5 Benefits of Extended Warranties
When you purchase appliances, vehicles and electronics, a manufacturer’s warranty is often included. Depending on the item, it could be a 30-year warranty or longer. If your item makes it through the warranty unscathed, that is great because you do not have to go through the claims process. Unfortunately, not everyone is so lucky.
Here are five benefits that extended warranties offer.
1. Peace of Mind
The reason why you purchase an insurance policy is for the peace of mind. An extended warranty works in a similar manner as insurance. Most consumers who purchase this particular warranty do so because they bought an expensive appliance or electronic device. If it fails to operate within a specific time period, you are protected against the financial loss. At Hopkins Air Conditioning, Inc., we’ve noticed that extended warranties are very helpful when it comes to owning HVAC equipment.
An extended warranty allows you to put in a claim for repairs. As long as the reason falls under the parameters of the warranty, you are covered. When you purchase the coverage, just be sure you understand what is covered and what is not.
If your appliance stops working completely and the reason why it stopped working is covered, you are entitled to a complete replacement.
4. Food Spoilage Protection
Those who purchase coverage for refrigerators may be covered for loss due to food spoilage. This is great protection for professionals in the food industry like restaurant owners.
5. Savings Over Time
Whenever you acquire an insurance policy or extended warranty, you are protecting yourself against financial loss. Ideally, when you acquire an extended warranty, the item is going to live out its full life. If something does go wrong, you are protected. This saves you money over time.