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What to consider while buying Extended Warranties?

Extended warranties have a reputation of being costly, and consumers often second-guess before buying them.

Opting for an extended warranty is like adding a stretched security for your device(s) or appliances. It covers generic malfunctions or the product conks out past primary manufacturer(s) warranty period. Some warranties offer additional benefits like accidental damage coverage(s).

Imagine your favourite MP3 player accidently slips from your grip while you’re enjoying your most-liked playlist, but as it covered under a special warranty the item will be fixed or replaced.

For premium products, it’s wise to pay a small percentage of the total purchase price for an extended warranty and safeguard it for a prolonged time.

In addition to prospective savings from claiming under an extended plan, reduced stress from knowing you are protected has some benefits. Some refurbished items may be bundled with warranties that are for limited periods (perhaps as little as 90 days), and thus it fits to shell out pay for an extended warranty to barter an additional two or three years.

Points to evaluate when purchasing or considering to purchase an extended warranty:

  • Analyse your finances/availability of funds for overhead expenses
  • Cost of the item
  • The period of the manufacturer warranty
  • The expected usage of the product
  • Credibility of the insurer, the one offering extended warranty coverage
  • Network of service centres
  • Repair Costs
  • Fragility or the likelihood of the item to break
  • How crucial is a warranty to you?

Extended warranties offered by manufacturers, retailers, and online providers can be expensive. It’s often advised to look for multiple options before deciding upon it.

Or in the age of options you may also get warranties tailored as per your need.

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