Appliances Extended Warranty: Is it Worth It?

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Buying a new device comes with a mix of emotions. There’s the excitement of owning a brand new device, the eagerness to use it, and the fear that the device won’t last long. This is where an extended warranty for devices comes into play.

But what is an extended warranty?

Usually it is a service contract that covers the cost of replacing or repairing a device in the event of a failure. You can purchase extended warranties for various products. However, most people buy extended warranties for large appliances such as stoves, refrigerators, washing machines, and dishwashers.

Different terms apply to extended warranties. Some warranties can only last for one year, while others last for five or ten years. Also, some extended warranties only cover repair costs, while others offer a full refund. However, the question arises as to which specific repairs the extended warranty covers and whether a customer will have to pay additional fees such as shipping costs or deductibles, or whether they will use this coverage themselves.

So what exactly do the extended guarantees cover?

In general, the extended warranty for equipment covers damage caused by general wear and tear on the electrical and mechanical components of your equipment. However, it is important to note that an extended warranty covers certain devices. That means you have to purchase a separate warranty for every device you have in your household.

Home warranties, on the other hand, cover different types of equipment in your home with a single policy. While you might need several extended warranties to cover all of your equipment, a household warranty covers all of the equipment in your home, including your pool, sewage treatment plant, and well pump.

Now that you know what an Extended Equipment Warranty is, why get one for your valuable equipment?

Helps save money

Most device failures are an emergency. That means you may not have the money to fix the device right away if it malfunctions. However, an extended warranty for your devices will help reduce the stress and expense associated with repairing a damaged device. Your damaged device will be repaired immediately and at no additional cost, apart from the monthly payments you make for the warranty extension.

Gives you rest

An extended warranty for your devices works like insurance. And just like insurance, an extended device warranty gives you peace of mind. Most of the people who buy extended warranties have expensive equipment.

In this way, the owners are protected from financial losses in the event of a device failure. The experts at Tampa Equipment Repair, Hartman say an extended warranty on equipment comes in handy when it comes to expensive equipment like HVAC and refrigerators.

There are no exceptions

Although most devices come with warranties, there always are Exceptions to these guarantees. However, this is not the case with extended warranties for devices. Such guarantees protect you from recurring repair bills if your device keeps failing. This means that even if your device fails repeatedly within the warranty period, your provider will cover all of these claims and even offer you a refund for the purchase of a new device.

Access to a professional repair

Regardless of whether you purchase your extended warranty from a third-party provider or from the manufacturer, you can be sure that a qualified technician will be available in the event of a repair. Your warranty provider has access to professional technicians who will contact you to repair your device if it is not working.

Important things to note

A warranty extension for devices is possible at an additional cost. Therefore, it is important to understand what your warranty is getting before you buy it. Before buying an Extended Warranty, let’s make a few considerations:

  • Is it expected that the device will need to be repaired? Certain devices rarely break if kept in good condition. Therefore, you need to check whether there is a significant risk that justifies purchasing an extended warranty for your device.
  • What does the guarantee cover? Most people are surprised to find that an extended warranty does not cover certain parts of their equipment. Some companies tend to use clauses that remove liability in case the user changes the device or does not perform regular maintenance. It is therefore important to take the time to read the warranty terms before signing the contract. This can save you a lot of stress in the future.
  • How do you make demands? Depending on the terms of your warranty, the store, a third party vendor, or the manufacturer can perform any necessary repairs. It is therefore important to find out about these details in advance.
  • The reliability of the service company – an extended warranty is as good as the provider. Most customers tend to purchase extended warranties from retailers. However, some companies do not recognize such guarantees. So, if you don’t know the company’s reputation or are unsure about how to provide your credit card details over the phone, just avoid this company.

Bottom line

While it may cost you extra money, an extended device warranty can prove valuable in the future, especially if you have a device that keeps failing. However, we cannot emphasize enough the importance of doing your research before purchasing your extended warranty. This can help you avoid falling into a trap and losing your money.