What Is An Extended Warranty?

Being in the digital era of smartphones, laptops, desktops, iPads, smart home appliances, and even smart home systems, consumers always ask for the maximum life of a product. Because of that, the extended warranties for electronics industry have become quite a popular concept these days. People always wonder about the same thing: “Should I spend money on an extended warranty for my stuff?”

That must be your dilemma, too.

A few months ago, my colleague Peter purchased a brand new iPhone followed by a purchase of an extended warranty. Within two months, an accident killed the phone totally and because of a smartphone protection, he was spared from another phone purchase. On the other side, my first cousin’s iPhone is serving him well over one year without an extended warranty.

So, what is an extended warranty? Should you get one?

Before you can understand the worth of the warranty, you need to have an answer to the following questions first:

• What does the manufacturer warranty cover?
• What are its limitations?
• Does it have extra offers?

Manufacturer Warranties

As per the Consumer Act, a consumer is entitled to receive a product with good quality and reasonable lifespan. If a manufacturer fails to deliver that, a consumer can file a case under the consumer protection law.

On electronic goods, most leading manufacturers provide a certain period warranty. During this warranty period, if a product becomes dysfunctional, the repair or replacement will be free. Moreover, there are warranties that enable the consumers to return the goods up to 4 to 5 years without providing a reason.

With that, make sure to check out your product’s manufacturer warranty to determine the need for an extended warranty.

The Limitations of A Manufacturer Warranty

There are so many things you have to consider when it comes to warranties. Below are some of the most important ones:

• Have you checked what kind of protection is given to you?
• Does a warranty provide protection against common catastrophes?
• Do you know if any warranty registration is required?
• What’s the actual expiry date of the warranty?

Now, let’s discuss the limitations of your warranty.

Cracked Screens

Cracked screens aren’t covered by manufacturers. In severe cases where there’s no chance for repair, you’ll need to buy a new one.

Water Damage

Water can damage your electronic equipment. In severe cases, it can even break your devices permanently. This often happens with cell phones when we forget to take them out of our pockets before putting them inside the washing machine.

Disasters

Natural catastrophes like hurricanes, tornadoes, earthquakes, and fire can cause damages to your devices and they are typically excluded from the manufacturer’s warranty provision.

Theft

Having your laptop stolen is hard but knowing that your stolen laptop won’t be covered by its warranty is a lot harder. Usually, a smartphone theft is experienced by one out of 4 people.

What Is An Extended Warranty?

In most cases, a manufacturer warranty can be enough to secure you and your purchase. However, if you have an extensive list of concerns about your gadget or appliances, an extended warranty might be necessary.

Let’s have an in-depth knowledge of its coverage.

• An extended warranty comes into the picture when your manufacturer warranty expires.
• It provides coverage for accidental catastrophes, such as cracks, drops, submersion or spills.
• Your extended warranty provider can help you find a good repairman or workshop if you are too busy to search. Once you register your claim, they’ll process everything for you.
• They can arrange a home service for bigger appliances like washing machines or refrigerators whenever it’s convenient for you.
• If you need to send your gadget or appliance to a workshop for repair, the company can handle everything on your behalf. You just need to hand over the goods to them and they’ll take care of the rest.
• In case of electronic product replacements, your extended warranty provider can issue a new product, provide a full refund or give you a same-worth gift card.
• For appliances like refrigerators and freezers, an extended warranty provides protection against food spoilage, too.

For some products, it’s better to invest in an extended warranty than pay frequent repair bills.

Summary

Extended warranty in the electronic world is certainly a good concept but you need to really think about whether to get it or not. Sometimes, people are so in love with their gadgets and appliances that they forget to check their manufacturer warranties. They end up purchasing an extended warranty without realizing that they have an existing protection.

So, before jumping into third-party warranties, assessment of manufacturing warranties is a must. Also, you have to remember that manufacturer warranties don’t cover water damage, theft, damage due to accidents and natural disasters or cracked screens.

If those are your concerns, then extended warranties can cover you. Right from the repair and replacement to refund, extended warranty companies can have your back. That is why such warranty, particularly for smartphones, is a trending concept these days.

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