Life continues to remind us to expect the unexpected. You can’t control the often-chaotic conditions that surround you (and that sometimes lead to accidental damage), but you can opt for extended warranty coverage on your stuff to prevent future expenses and pay yourself forward.
While manufacturer warranties offer some benefits, they are often limited, restrictive, and only provide short-term coverage. Extended warranties provide longer-term protection, go beyond the basic manufacturer defects, and truly help you avoid expensive repairs or replacements down the road. Extended warranty insurance covers unanticipated accidental damage and issues arising from long-term product use.
Don’t let your hard-earned money go to waste. Subscribe to Mulberry Unlimited to protect your online purchases and significantly extend their lifespan. For just $9.99 a month, you can get unlimited claims and coverage for all your online purchases under the same product protection plan, providing the ultimate peace of mind. Check out this article to learn more about which products you may want to protect with extended warranty insurance.
A round-up of extended warranty companies
You probably aren’t an expert on warranties, and it might seem overwhelming to try and compare the wide variety of extended warranty coverage options available when making an online purchase. That's why we're here, to help you navigate confusing extended warranties and understand what an extended warranty covers. We’ll show you how to evaluate the warranty solutions available when you're shopping with major retailers.
This chart can help you compare and contrast some of the extended warranty companies you'll see offers from as you shop:
|
Extended warranty company |
What they offer |
Limitations |
Term length |
Claims and fees |
|
- Phone insurance - "Everything Protected" plan which covers a range of products, including electronics, sports and recreational gear, clothing and accessories, handheld/portable power tools, audio and music equipment, school supplies, and non-motorized personal transportation devices. |
- The phone-only plan covers just one phone - Only covers loss if you opt for a yearly plan |
- Monthly and yearly plans are available |
- $6-$12 a month for the phone-only plan, or $5-$11 a month if paid annually - $15 a month for the "Everything Protected" plan for adults, and $12 a month for students - $2,000 claim limit per incident |
|
|
Guardian |
- Protection plans for indoor and outdoor furniture |
- Not all items are eligible for coverage - Standard plans do not cover breakage, odors, some staining, and normal wear and tear |
- Plans are usually 5 years |
- Claim process requires extensive documentation - Rates start at $99 |
|
- Electronics, phone, appliance, and furniture warranties |
- Exclusions vary depending on the product and type of plan you choose - Not all plans cover accidental damage |
- 2, 3, 4, or 5-year plans |
- Some products, like laptops and iPads, have a $39-$75 deductible - Monthly plans available for some products |
|
|
- Electronics, phone, and home appliance warranties - Can extend the manufacturer’s warranty - Accidental damage, loss, theft, and defect coverage available for some products |
- Long list of limitations that vary based on the retailer you purchase from and the plan length - Sample terms and exclusions can be viewed for each retailer |
- Plan length varies based on product |
- Must provide a receipt to start the claims process - Plans start at $29.99/month but are typically much higher - Service fees are required for many repairs |
|
|
Guardsman |
- Indoor and outdoor furniture, power tools, jewelry, appliances, instrument, and other coverage |
- Many exclusions like stains on certain materials, wear-and-tear, and misuse/improper maintenance |
- Plans up to 5 years, but vary based on product |
- Online claims submission process, but rates can be high |
|
- Coverage for nearly everything you buy online - Unlimited claims and unlimited coverage - Up to $2,500 in damages annually - Free browser extension that offers affordable protection plans and extended warranties |
- Comprehensive coverage from product defects to accident protection and more - Accidental damage protection available for most products |
- Monthly and annual plan options for as long as you'd like |
- Plan is just $9.99 a month - No deductibles and no fees - Lowest-price guarantee - 24/7 online customer support that’s attentive and transparent |
The importance of "shopping around"
When shopping for a car, a house, or anything with a high price tag that you hope to have for a long time, would you quickly buy the first one you see? Probably not. It just makes sense to do your research, compare your choices, and make sure that the product you choose is as well suited to your needs as possible, as it’ll be something you hope to enjoy for years to come.
Checking out a range of competing options dramatically increases the potential of getting optimal value, years of use, and satisfaction from expensive items.
Approaching a purchasing decision regarding extended warranty coverage should be no different. Considering your priorities for product protection, assessing the value offered by the warranty solution, reviewing the reputation of the extended warranty company, and evaluating the cost conditions in relation to your specific needs is the best way to ensure that your product will hold its value and remain high-quality.
Find the most comprehensive coverage for the lowest price
Some extended warranty companies offer great coverage, but they'll charge you really high rates; other companies offer seemingly good deals, but you'll sacrifice the actual extended warranty coverage. Extended warranties are not created equal, which is why it's important to find the one warranty solution with the best balance for your needs.
Here are a few things to consider when looking for high-value extended warranty coverage that doesn’t wound your wallet:
- Length of contract term: Are you willing to sign up for a longer-term plan to pay lower rates?
- Total warranty plan cost, including the premium, deductibles, and fees: Make sure you factor in not only the upfront cost of the plan, but the deductibles and fees you'll pay when you need to file a claim.
- Conditions and limitations: Will the damage be covered for the specific product you purchased, or is there fine print that excludes some major incidents and damages?
- Claims process: How easy will it be to file a claim and follow up on the status until your claim is resolved?
- Customer service: Is there an accessible, live customer service team that will help you through the process and answer your questions?
- Online tools and support: Does the extended warranty company offer online tools that give you alerts while you shop, and offer instant price comparisons on warranty coverage options?
- Product cost vs warranty cost: A good rule of thumb is not to spend more than 30% of the product cost on an extended warranty.
You can trust Mulberry Unlimited for robust, innovative, and affordable product protection
As the insurance industry continues to evolve, forward-thinking plans that surpass value standards and offer more protection for consumers are emerging. Mulberry Unlimited’s comprehensive coverage with a low-price guarantee falls into this category.
We are a people-first brand committed to saving you money rather than marking up our services. There is no middle-man with Mulberry. We're able to pass the savings directly onto you, with affordable product protection for almost anything you can buy online and long-term coverage for a fraction of the cost you’d pay through any other extended warranty company. If you find a better price, we will match it - guaranteed.
We’re dedicated to educating consumers on their best extended warranty options, creating a claims experience that is simple and transparent, and a cost-effective and fair product coverage that actually delivers. We also curate savings on other financial products and services not available through traditional extended warranty companies, like low-cost home, pet, and car insurance, cash-back on purchases, rewards credit cards and high-yield savings accounts. Subscribe to Mulberry Unlimited and see how we can help you save.
