When Is the Walmart Protection Plan Worth It?

You bought a new tablet, but what if an accidental drop cracks the screen? You bought a new toaster, but what if a power surge renders it … toast?

That’s where Walmart Protection Plans come in. Powered by SquareTrade, an Allstate company, these plans kick in the day you buy them and might even protect you from issues your manufacturer's warranty doesn’t cover. But is peace of mind actually a good investment? Read on to ensure your bases are covered against defective products and unnecessary expenses.

Types of Walmart Protection Plans

Walmart offers two types of Protection Plans: Standard Plans and Accident Plans. Here’s a look at what you can expect from each one:

Standard Plans

These are designed for most products — toys, appliances, TVs, power tools, garden equipment, and more. They cover the following:

• Mechanical and electrical failures
• Power surges or power supply failure
• Breakdowns during normal use

Accident Plans

Accident Plans are intended for select items such as portable electronics (phones, tablets, laptops). These plans include all the benefits of the Standard Plans as well as protection from:

• Cracked screens and drops
• Spills and liquid damage

How Much Do Walmart Protection Plans Cost?

Like most stuff at Walmart, Protection Plans are pretty cheap. The price you pay will depend on your specific product, its value, and the length of coverage you choose — but here are some examples of Standard Plans:

• 2-Year Protection Plan For Hardware $40-$49.99: $4
• 2-Year Protection Plan For Electronics $60-$79.99: $6
• 2-Year Protection Plan For Electronics $100-$199.99: $16
• 2-Year Toys Protection Plan $125- $149.99: $16
• 3-Year Protection Plan For Toys $30-$39.99: $5
• 3-Year Protection Plan For TVs $250-$299.99: $26
• 3-Year Protection Plan For Electronics $200-$399.99: $34
• 3-Year Protection Plan For Electronics $400-$4999.99: $58
• 4-Year Protection Plan For TVs $400-$599.99: $69

Here are examples of Accident Plans:

• 2-Year Accident Protection Plan For Electronics $40-$49.99: $4
• 2-Year Accident Protection Plan For Electronics $80-$99.99: $8
• 2-Year Accident Protection Plan For Laptops & Tablets $200-$299.99: $45
• 3-Year Accident Protection Plan For Electronics $200-$399.99: $34

Overall, you can expect to pay approximately 10% to 20% of an item’s purchase price (give or take) for added coverage.

Is the Walmart Protection Plan a Smart Choice?

That depends on your situation — and your tolerance for risk. If you're accident-prone (or have a toddler with a flair for destruction), spending a little extra for peace of mind might be worth it.

On the flip side, if a $10 phone charger fails, replacing it yourself is likely easier than dealing with a warranty claim.

These plans are priced to turn a profit, so statistically, you're unlikely to need them. But statistics won’t comfort you when your brand-new iPad becomes a makeshift Frisbee, thanks to the aforementioned toddler.

How to Buy a Walmart Protection Plan

To jump on the Walmart Protection Plan bandwagon, select your preferred plan when you check out at Walmart.com, as long as your item offers it. You also have within 30 days of your online order to buy the plan in store; all you need is your digital receipt, which you should absolutely keep.

How to File a Claim

In a perfect world, your item will last forever and you’ll never have any issues. But if things don’t go as planned and you do have to put your plan to use, follow these steps to file a claim:

1. Make sure you have your receipt and covered item handy.
2. Visit WalmartProtection.com and click on “File a Claim."
3. Type in your email address to create an account
4. Create a password.
5. Click on your plan to complete the claim form. (If you don’t see one, you’ll need to register your plan.)
6. Wait for an instant approval or details of next steps.
7. Allow SquareTrade to repair your item or send you a replacement or reimbursement.

When It Makes Sense to Buy a Walmart Protection Plan

Phones, tablets, laptops, and gaming consoles are frequently dropped and spilled on, and repairs can be costly. If the item is essential to your daily life — like a laptop for work or a refrigerator for your family — fast repair or reimbursement might be well worth the upfront investment.

Additionally, if the original warranty only covers defects, not accidents or power surges, Walmart’s plan can extend peace of mind.

When a Walmart Protection Plan Is Not Worth It

For small kitchen gadgets or basic toys, a policy is probably overkill. (Even for bigger items, ask yourself: Am I really going to drop this microwave off the countertop in the next two years?)

Also, check if your credit card already extends manufacturer warranties — or otherwise provides purchase protection for free — so you’re “insured" against double-paying for coverage.