When you buy any appliance, you try to get the best one that fits within your budget. Not only that, you invest considerable time and effort in buying the one from a reputed manufacturer that is not just durable, but also efficient. You do not want the hassles of frequent repairs and settle for nothing but the best. So, you thoroughly check the warranty offered by the manufacturer of such products so that your appliance is under the service coverage offered. But what if you could extend these benefits over more than what the manufacturer provides? Sound too good to be true right? Here’s where an extended warranty insurance comes into the picture.
An extended warranty plan not only provides for the repair costs, but also the necessary maintenance costs are covered by the insurance company. You can continue to enjoy the appliance worry-free knowing repairs, if required or even replacement needed is covered by the extended warranty cover. Further, this insurance policy extends the coverage of the repairs even after the manufacturer’s warranty ends. When you buy this insurance cover, it automatically makes you a quality and cost-conscious buyer who wants to make the most of their appliances with such home appliance insurance plan. For instance, when you purchase a refrigerator, the manufacturer’s warranty may end after a defined period but with an extended warranty insurance plan it can add another two or three years of coverage based on the insurance company’s terms and the appliance.
Why you should consider buying an extended warranty insurance?
Here are some reasons as to why you must consider buying a general insurance policy to extend the coverage for repairs to your home appliances:
Nominal prices:All purchase decisions you make must be based on a cost-benefit analysis, i.e. the money you spend in buying compared to the benefits it provides. Similarly, for extended warranty plans, the benefits offered in terms of savings in repair costs are far greater as compared to its price. Thus, it is best to buy an extended insurance cover that helps lower the out of pocket expenses to keep the appliance up and running till the end of its useful life.
Flexibility in coverage: Extended warranty plans are flexible based on the type of appliance or equipment they cover. For durable items like refrigerators, and air conditioners, the coverage is available for a longer duration compared to consumer durable products like laptops and mobile phones where only a limited amount of coverage can be purchased. Also, the duration of these plans varies depending on what different insurance companies have to offer.
Round the clock customer support: Any repairs required can be arranged by the insurance company for quick redressal. For that, customer support is available round the clock helping you avail quick and swift redressal of your concern.
Coverage equal to invoice value: With the help of extended warranty policy, insurance claim can be made for repairs that cost equal to the invoice value of the product. This ensures all necessary repairs are covered under the insurance policy thereby ensuring the availing extended cover for the product serves in the long run.
These are some advantages of having an extended warranty policy by your side. Now that you know the benefits, make sure to add one when buying a new appliance, the next time. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.