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LockedSquaretrade.com Warranty v. Sears Protection Plan

posted on January 28, 2010 at 05:06PM Inappropriate?

I would love to know why a 3 year warranty from Squaretrade.com costs 109.99 for a 999.99 LCD TV while a 3 year protection plan from Sears would cost 319.99.  The terms of the protection plans are almost identical and both companies boast the same promises.  Even a 4 year protection plan at Best Buy runs 179.99 with the premium protection plan costing 279.99.  That is still 40 dollars less for an extra year of protection.  I don't understand why Sears inflates their protection plan price so much, other than to increase profits.  Do they not believe in the products so much that they have to offset repair costs with such an outrageous protection plan?

replies: 45 latest post: February 18, 2010 at 01:02PM by Alexx002
Displaying posts 1 - 20 of 45 in total
posted on January 28, 2010 at 05:11PM
 

I haven't looked into it... but I'm willing to bet the Protection Plan from Sears and the Warranty from Squaretrade.com isn't "identical" at all.

posted on January 28, 2010 at 05:24PM
 

Take a look at the contract language.  Same coverages and exclusions.  The only possible thing Sears may be able to claim is a more stable company which will more than likely be around for all three years.  Similar lemon policies, etc.  I mean the protection plan for three years is nearly a third of the price of the product.  Additionally the three years starts from the date the plan is purchased which means it shares 1 year with the manufacturers warranty so I am essentially paying for 2 years.  I will gladly admit that squaretrade and BB are the same, but at least they don't charge such outrageous amounts.

posted on January 28, 2010 at 05:24PM
 

I belive almost identical would be the correct quote........

posted on January 28, 2010 at 05:26PM
 

I'm gonna have to agree with Rob, most online warranties are basically beefed up extended manufacturer warranties.  I don't normally go by this standard, but in the case of MPA's vs. extended warranties, you get what you pay for.

posted on January 28, 2010 at 05:30PM
 

Yes, let's quibble over my exact language without providing any explanation whatsoever.  Feel free to post the T+C of each policy and we can compare them.  I would just like some kind of explanation for this.  Some people may fear purchasing a warranty from an online company, which may cause ST to compete with lower prices, but I mean Sears doesn't even come close to BB's prices.  I just don't understand how Sears can honestly sell a protection plan at a third of the price of the product when BB, a direct competitor, is selling the same thing for half the price.  But please let's continue discussing my language.

posted on January 28, 2010 at 05:38PM
 

I'm at work and don't have an opportunity to compare the two.  However... BlueCrew guy (from Mass?) would be the guy to do this effectively.  He successfully compared the service between Lowe's and Home Depot's extended warranties and the Sears Protection Plans.

Guarantee they are different enough.

posted on January 28, 2010 at 05:44PM
 

I'll have to go look it up, but if I remember correctly, Best Buy's warranty or whatever they call is missing some of the key components of what Sear's offers.  They have the disadvantage of starting after the manufacturer's expires instead of during.  They don't cover cosmetic damages, they don't include preventive maintenence, they don't include rental costs nor do they provide money for laundry services if laundry units break down or foor replacement costs if refrigeration fails.  Best Buy is better then HD and Lowes though in it also provides phone support like Sears.  That's just off the top of my head, like I said I'll have to go back and look further in depth.  Also, some food for thought, I'm not sure if the website you're talking about does or not, but most of those warranties are considered complete once repairs exceed a certain cost point. 

posted on January 28, 2010 at 05:47PM
 

Ok, well I would appreciate such a discussion.  I apologize if I sound annoyed, the TV I would like to purchase is only available at Sears and not carried by BB.  Which means I pay an extremely inflated protection plan or purchase an online one.  The only reason I would purchase at a brick and mortar rather than internet would be for the protection plan.  But I won't spend such an extreme amount for a warranty, so instead of buying in person from sears I'll order from amazon.

posted on January 28, 2010 at 05:49PM
 

I mean I'm not going to worry about any food spoilage or laundry service if my LCD has problems.  Do you see my point, I am being asked to pay a ridiculous premium for services that are available but have absolutely nothing to do with a television.

posted on January 28, 2010 at 06:03PM
 

Like I said I'm not overly familiar with the TV side of it, but you wouldn't be paying for services that you wouldn't be using. 

posted on January 28, 2010 at 06:25PM
 

The only other thing you might want to look at if you go with an online warranty is who you go to to get the TV repaired or where you have to send the tv.

posted on January 28, 2010 at 08:10PM
 

There is also DTV express which offers in home service.  As a customer I care not to quibble, but I often have diffrent opinions.  I have read many a post on the subject and the first thing to pop is is that exact statemet about not being identical....thus my remark...you your self said nearly identical and I wanted to be sure your respondent had that as a cue as from reading that post it seemed not.

Im suprised you have not yet heard the yearly pm check speech yet.

posted on January 28, 2010 at 09:26PM
 

Source: http://www.geeksquad.com/services/content.aspx?id=2005&menu_id=495

http://www.geeksquad.com/gslibrary/services/content/black_tie_protection/terms_and_conditions/20080914/20080914TC.pdf

 

Here a few differences that I can find for Sears and BB:

- Reading their terms, they will not provide a replacement for more then the purchase price of the original product. I have seen $599.99 items be authorized for up to $1100 with a replacement authorization. They also give themselves the right to replace with a similarly featured product of a lower price. Sears will always give you your purchase price.

- Best Buy also starts from the date of purchase. Not a difference, just remembering that it was brought up.

- BB also offers preventative maintenance on many of their products, phone service is limited to 4 calls per year on most products however. It is also only available through the premium plan. I also cannot decipher whether or not they do the repair in home. The language of the contract suggests they pick up the machine and bring it somewhere. It also later suggest they do it in home. I'm confused.

- You have to have your original receipt and all corresponding paperwork to recieve service under the BB plan. Sears requires a phone number.

I'll bet there are a few more, I'm just tired of reading legalese.

posted on January 28, 2010 at 10:09PM
 
In response to TriCoRob's post from January 28 2010 05:38PM
TriCoRob said…

I'm at work and don't have an opportunity to compare the two.  However... BlueCrew guy (from Mass?) would be the guy to do this effectively.  He successfully compared the service between Lowe's and Home Depot's extended warranties and the Sears Protection Plans.

Guarantee they are different enough.


Calling for help, are you, Rob?

This particular "warranty extender" is surely different, and has nothing whatsoever to do with Lowes, Home Depot, or Best Buy.

Since it is so different than any that BCG has compared in any topic I have read recently, I sincerely doubt that he will step into this mix.

I purchase SquareTrade extended warranties on ALL my purchases, and am happy to debate their value as compared to "MPA's" with anyone who cares to join in on the topic.

They have the "oversight" folks consistently giving them positive points, they are far cheaper, they clearly match the language of the original mfg's warranty (they simply extend the same), and have the ratings/reviews to compare to any others out there.

(Honestly, who cares about a once-a-year "checkup" on their purchases? If the items are of good quality, that means jack)

And they have NO ties to the repair entities that some others do.... (A&E, anyone?)

In short, they don't make a cent from making you jump thru hoops. Just check their reputation on the 'net, and make the call for yourself. ;)

Let the debate begin.... (But I kinda doubt there will be much debate)

posted on January 28, 2010 at 10:38PM
 

Manufacturer warranties do not cover anything that can be considered wear and tear. Only defects in material and workmanship. What could possibly happen to a television, three to five years after purchase, that ANY repair service is going to call a defect? That has "Sorry, this malfunction was caused due to normal wear, nothing we can do for you," written all over it.

On a side note, I had never looked at BB's plan before now, since they are not a direct competitor of anything I sell, but theirs is the closest I have seen to Sears. They also have a forum filled with slandering (or libeling, I guess, since these posts are written), hateful threads like this site. I found that to be refreshing.

posted on January 28, 2010 at 11:45PM
 
In response to WallyP's post from January 28 2010 10:38PM

"Wear and tear" on an LCD TV? Yeah, they do tend to be carried around alot, I guess.

Hooking up gaming consoles, sound systems, etc.

Wear and tear is an expected issue, there...

posted on January 28, 2010 at 11:48PM
 

From Squaretrade.com:

GUARANTEE:

Our Obligations under this Service Agreement are guaranteed under a reimbursement insurance policy issued by Wesco Insurance Company. Wesco Insurance Company is located at 59 Maiden Lane, 6th Floor, New York, NY 10038 and you may contact them toll-free at (866)-505-4048. If We fail to pay or provide service on a claim within sixty (60) days after proof of loss has been filed, You are entitled to make a claim directly against Wesco Insurance Company.
NOTE: THE ABOVE GUARANTEE DOES NOT APPLY TO SERVICE AGREEMENTS SOLD IN THE STATE OF FLORIDA.

PURCHASE PRICE:
The Purchase Price of this Service Agreement is printed on the purchase receipt (“Receipt”) provided to you at the time you purchased this Agreement.

COVERED PRODUCT:
The Covered Product is the product for which you purchased this Service Agreement and which is listed on your Receipt.

TERM:
1) The term of the Service Agreement for MSP products shall be listed on your Receipt commencing on the date of purchase of the eligible Product(s) and inclusive of the US manufacturer’s warranty. This Service Agreement does not replace the manufacturer's warranty, but provides certain additional benefits during the term of the manufacturer's warranty.
2) The term of the Service Agreement for OP products shall be as listed on your Receipt, commencing on the sixty-first (61) day after the date of purchase of the Product, or at the end of any existing warranty longer than sixty (60) days. We shall not be responsible for product failure within the first sixty (60) days after the date of purchase of the eligible Product(s). The No Lemon Coverage is not applicable to OP products. (So, normal wear and tear/power surge damage/non-defect issues are not covered during the first 60 days. Sears Protection Agreement starts on day 1. +Sears)

3) If a Product is represented to be an MSP product and determined to be otherwise, we reserve the right to either change the term of the Service Agreement to that of OP products or cancel this Service Agreement and refund Your premium.

WHAT IS COVERED MSP & OP:
This is not an insurance policy. This Agreement will cover a mechanical or electrical failure of the covered product(s) (“Product”) during normal usage for the Term of this Service Agreement if the Product is not covered under any other warranty, insurance policy, or service contract. We will issue a voucher or check for the original purchase price up to the Limit of Liability or Products may be repaired or replaced with a new, rebuilt or refurbished product of equal or similar features and functionality at our discretion. Replacement parts will be new, rebuilt or non-original manufacturer's parts that perform to the factory specifications of the Product at our sole option.

(So, if replaced, you'll either get money to replace it, or THEY will choose an item to replace it with, and that could be something that's been refurbished. Sears will only ever replace with brand new products, based on the original product's regular price. And Sears will only use new parts, unless new parts are no longer being manufactured. Sears will not use rebuilt/remanufactured parts purely as a discretionary action. +Sears)

This Service Agreement does not cover repair or replacement of the Product for any of the causes or provide coverage for any losses set forth in the section entitled WHAT IS NOT COVERED below.

WHAT TO DO IF A COVERED PRODUCT REQUIRES SERVICE:
Go to www.squaretrade.com or call us toll-free at 1-877 WARRANTY (1-877-927-7268) and explain the problem. We will attempt to resolve the problem You are experiencing over the telephone. If We can not resolve the problem, You will be directed to an authorized service center. (Who is this "authorized service center?" I don't know either. But, with Sears, it will be Sears doing the work, either through Sears directly or through A&E, a division of Sears repair. You always know who you'll be doing business with through Sears. +Sears) Service will be provided within a reasonable time of Your request, during normal business hours and in the US only. (They promise within a "reasonable time of Your request," but they don't define "reasonable." Some people think 2 hours from the phone call is reasonable. Why set up an expectation that you can't follow through upon? We don't make any such claims, to avoid the illusion that there's some sort of guaranteed timeframe, because we know that it's not a reasonable promise to make. No falsely set expectations. +Sears) You may contact Us at the above listed number if you need additional assistance or have further questions regarding this Service Agreement.

(continued)

posted on January 28, 2010 at 11:49PM
 

PURCHASER RECORDS:
Although We maintain a record of Your Service Agreement purchase, You must have in Your possession a copy or Your original purchase receipt in order to present a claim. (You don't need to have ANY paperwork of any kind to get service with Sears. Sears has copies of all records regarding your purchase and any/all services rendered. +Sears)

PLACE OF SERVICE:
At our discretion, large items will receive On-Site Service and we will arrange to repair or replace the Product at Your location during normal business hours.
For shippable items You will be responsible for safe packaging and delivery or shipment, prepaid and insured, of the Product to Our authorized service facility for repair or replacement. If the authorized service facility determines the item is in working condition or is not covered by Your Service Agreement, You will be responsible for paying shipping charges for Your Product. (Shipping charges? Packaging? Prepaid and insured? Seriously? +Sears)

LIMIT OF LIABILITY:
The total amount that We will pay for repairs or replacement made in connection with all claims that You make pursuant to this Service Agreement shall not exceed the purchase price of the Product, less taxes. (Sears can, and sometimes does, make repairs in excess of the original purchase price of the product, and there is no cumulative total restriction for repair costs with Sears. +Sears) In the event that We make payments for repairs, which in the aggregate, are equal to the purchase price or replace the Product with a new, rebuilt or refurbished product of equal or similar features and functionality, We will have no further obligations under this Service Agreement. (So, their plan ends with either replacement or repairs that end up costing as much as replacement. Sears Protection Agreements carry over to the replacement product, and don't end just because some arbitrary repair cost threshold has been reached. +Sears)

WE SHALL NOT BE LIABLE FOR ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES, INCLUDING BUT NOT LIMITED TO, PROPERTY DAMAGE, LOST TIME, OR LOST DATA RESULTING FROM THE FAILURE OF ANY PRODUCT OR EQUIPMENT OR FROM DELAYS IN SERVICE OR THE INABILITY TO RENDER SERVICE.

DEDUCTIBLE:
There is no deductible for this Service Agreement except for claims as a result of accidental damage from handling (ADH) coverage. The applicable deductible for ADH coverage claims is defined in the section entitled “Optional Accidental Damage from Handling” below, and will be listed on Your Receipt.

OPTIONAL ACCIDENTAL DAMAGE FROM HANDLING (ADH):
Only MSP products are eligible for ADH coverage. If You elect to include accidental damage from handling (ADH) as an integral part of Your coverage program, it augments Your Product warranty by providing additional protection to Your MSP product. ADH coverage begins on same day as item purchase if you purchase the coverage on the same day as your item. If you purchase ADH coverage after the day of your initial item purchase then coverage begins on the 31st day after the date of purchase. The term of the ADH coverage will be listed on Your Receipt. There is a $50 deductible for claims made under the ADH provision.

If You purchased ADH coverage on a Product that turns out not to be an MSP product, ADH coverage will be declined and You will receive a refund for this coverage.
ADH does not provide protection against normal wear and tear, theft, loss, negligence, viruses, reckless, abusive, willful or intentional conduct associated with handling and use of the product, cosmetic damage and/or other damage that does not affect unit functionality, or damage caused during shipment between You and Our service providers. If protective items such as covers, carrying cases or pouches, etc., were provided or made available for use with Your product, it is expected that You will continually use these product accessories for protection against damage to the product. Abuse is defined as Your intentional non-utilization of protective items during product use, or Your treatment of the product(s) that You have purchased for Your use in a harmful, injurious or offensive manner that may result in its damage. Any resultant damage from this type of treatment is NOT covered by this ADH program.

WHAT IS NOT COVERED: A. ANY PRODUCT FRAUDULENTLY DESCRIBED OR MISREPRESENTED BY THE ITEM SELLER;
B. MAINTENANCE, REPAIR OR REPLACEMENT NECESSITATED BY LOSS OR DAMAGE RESULTING FROM ANY CAUSE OTHER THAN NORMAL USE AND OPERATION OF THE PRODUCT IN ACCORDANCE WITH THE MANUFACTURER’S SPECIFICATIONS AND OWNER’S MANUAL, INCLUDING BUT NOT LIMITED TO, THEFT OR LOSS, EXPOSURE TO WEATHER CONDITIONS, FAILURE TO PROPERLY CLEAN, MAINTAIN OR LUBRICATE, OPERATOR NEGLIGENCE, MISUSE, ABUSE, IMPROPER ELECTRICAL/POWER SUPPLY, UNAUTHORIZED REPAIRS, IMPROPER EQUIPMENT MODIFICATIONS, ATTACHMENTS OR INSTALLATION OR ASSEMBLY, VANDALISM, ANIMAL OR INSECT INFESTATION, RUST, DUST, CORROSION, DEFECTIVE BATTERIES, BATTERY LEAKAGE, OR ACTS OF NATURE OR ANY OTHER PERIL ORIGINATING FROM OUTSIDE THE PRODUCT;
C. COSMETIC DAMAGE TO CASE OR CABINETRY OR OTHER NON-OPERATING PARTS OR COMPONENTS WHICH DOES NOT AFFECTTHE FUNCTIONALITY OF THE COVERED PRODUCT;
D. TELEVISION OR PERSONAL COMPUTER MONITOR SCREEN IMPERFECTIONS, INCUDING “BURN-IN” OR BURNED CRT PHOSPHOR;
E. PROJECTOR OR REAR PROJECTION TV BULBS UNLESS THAT SPECIFIC COVERAGE HAS BEEN PURCHASED WITH YOUR SERVICE AGREEMENT;
F. DAMAGED OR DEFECTIVE LCD SCREENS WHEN THE FAILURE IS CAUSED BY ABUSE OR IS OTHERWISE EXCLUDED HEREIN;
G. ALL EQUIPMENT INTENDED FOR HEAVY COMMERCIAL OR INDUSTRIAL USE SUCH AS PROFESSIONAL PRINTERS RETAILING FOR OVER $2,000; RIDING MOWERS OR BACK HOE TYPE PRODUCTS; ;
H. ACCIDENTAL OR INTENTIONAL DAMAGE, CRACKED OR DAMAGED MONITOR, LAPTOP OR DISPLAY SCREENS, LIQUID DAMAGE, LOST BUTTONS OR KNOBS ETC., UNLESS OPTIONAL ACCIDENTAL DAMAGE FROM HANDLING (ADH) COVERAGE WAS PURCHASED WITH YOUR SERVICE AGREEMENT;
I. ANY AND ALL PRE-EXISTING CONDITIONS THAT OCCUR PRIOR TO THE EFFECTIVE DATE OF THIS CONTRACT, INCLUDING INHERENT PRODUCT FLAWS SUCH AS FLAWS IN GEMSTONES;
J. CASES WHEREIN THE MANUFACTURER ACKNOWLEDGES THE EXISTENCE OF A VALID US MANUFACTURER’S WARRANTY AND DENIES A CLAIM AGAINST THE MANUFACTURER WARRANTY;
K. ACCESSORIES SUCH AS POWER ADAPTORS, AND/OR CONSUMER REPLACEABLE OR CONSUMABLE ITEMS SUCH AS BUT NOT LIMITED TO BATTERIES, BULBS, TONER, RIBBONS, INK CARTRIDGES, DRUMS, BELTS, PRINTER HEADS, BELTS, BLADES, STRINGS, TRIM ETC.;
L. PRODUCT(S) WITH REMOVED OR ALTERED SERIAL NUMBERS;
M. DAMAGE OR EQUIPMENT FAILURE WHICH IS COVERED BY MANUFACTURER’S WARRANTY, MANUFACTURER’S RECALL, OR FACTORY BULLETINS (REGARDLESS OF WHETHER OR NOT THE MANUFACTURER IS DOING BUSINESS AS AN ONGOING ENTERPRISE);
N. DAMAGE TO COMPUTER HARDWARE, SOFTWARE AND DATA CAUSED BY, INCLUDING, BUT NOT LIMITED TO, VIRUSES, APPLICATION PROGRAMS, NETWORK PROGRAMS, UPGRADES, FORMATTING OF ANY KIND, DATABASES, FILES, DRIVERS, SOURCE CODE, OBJECT CODE OR PROPRIETARY DATA, OR ANY SUPPORT, CONFIGURATION, INSTALLATION OR REINSTALLATION OF ANY SOFTWARE OR DATA;
O. CHARGES RELATED TO TRANSPORTATION DAMAGE, CUSTOMER EDUCATION, CLEANING, PREVENTIVE MAINTENANCE, “NO PROBLEM FOUND” DIAGNOSIS, NON FAILURE PROBLEMS, INCLUDING BUT NOT LIMITED TO, ITEMS NOT COVERED SUCH AS NOISES, SQUEAKS, ETC; INTERMITTENT ISSUES ARE NOT CONSIDERED PRODUCT FAILURES.
P. JEWLERY OR WATCHES THAT THAT ARE USED OR REFURBISHED AT THE TIME OF PURCHASE.

(So, no preventive maintenance, no cosmetic defect coverage, "no problem found" services are charged to the customer, as are services related to non-failure issues like unusual noises, claims that are denied by the manufacturer are not covered, anything that happens prior to the 61st day of ownership isn't covered, and this is SUPPLEMENTAL to the regular plan...hm. +Sears)

(continued)

posted on January 28, 2010 at 11:50PM
 

TRANSFER OF SERVICE AGREEMENT:
This Service Agreement may be transferred to any person in the United States. However, the ability to return or cancel this Agreement for a full refund of the purchase price is nontransferable. Log in to www.squaretrade.com, or contact Us toll-free at 1-877 WARRANTY (1-877-927-7268) 24 hours a day, seven days a week.

NO LEMON POLICY:
If Your Covered Product is an MSP product and has three service repairs completed for the same problem, which repairs are covered by this Service Agreement, and a fourth such repair for the same problem occurs, as determined by Us, within any twelve (12) month period, the Covered Product will be replaced with a comparable product. (4 repairs for the SAME issue? Sears replaces for 4 functional failures, not 4 of the SAME functional failure. +Sears) The cost of the replacement will not exceed the original Product’s purchase price and may be less due to technological advances. (Sears will actually allow you to get something bigger/better than what you originally purchased if it's available for the dollar amount allowed. +Sears) The original Product and purchase receipts must be returned to Us along with authorized service receipts from the three prior repair incidents to qualify. (WHAT?! Who keeps all that stuff? Sears doesn't make you send in ANYTHING to get a replacement. +Sears) Preventive maintenance, checks, cleanings, Product diagnosis, customer education, accessory repairs/replacements, computer software related problems and repairs done outside of the continental USA are not considered repairs for the purposes of the No Lemon Policy. Upon replacement of a Product, We will have no further obligation to repair or replace the replacement Product and You will not be entitled to make any claims under this Agreement for its repair or replacement. (As stated before, their plan ends at replacement. Sears carries over its protection onto the replacement product. +Sears)

POWER SURGE PROTECTION:
This Service Agreement protects against the operational failure of a covered Product resulting from a power surge while properly connected to an Underwriter Laboratories-approved surge protector. You may be asked to provide Your surge protector for examination. (Sears makes no such requirement for power surge damage coverage, though you really should use a surge protector. +Sears)

WORLDWIDE SERVICE :
Worldwide Service protects Your Covered Product outside the manufacturer’s warranty when you travel overseas. If your product needs repair overseas, you may file a claim online to obtain a claim authorization number. You will need to carry the Covered Product into an authorized service center, have the service center provide an estimate for the repair and provide the estimate to the Administrator so the total repair can be approved. You will submit payment to the service center and then submit to the Administrator a copy of the detailed service repair invoice that identifies the Covered Product, the repair authorization number, and include a thorough description of the repair made. This documentation should be faxed or emailed into the Administrator and the Administrator will reimburse you within 5 days of receipt of all necessary paperwork, provided a covered repair was performed. If you would like to file by phone, call 408-969-1115. Our hours are 6am – 5pm Pacific Standard Time. Note: Worldwide service does not include shipping or on-site service. (Ok, Sears doesn't do worldwide service. Then again, look at all the foolishness involved. Think anyone would ever try to take them up on this?)

CANCELLATION:
You may cancel this Service Agreement for any reason at any time. To cancel it, log in to www.squaretrade.com or contact Us toll-free at 1-877 WARRANTY (1-877-927-7268) 24 hours a day, seven days week. If You cancel this Service Agreement within the first thirty (30) days after receipt of this Service Agreement You will receive a full refund, less any claims paid, where allowed by law. If You cancel after the first thirty (30) days from receipt of this Service Agreement, You will receive a pro rata refund based on the time remaining on Your Service Agreement, less an administrative fee, not to exceed ten percent (10%) of the price of the Service Agreement or ten dollars ($10.00), whichever is less, and less any claims paid, where allowed by law. In Alabama, Arkansas, Hawaii, Minnesota, Nevada, New York, South Carolina, Texas, and Washington: If You cancel Your Agreement within thirty (30) days of receipt of the returned Agreement and do not receive a refund within thirty (30) days, a ten percent (10%) penalty per month shall be applied to the refund. In Maryland, Texas, and Wyoming: If You cancel Your Agreement within thirty (30) days of receipt of the returned Agreement and do not receive a refund within forty-five (45) days, a ten percent (10%) penalty per month shall be applied to the refund. (So, basically, if you cancel, and you've ever had ANY service, you get a refund of $0. They charge a cancellation fee, they charge for services rendered, and they give a pro-rated refund after the first 30 days - even though coverage doesn't start until DAY 60! Meanwhile, Sears will give a 100% refund during the manufacturer's full warranty period, with no charges, no deductions. 100%. After that, it's pro-rated based only upon time. Still no deductions. Still no charges. +Sears)

We may cancel this Service Agreement at Our option on the basis of nonpayment, fraud, misrepresentation, unauthorized repair, or unauthorized replacement. We reserve the right to inspect the Product from time to time. (Wait...what? They can inspect the product when they choose? What the heck is that about? +Sears) If We cancel Your Service Agreement, You will receive a pro rata refund less any claims paid, where allowed by law. If this Service Agreement was inadvertently sold to You on a product which was not intended to be covered by this Service Agreement, We will cancel this Service Agreement and return the full purchase price of the Service Agreement to You. If We cancel this Agreement, written notice including effective date and reason for cancellation will be mailed to You at least 15 days prior to termination. No notice will be provided if cancellation is for nonpayment, material misrepresentation, or a substantial breach of duties by You.

So, I wouldn't really call this and the Master Protection Agreement "identical." Squaretrade cuts a lot of corners to keep its prices down. That's how most of these plans work. That's why Sears doesn't have cheapy plans. We'd rather give you the full suite of benefits than the watered down version.

As for the difference with Best Buy's prices: their plans end at replacement as well. TANSTAAFL.

posted on January 29, 2010 at 03:33AM
 
In response to Flex68's post from January 28 2010 11:45PM

Carried around? What?

You have a 4 year extended manufacturer warranty for 5 total years.

Year 4 you have problems with the picture.

Was it a defect or normal use of the television? You say defect, of course, but the company says if it was a defect, it surely would have happened before year 4.

Argument ensues.

That's how I see that scenario playing out.

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