Damn... SquareTrade fine print

[mitsuhashi]

Minor rant / talking to myself coming up. 

I love the idea of SquareTrade -- get a much better warranty than what the product manufacturer offers, and for cheap, too, if we're talking about a new product. I've got a few products under their warranty, but just recently needed to use one for the first time.

The product in question is a Seagate 2TB drive, and the 3-year SquareTrade plan was $12.49. I figured that the plan would pay for itself with free shipping alone if I had to send in the drive for repairs.

It won't. Not yet, anyway. Another lesson to always read the fine print, I guess. The SquareTrade warranty only really kicks in after the manufacturer warranty expires. Since the drive has a 2-year warranty, and my plan is for 3 years, I only have full benefits for a year.

There's still some peace of mind that I get from the plan as its coverage scope is a bit wider than the manufacturer's warranty, so I'm still keeping some hope that it'll come in useful someday.

I noticed from their site the following (which is awesome if true):


"Electronics under $300 generally are not repairable for less the item price and for these items we will pay you the cost of your item so that you can go out and buy a replacement."
Does anyone have first-hand experience with these guys? If so, what broke, and how did SquareTrade respond?

EDIT: Source.

 

[rds100]

I think this drive comes with a 3 years warranty by default? Though it might vary by country.

 

[vampireJ]

It makes sense that your warranty would be after your manufacturer warranty

 

[bccd]

I think that they will give you a gift card for the price you paid for the hard drive. That's how it works from another company that sells plans like that at my work. 

The plan will come into effect after the manufacturers warranty ends then the squaretrade plan will come into effect. All you have to do is call them and say that you item is broken they should send out a gift card. Sometimes you might have to send the item back to them.

 

[rds100]

Hmm i wonder how this works. What stops people from intentionally burning their HDD every 2 years, and then getting the money to buy a new one? After two years you can buy a better HDD for the same price.

 

[Roger]

I concur that reading the fine print is ALWAYS a must!

 

[qps]

This is pretty standard for add-on warranties not purchased through the manufacturer.