Extended Warranty, good to know !!

Five things to consider when buying an extended warranty
You might not always find yourself at the winning end by
saying "no". Five important points to consider.

It’s the question that almost every customer
gets at the checkout counter when buying a gadget – would you, perhaps,
want to consider purchasing an extended warranty for your new toy?

More
often than not, most consumers would have but a few minutes to make a
decision. Considering that extended warranties vary among retailers, you
might not always find yourself at the winning end by saying "no" to the
offer.

Here are some of the most important points to consider
when deciding whether or not to buy an extended warranty for your new
tech purchase:

The price of the
warranty versus the price of the product

If an
extended warranty costs more than 30 per cent of what you paid for your
gadget, you might want to give it a miss.

This is especially the
case for cheaper, smaller gadgets such as phones and MP3 players. Most
will likely survive their original warranty periods, of which by then
newer models will be available.

In this case, saving whatever
you are going to pay for the extended warranty could go towards paying
for your new gadget in a couple of years

Who honours the
warranty

While the original warranty for any
tech purchase should almost always be honoured by the device’s
manufacturer, this is not necessarily the case with extended warranties.

Some extended warranties are honoured by retailers, and it is vital
that you clarify this when you decide whether or not to take up the
deal.

Points to consider include the ability of the retailer to
repair and/or replace your product should something happen to it. While
retailers might have the technical staff at hand, parts for certain
gadgets might not be as easily available and you could find yourself in a
bind.

Should you be purchasing a gadget from an independent
store, check out what are its terms and conditions for honouring an
in-house extended warranty that’s what it offers.

Unlike larger
retailers who are likely to still be in business during the lifetime of
your product, you might end up not being able to find the retailer
should they move their store or close.

The length of the
warranty

Ideally, extended warranties should
cover your gadget to the end of its product lifespan.

This means
that, combined with the original product warranty, purchasing an
extended warranty should get your gizmo or device covered for a period
of about four to five years.

For smaller devices like music or
media players, a period of about three years should suffice.

Extended
warranties are meant to cover your tech purchase for the full period of
time that the gadget is expected to last.

Anything giving you
only one to two years of total coverage is probably not a very good deal
unless it’s free, or offered at a nominal sum.

What the policy covers

Standard warranties that come with new products often cover the
device against manufacturing defects and non-accident breakdowns.

Depending
on the terms and conditions, what an extended warranty offers you might
differ.

Some extended warranties only cover service but not the
cost of parts. This might not be a good idea for expensive or big
ticket gadgets like computers and HDTVs as replacement parts, like the
CPU or LCD screen, can be very costly.

Other extended warranty
policies might not cover on-site service, which means that users might
have to bring their gadgets to a service centre themselves after the
initial warranty period runs out. If you are purchasing a bulky device,
such as a heavy duty or laser printer, this clause might be a point
worth considering.

How often you use the
gadget

It might be wise to purchase an extended
warranty for a laptop or tablet PC that you intend to carry around with
you all the time.

However, purchasing extra coverage for a new
juice blender might not exactly be a very good deal.

The
frequency in which you use a product contributes very much to its
expected lifespan, as longer hours of use generally mean more wear and
tear.

If you’re only counting on using that gizmo once a week or
so, chances are that it will last you quite a few years without any
problems.

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