You must know what extended warranty is, if you already have one for your car for instance having your Ford extended warranty plans. When it comes to purchasing an electronics product, you are probably going to be urged by the salesperson to buy an extended warranty with it. Like if you have just spent $400 you are required to pay another $75 for an extended warranty. Let’s find out if consumers should think before investing in warranty for electronics?
There are some credit card companies that offer full protection for your purchases using their credit card. However, you need to be sure about what you get and what you must do to redeem the warranty. You may also check with your Homeowner’s insurance to see if they cover any of your new purchases too. If you consider different options, it might save you unnecessary expense.
Some manufacturers offer longer, more comprehensive warranties than others, so it’s good to check out the terms first. You might find the worth of buying a certain item in preference to another beneficial, if the first one offers, say a 2-year warranty instead of a 12-month one, even if the first product costs a little more.
If you opt for the extended warranty, don`t just take the one on offer at the store as different retailers offer different plans. A lot of companies take on the risk of extended warranties, and some cost less than others, for the same thing. You are not compelled to make a decision at the time of purchase as most extended warranties can be purchased any time before the manufacturer’s coverage ends. This gives you a chance to try the item and determine how well it works. Many manufacturers will themselves contact you about extending the coverage before it expires.
You also need to find the answer of some questions like, will you have to send the product off for repair or a repairman will visit your home for the same? Taking the item to a repair center means you also need to find out if there is an authorized center in your area?
Remember that you have to have your extended warranty starting after your manufacturer`s free warranty finishes and not before that or you will be wasting your money.