Extended Warranty on consumer electronics may prove to be a sensible investment in the long run

Until recently, the term extended warranty was something that mostly vehicle owners were familiar with. Now with such plans available even on consumer electronic products, it is important to not only be aware of them but also to know how to avail them. So if you are in the market for that latest microwave oven or swanky air-conditioner, here’s a quick lowdown on Extended Warranties and how they may prove useful in reducing long term ownership hassles.

What is an Extended Warranty?

Manufacturers usually offer a standard warranty on products which is basically a promise to repair or replace a product within a specified time frame in the event of any manufacturing defect. An extended warranty is a service agreement that helps to increase or extend this period of time.  Simply put, if the standard warranty offered by the manufacturer on your new air-conditioner is 1 year, you can opt to extend this to 3 years by purchasing an extended warranty for two additional years.

Extended warranties are offered by service providers other than the manufacturer and consumers are often given the option to include the additional coverage either at the time of purchase or when the standard warranty is approaching its end date.

Why only the manufacturer’s warranty is not enough?

Picture this. You have had a great run with your new washing machine for the past two years. At the start of the third year, your machine’s rotor decides to stop spinning. Unfortunately for you the company warranty card states that the period of warranty was for two years comprehensive. You have no choice now except to cough up a hefty repair bill. Not to mention the hassles of following up with the company’s authorized service centre till you get your machine fixed.

No such problems if you have an extended warranty.

Extended warranty lets you rest easy!

Here’s how:

• Firstly, you are safeguarded from any manufacturing defect for a longer period of time as compared to standard warranty.
• It helps save you money in the long run. An extended warranty at 5 to 7% of the product cost is a small price to pay for shielding you against expensive repair costs amounting to as high as 80% of the product cost, if anything should go wrong with your product. The long term benefits are too good to ignore.
• Some service providers like OnsiteGo offer special doorstep services. They ensureyour product is fixed by an authorized brand technician at your home. If the product needs to be transported to a workshop, the cost of transportation is borne by them.You can rest easy knowing that if they don’t fix your product within 14 working days, this company will arrange for a replacement. Plus, two free preventive maintenance checksduring the tenure of the extended warranty simply sweetens the whole deal and makes it one of the best extended Warranties in the market

So, is it worthwhile? You bet!

Do I have to fill out paperwork for an extended warranty?

Not necessarily. While most service providers like Tata AIG or Syskawould have you fill out forms, if you pick OnsiteGo you would be spared the trouble as the company allows a quick, zero-document approach.

How do you get an extended warranty for your appliances?

It’s easy. You could shop for an extended warranty online on Amazon.in, Flipkart, Snapdeal and onsitego.com. You can choose from one year to two-year extension plans.

So there you have it. Investing in an extended warrantyreally makes long term ownership of household electronic appliances a piece of cake!

Authored by:- Mr. Kunal Mahipal, CEO onsitego.com

(The views expressed in this article are by Kunal Mahipal. Technuter.com doesn’t own any responsibility for it.)

@Technuter.com News Service