SquareTrade

SquareTrade: protection plans for electronics and appliances

SquareTrade is an insurance and protection plan company that operates in Europe under the SquareTrade brand and is part of the Allstate Protection Plans group. Its business focuses on the sale and administration of policies covering products such as mobile phones, consumer electronics and appliances, for both end customers and large retailers and mobile operators.

The company presents itself as a company that, over ten years, has transformed the insurance sector through technological innovation and a customer-first approach. According to its own communications, more than 140 million customers worldwide trust SquareTrade to protect their devices, and the company has 90 years of global insurance experience as part of the Allstate family of companies.

Services and claims handling

SquareTrade offers an online claims process available 24 hours a day, seven days a week. The company describes an omnichannel customer experience that includes local repairs, mail-in or at-home repairs, next-day replacement delivery and reimbursements. The stated goal is for customers to get back up and running quickly and without hassle.

Customer service is provided through online and phone channels, with a dedicated team available 24/7. The company notes that customers can file a claim from anywhere in Europe, even if the purchase was made in another country. It also states that it offers coverage for new phones or larger appliances, such as refrigerators, in North America, Australia and Japan.

European presence and regulatory structure

SquareTrade operates in Europe through several legal entities. SquareTrade Limited is registered in England (company number 7165194), with its registered office at 2nd Floor, 5 Golden Square, London W1F 9BS, and acts as an agent of Starr International (Europe) Limited under the Insurance Distribution Directive. SquareTrade Europe Limited (C90216) is authorised in Malta as an insurance agent of Starr Europe Insurance Limited and Cardif-Assurances Risques Divers, with its registered office at 9, Pope Urbanus VIII Street, Birkirkara, Malta, BKR1425. SquareTrade Europe B.V. (number 0786.464.518) has its registered office at Avenue du Port 86C (box 204), 1000 Brussels, Belgium, and operates as a mandated underwriter of Starr Europe.

SquareTrade Europe Limited has been passported to operate in Austria, Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain and Sweden. SquareTrade Europe B.V. has been passported to operate in Austria, Denmark, Finland, France, Germany, Hungary, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain and Sweden. The entities are regulated by the UK Financial Conduct Authority, the Malta Financial Services Authority and the Belgium Financial Services and Markets Authority, as applicable.

Partnerships and business model

SquareTrade works with retailers and mobile operators across Europe to distribute its protection plans. The company also offers business and e-commerce partners of all sizes access to Allstate-branded protection programs through its new business team and its Allstate Protection Plans Express technology solution. The company also has a program for suppliers interested in working with it.

Sustainability and corporate culture

The company places sustainability at the heart of its business, arguing that its business helps customers make better use of their purchases by extending product lifespans. With more than 150 million active plans, SquareTrade seeks to expand its sustainable practices. Internally, the company declares an entrepreneurial culture focused on attracting talent, with values that include customer obsession, innovation, integrity and putting people first. The company also maintains diversity, equity and inclusion initiatives and employee resource groups.

Awards and community activity

SquareTrade has received awards and recognitions in 2021, according to its own website. The company has also made charitable donations, such as a $25,000 contribution to Feeding America, awarded through a grant from The Allstate Foundation.

Headquarters and locations

Main location: 2nd Floor, 5 Golden Square, London W1F 9BS, England

Malta location: 9, Pope Urbanus VIII Street, Birkirkara, Malta, BKR1425

Location 3: Avenue du Port 86C (box 204), 1000 Brussels, Belgium