Should You Buy an Extended Warranty or Not?

Protecting your investment is always top of mind, no matter how affordable or costly your purchase was.

From televisions to cars, extended warranties offer you the peace of mind for a low cost, either up front or built into your monthly payment. These extended warranties can prove to be lifesavers or costly “investments” depending on how and what they are used for.

For example, an expensive extended warranty that covers almost everything is probably only a good investment if you plan to keep the item for an extended period of time.

Otherwise, any repairs made to the item in the short term may not amount to the full cost of the warranty. Additionally, some customers may forget they have a warranty on an item and then still pay out of pocket even when they don’t have to.

Another vital thing to consider when it comes to extended warranty coverage is the amount and breadth of coverage that an extended warranty will provide.

If there are many exceptions to a policy or a few places where the policy is valid, then no matter the “deal” you’re getting on this warranty, it may not be worth the time or trouble, as it is essentially worthless.

Deciding on whether to buy an extended warranty is an individual decision with a few important factors involved. Reach out to us today, and we can help you evaluate the risks, needs, and potential benefits of an extended warranty if you are considering one.