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Extended Warranties for Electronics – Are they worth it

One of the primary concerns of consumers when buying an electronics product or device is the warranty offered by the company. Many countries have certain laws on the warranty of electronic devices due to the fact that these products are often highly indispensable to daily life. Despite the assurance that companies give regarding the standards of their products, a warranty usually gives more assurance to customers when purchasing a particular electronics product. In most cases, companies offer a one-year warranty for their products, while other companies may offer a limited warranty for the same amount of time. A limited warranty usually only covers parts or labor on a repair, but not both. Nowadays, companies are also offering extended warranties for their products.

The basic principle behind extended warranties is that it stretches out the usual one year warranty to two, three or even as much as five years. Of course, you usually have to pay a premium for a longer warranty, sometimes hundreds of dollars, depending on the product. So, are extended warranties worth it? The answer here primarily relies on what kind of electronics you are dealing with. If youre going to buy a very expensive device that is intended to be used on a daily basis and for a long period of time like LCD televisions, refrigerators or air conditioning units, then an extended warranty would be a good deal. On the other hand, if you intend to buy a laptop, which depreciates fast and becomes obsolete quickly, then a one-year or two-year warranty will usually suffice. However, the more you use a product, and the longer term you are going to use a product, the likelihood increases whether an extended warranty is a good value.

Aside from the type of electronics that you intend to buy, the warranty also relies on you as a user. If you know yourself as someone who is very careful in handling electronics, then you might be content with the bundled one-year warranty. However, if you tend to be harsh on your products, like putting them in your pocket or dropping them often, then you should opt to have an extended warranty.

Another useful tip for deciding whether a warranty is worth it for you, is to read up on reviews of the product first. Many times, the reviewers will talk about the warranty and what the best term is for the product. Consumer Reports actually offers reliability ratings for many products, and these can be of great help. If a product is listed as very reliable, then you may not need an extended warranty at all.