interdisciplinary Studies at the University of Central Florida. His eclectic coursework, combined with previous managerial roles in the retail and broadcast television industries, have helped him develop an interdisciplinary approach to writing.

For nearly a decade, Nick has created content for mom-and-pop businesses and global corporations. As a travel writer, his global adventures have also been featured on Inside Hook, Houston Chronicle, Culture Trip, and Matador. When he's not traveling, Nick can be found in Orlando spending time with his wife and toddler.

Nick has been a contributor at Insurify since October 2022.

Sara Getman
Edited bySara GetmanAssociate Editor
Sara Getman
Sara GetmanAssociate Editor

Sara Getman is an Associate Editor at Insurify and has been with the company since 2022. Prior to joining Insurify, Sara completed her undergraduate degree in English Literature at Simmons University in Boston. At Simmons, she was the Editor-in-Chief for Sidelines Magazine (a literary and art publication), and wrote creative non-fiction.

Outside of work, Sara is an avid reader, and loves rock climbing, yoga, and crocheting.

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