Extended Warranties: From all perspectives

   Extended warranties for consumer electronics is almost offered by every other department store in North America. It is sort of an insurance policy in the highly unpredictable electronics market that is now sourced from all over the world. Whether it’s a tablet malfunction, battery replacements or irresponsive touch screens; extended warranties provide consumers a relief from unexpected breakdown.

    Many consumer electronics are offered with an extra three year warranty at several department stores. One may consider it a bargain since anything could happen within those 3 years. But at the same time, electronics devices are often replaced with newer models with in few weeks or months. This means if one bought a new tablet with a three year warranty, he could easily get stuck with that tablet for three years unless he considers selling it with the warranty for a much lower price. Furthermore, the damage protection plan offered at several department stores covers a tablet from spills or drops for two years but at half the original price of the tablet. This additional coverage price is not included in the sale price of used electronics which means it’s essentially a loss. Next, there is an Assurant Advanced Protection Pack offered at many retail stores in North America. Though this may sound like a bargain considering it covers accidents and loss, it could be a pricey deal for many customers. Some plans costs as much as “$13 a month or $156 a year” and also deduct $100 for every incident of theft or accidental damage. “Overlapping Coverage” is another issue with many consumer electronics. Though some stores offer three years of warranties on products like laptops in a bundle called “Three-year Good Service Package”, the warranty lasts only two years because the first year is usually free and covered with the purchase of device itself. Also, many gold and platinum Master cards extend warranties of all purchases for up to one year. This could be an alternative to buying a drop, spill and broken screen protection plan offered by many retailers. After all, phone and tablet screens can be easily purchased online with instructions for replacements. Overlooking the “fine print” of an electronics protection plan may also cause loss during a purchase. The “Apple Care Protection plan” for I phone and I pad may give consumers coverage for up to two years as well as “phone support for up to 90 days” – A Bargain worth considering! But at the same time, the coverage plan does not cover damage caused by accidents or lost and stolen devices.  Thus, consumer protection plans come with advantages and loopholes.

     In conclusion, modern day electronics not only offer network, Wi-Fi and entertainment but also replace some traditional products such as piano and rat traps to some extent via piano/music player apps and rat repellent frequencies. Hence, knowledge of products, their warranties as well as extensive research can save consumers hard earn savings in the long run.

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