Advice for Consumers
What’s the value of an extended service contract?
The next time you find yourself wondering if extended service contracts are truly valuable for your product purchases, consider the following:
- Do I want the choice of protecting my purchase beyond the manufacturer’s warranty?
- Do I want my product repaired quickly, and reduce the inconvenience of product downtime?
- What is the cost of a typical repair to this product, versus the cost of the contract, and could I afford to pay the repair cost out-of-pocket?
- If the product can’t be repaired, am I prepared to replace it?
- Where would I go for reliable repairs?
- How long can I afford to be without the use of the product?
- How long do I plan to use the product?
Extended service contracts can add value and increased product enjoyment when you understand what they offer. It’s important that you carefully review the terms and conditions of an extended service contract to make an informed and savvy decision when purchasing one. For instance:
- Does the contract provide toll-free telephone and/or online access to technical support?
- What is covered?
- When do the benefits begin?
- Who pays for shipping and handling if a product must be returned?
- Does the contract include a “no lemon” policy? Will products that are not repairable be replaced?
- If this is a gift, is the contract transferable?
- Does the contract provide in-home service?
- Does the contract include accidental damage coverage?
There is no “one-size-fits-all” service contract. Terms and benefits vary by product and retailer. When you decide to buy a service contract, makes sure that it works for you. At Assurant Solutions, we deliver peace-of-mind extended protection programs that speak to your needs.