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Tuesday August 4, 2009
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 Ever feel like you're getting ripped off by purchasing electronics warranties? You're not alone. Warranties are overpriced and shoved in your face at the check-out counter, not allowing you time to do your research.
Steve Abernethy felt the same way before he decided to do something about it. I chatted with him last week about his online venture known as SquareTrade: a sensible, no-pressure warranty program that's 50 percent less in cost than traditional warranties you'd buy at retail stores such as Best Buy or Sears.
Within 90 days of your product purchase, you can get a warranty through SquareTrade. Once you've bought a warranty, you can fax in a copy of the store receipt to SquareTrade for proof of purchase in the event of a claim. That way, in case your product fails, SquareTrade will already have the receipt in its system and you won't have to go looking for it.
Want to know what you'll pay for a warranty first? You can get an instant warranty quote just by entering the product name, price, and condition.
Learn more about this money-saving warranty program, after the jump.
 The service offers warranties on cell phones, MP3 players, laptops, televisions, displays, cameras, GPS devices, video game consoles, appliances, and more. Warranties for these types of products can be had at prices that are significantly less than other warranties. For example, Dell offers a $299.99 3-year warranty on a Dell XPS laptop; but at SquareTrade, you can get a 3-year warranty for the same laptop at a price of $124.99.
Another advantage to buying a warranty from SquareTrade is that the company also covers used and refurbished items, not just new. Typically you'll only get a 90-day manufacturer warranty with these types of conditioned products; SquareTrade, however, will offer you 1-year and 2-year warranties on unlocked cell phones, gray-market/international items, non-manufacturer refurbished items, used items, and on items where the seller is not the authorized dealer (such as on eBay).
In business since 1999, Abernethy focused on three principles while developing SquareTrade: price, service, and pressure sale. First, he wanted to offer product warranties that are lower in price than other warranties; you're already paying a lot to purchase your product in the first place!
 Second, creating a transparent service was important to him: no gimmicks, no hidden agendas, just a high-quality service in which consumers would feel like they're getting a good deal on extending the life of their products. SquareTrade's "5-day service guarantee" means that if your product has a mechanical or electrical failure, it will be repaired, or you're paid for the full price of the item within five days, or your service and the warranty are both free.
Third, Abernethy said that you should "choose to buy [[a warranty]] rather than be pushed." Too often are consumers pressured into buying a product warranty when checking out at the register. SquareTrade doesn't pressure you; it simply provides you with an option that's available when you're ready.
 Abernethy explained that the $10-billion warranty industry is based on breakage, meaning that companies are hoping that consumers will forget about their coverage or lose the paper contract, thus never utilizing the warranty should their product break. SquareTrade wants you to always be aware of your coverage dates and terms. That's why you're given your own online account for viewing your warranty any time of day; it's completely paperless, ensuring that you'll never lose your coverage information.
And since this is TechSaver, here's another money-saving option you'll find at SquareTrade: The company offers weekly deals on its warranty programs. The most recent one was for Sprint purchases.
For more information, check out SquareTrade.com.
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