Perhaps you have experienced it yourself: you bought a new television and you are offered an extra purchased extended warranty. However tempting it may be, always check if it is worth the extra investment. ECC Belgium helps you ask the right questions:
- How long does the extended warranty last?
- What is exactly covered by the extended warranty?
- What can you claim?
- What about the costs of the extended warranty?
Check the period of extended warranty and find out when it commences. Does it commence on the purchase date, after your two-year legal guarantee has expired, or when the manufacturer’s warranty ends?
The answers to these questions are crucial. Suppose your extended warranty lasts five years and commences from the date of purchase. The first two years coincide with the legal guarantee. So actually, the extension is only three years.
Does the extended warranty provide full cover for your product or does it exclude certain components, such as batteries, the motor or other essential parts of your device? These are essential questions.
Also check if the extended warranty excludes certain problems, and whether this list of problems is not too long.
Always find out what solutions the extended warranty exactly offers. Is it limited to repairs only? Or does it also replace a faulty product or even pay a refund? Check the accompanying terms and conditions. And think of your comfort when you examine the extended warranty: are you entitled to a replacement when your product is being repaired or exchanged?
Ascertain the financial impact of an extended guarantee by asking yourself the following question: if I were to invoke my extended warranty, will it really include all costs? From repair or replacement to the hours of work and travel of the mechanics?
Also check whether in the event of a problem there are any exemptions to your extended warranty, and whether they are reasonable.