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Seeing as the purpose of buying an extended warranty is to get an appliance fixed or replaced years in the future, when dollars are worth less due to inflation, you probably wind up losing money ...
An extended warranty, sometimes called a service agreement, a service contract, or a maintenance agreement, is a prolonged warranty offered to consumers in addition to the standard warranty on new items. The extended warranty may be offered by the warranty administrator, the retailer or the manufacturer. Extended warranties cost extra and for a ...
An extended appliance warranty, meanwhile, can cost anywhere from $20 to $500 a year, according to Forbes. ... “A warranty is your safeguard against the chill of unexpected costs and the risk of ...
On one hand, if you're shelling out a lot of money for a product or service, it's reassuring to know that you'll be protected for a longer period of time with the right warranty or protection plan ...
In 2006, SquareTrade began offering consumer protection plans for portable devices, appliances, and other electronics, both online and through large retailers. That same year, PC Magazine ranked it number 93 on its list of the "Best 100 Web Sites of the Year."
Whether an extended service plan is worth the extra cost depends on the item and the perceived value by the consumer. Basic service plans on desktop computers, for example, typically come close to the actual average repair cost of a system, with the retailer using the service plan as a way to keep the customer from going to a competing service center.
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