SquareTrade Device Insurance Review: Is It Worth the Cost?

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.

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:

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

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