Written by Dana Getz + 1 other
Reviewed by Jacquelyn Kfoury Updated 06/26/2024
Dana Getz is an experienced content manager with more than a decade of publishing experience across various industries. She has spent the last several years covering home services, specializing in home warranty recommendations and helping consumers make informed purchasing decisions.
Jacquelyn Kfoury has more than 20 years of experience in the home services industry. She has expertise in consumer and commercial warranties, service contracts, claims processing, and repair fleet services. She began her career in telecom warranty management at Motorola before transitioning to S…
SquareTrade is an Allstate company that offers extended warranties for a variety of items, including appliances, electronics, and furniture. Allstate has been in business for more than 85 years and, coupled with Squaretrade, they have over 70 million active policies.
In this review, we discuss SquareTrade appliance warranty plans, pricing, and customer reviews to help you determine if this is the best home protection plan for you and your home appliances. At the end of the article, we also mention some of our top-rated home warranty companies.
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SquareTrade lists four appliance warranty plans on their 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:
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:
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.”
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 |
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.
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.
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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.
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:
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 has a 4-star rating on Trustpilot. Out of more than 13,000 reviews, 74% of reviewers said they had an excellent experience, while 12% 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.
“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 Turner, 5 stars, Trustpilot, 3/4/2020
“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, 2 stars, Trustpilot, 2/4/2020
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.
