When you purchase a new TV, you want to ensure your investment is protected for the long haul. While manufacturer warranties provide some coverage, they often fall short in terms of duration and scope. That‘s where extended warranties like Costco‘s SquareTrade plan come in. In this comprehensive guide, we‘ll dive deep into everything you need to know about protecting your TV with a SquareTrade warranty from Costco.
Why Extended Warranties Matter for TVs
Before we get into the specifics of SquareTrade, let‘s look at some key data points that highlight the importance of extended warranties for TVs:
- The average lifespan of a modern flat-screen TV is around 7-8 years, but many experience issues before then (Consumer Reports)
- 30-40% of TVs will need some type of repair during their lifetime (Consumer Affairs)
- TV repair costs can range from $100-$400 depending on the issue; replacement costs are often $500+ (Puls)
- Manufacturer warranties typically only cover 1 year parts and labor
With these realities in mind, an extended warranty can provide valuable financial protection and peace of mind for your TV investment.
What is SquareTrade and How Does It Work with Costco?
SquareTrade is a highly-rated provider of extended warranties and protection plans for consumer electronics and appliances. Founded in 1999, they have built a reputation for affordable, comprehensive coverage and great customer service.
In 2016, Allstate acquired SquareTrade, adding the financial backing and resources of a major insurance company (Allstate). However, SquareTrade continues to operate as a distinct brand focused on consumer warranties.
SquareTrade has partnered with Costco since 2006 to offer extended warranties to Costco members at exclusive discounted rates. According to a SquareTrade representative, "Our relationship with Costco is based on a shared commitment to quality, value, and customer satisfaction. Together, we‘re able to offer Costco members the best possible protection at the best possible price."
When you purchase an eligible TV at Costco, you have the option to add on a SquareTrade warranty at checkout. You can also add the warranty within 90 days of your TV purchase by visiting the SquareTrade website and entering your Costco membership number and item information.
Once you have your SquareTrade warranty, you can easily manage it online. From the SquareTrade site, you can view your coverage details, file a claim 24/7, and get support from their award-winning customer service team.
What Does the SquareTrade Warranty Cover for TVs?
The SquareTrade warranty for TVs from Costco is one of the most comprehensive plans available. It covers:
- Screen burn-in
- Pixel failure and defects
- Mechanical and electrical failures (e.g. power issues, HDMI port failure)
- Speaker/sound failure
- Button failure
- Wi-Fi connectivity issues
- Remote control failure
- Damage from power surges
- Failures due to normal wear and tear
Basically, if anything goes wrong with your TV due to a defect or malfunction, SquareTrade has you covered. The warranty even includes access to complimentary technical support for setting up your TV and troubleshooting issues.
Notably, accidental damage like drops and spills are not included in the standard TV warranty. However, SquareTrade does offer separate accident protection plans for portable electronics like laptops and tablets sold at Costco.
SquareTrade TV Warranty vs. Other Options
When evaluating TV warranty options, it‘s important to look at coverage specifics, costs, and service quality. Here‘s how SquareTrade compares to common alternatives:
| Feature | SquareTrade | Manufacturer Warranty | Other Extended Warranties |
|---|---|---|---|
| Coverage Term | 2-5 years | Typically 1 year | Varies; often max 3-4 years |
| Failure Coverage | Comprehensive | Limited; defects only | Varies; often exclusions |
| Wear & Tear Coverage | Included | Not included | Sometimes; with limitations |
| Cost | 10-20% of TV price | $0 (included) | Often 15-30% of TV price |
| Service Fees | $0 | Varies; $0-$100+ | Often $25-$100 deductible |
| Repair Time | 5 days avg. | Several weeks common | Varies by provider |
| Replacements | Full, no depreciation | Varies; often prorated | Varies; often prorated |
| Support Quality | Strong; 4/5 satisfaction | Inconsistent by brand | Varies by retailer |
As you can see, SquareTrade offers distinct advantages in terms of coverage duration, scope of protection, service fees, and quality of claims service. While you will pay more than relying solely on a manufacturer warranty, the marginal cost of SquareTrade provides substantial value for most TV buyers.
Benefits of a SquareTrade TV Warranty from Costco
There are several key benefits to purchasing your TV warranty through the Costco and SquareTrade partnership:
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Overlapping coverage – Costco‘s standard 90-day return policy and 2-year Concierge Service (for technical support and setup) on TVs combine with SquareTrade coverage for complete, end-to-end protection.
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Cost transparency – SquareTrade plans through Costco have no deductibles or hidden fees. The upfront cost is all you‘ll pay.
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Full replacement value – If your TV can‘t be repaired, SquareTrade will replace it with a new one or provide a full purchase cost reimbursement. With other plans, you may only get partial reimbursement based on depreciation.
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24/7 claims convenience – Claims can be filed online 24/7 for utmost convenience. Most repairs are completed within 5 business days.
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Guaranteed repair quality – SquareTrade backs the craftsmanship of their authorized repairs for 90 days after service.
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Costco-related perks – Because you must be an active Costco member to take advantage of warranty coverage, you effectively maintain or optimize purchase benefits like cash back rewards on the Costco Anywhere Visa.
When you look at the full picture, the SquareTrade warranty through Costco provides value through coverage, cost-effectiveness, and convenience compared to other warranty options.
Customer Experiences with SquareTrade TV Warranties
Overall, customer reviews of SquareTrade are very positive. On Consumer Affairs, SquareTrade as a company has a 4/5 star rating with over 1,500 reviews. Looking at TV warranties specifically, many customers report great experiences with claims and service:
"SquareTrade has been super easy to work with. I got the 5 year plan on an LG OLED TV from Costco. When I had an issue with the display, they quickly sent a box to ship the TV back and I had it returned fixed within 10 days. Much less hassle than going through LG." – Michael L., November 2020
"After only 8 months of owning a 55 inch TV purchased from Costco, it stopped working with no picture. I contacted SquareTrade via the website, entered all the information they requested including pictures of the TV not working. Within 2 days they sent me an email saying the TV could not be repaired and they were going to replace the TV, but because the exact model was no longer available they would refund me the entire purchase price of the TV. Within a week I had a check for the full amount of the original TV. I am completely satisfied with SquareTrade." – Gayle, March 2021 (Consumer Affairs)
Of course, no service is perfect. There are occasional complaints about claims denials or processing delays. However, these appear to be rare exceptions. For most customers, SquareTrade delivers on their promise of comprehensive, economical, hassle-free TV warranty coverage.
Is SquareTrade Worth It For Your TV?
Deciding if an extended warranty makes sense for your TV purchase depends on a few key factors:
- TV cost – The more you spend, the more financial sense an extended warranty makes.
- TV technology – Advanced features like OLED or 8K may increase potential for issues.
- Risk tolerance – Some consumers prefer paying more for assured coverage.
- TV criticality – If your household relies on the TV for work or education, downtime is more disruptive.
- Brand reputation – Researching a manufacturer‘s reliability and service quality are part of a smart decision.
In general, consumer advocates like Consumer Reports recommend considering an extended warranty if the cost is 15-20% or less of the TV purchase price (Consumer Reports). SquareTrade plans through Costco meet this guideline, typically coming in under 15% of the retail price.
For example, a 2-year SquareTrade warranty on a $500 TV would cost around $48. For a $2000 TV, the 5-year plan is around $200. Considering the value provided by SquareTrade‘s coverage terms and quality of service, those prices are likely justifiable for most Costco TV shoppers.
Another factor to consider is the environmental benefit of repairing rather than replacing malfunctioning TVs. By providing affordable, effective TV repairs, SquareTrade helps reduce e-waste and supports a more sustainable consumption model. Customers can feel good that their warranty investment is also an eco-conscious choice.
When evaluating any warranty, always read the specific terms and conditions so you understand the coverage details. The Costco Concierge team can also help answer questions about how SquareTrade integrates with Costco‘s policies and services.
Purchasing and Activating Your SquareTrade Warranty
Purchasing a SquareTrade plan for your Costco TV is straightforward and affordable. Specific plan options and prices may vary based on TV price and features. However, here are the general parameters:
- 2-5 years of coverage terms available
- Prices range from under $50 to $120 for most TVs under $2000
- Discounts sometimes available for longer plans (e.g. 5 years vs. 2 years)
You can add the SquareTrade plan at checkout when buying your TV or within 90 days after purchase. To add post-purchase:
- Go to squaretrade.com/costco
- Enter your contact info, Costco membership number, and TV details
- Select your desired plan and complete checkout
Once you purchase, you‘ll receive a confirmation email. You can then register your warranty online and access your full plan details. Be sure to save digital copies of your TV and SquareTrade purchase receipts in case you need to file a claim.
Key Takeaways
- SquareTrade‘s TV warranty, offered exclusively through Costco, provides comprehensive coverage for mechanical/electrical failures, burn-in, dead pixels, and more
- Plans are affordably priced at 10-20% of TV purchase price, with $0 deductible
- SquareTrade offers superior claims service with 24/7 online filing, 5-day turnaround, and guaranteed repair quality
- Customer reviews of SquareTrade TV warranty service are consistently positive
- An extended warranty is worth considering for most Costco TV purchases based on SquareTrade‘s coverage, cost, and ease of service
While the added cost of a warranty requires careful consideration, the potential for costly TV repairs is a significant financial risk. SquareTrade‘s Costco-exclusive program offers strong overall value by combining robust coverage, fair prices, and a proven track record of claims satisfaction.
Ultimately, the choice to purchase a SquareTrade warranty is a personal one based on your unique situation and preferences. However, for many Costco members, the peace of mind and protection provided by SquareTrade is well worth the reasonable upfront cost.
