Looking for a way to protect your latest purchase? While many retailers offer product warranties on certain items, determining whether or not a product warranty is worth it for you can be difficult. Each product warranty has different terms, conditions, and clauses, so it’s important to know what to look for to ensure that you’re getting the best protection possible for your products.
If you're looking for product protection that offers more than a traditional plan, subscribe to Mulberry Unlimited. You'll get coverage for all your online purchases under the same product protection plan, complete with unlimited claims and access to 24/7 customer support. Wondering how to evaluate a product warranty? Here’s everything you need to know:
What is a product warranty?
First, it’s important to understand what a product warranty is. Many retailers offer product warranties, or standard manufacturer’s warranties, for items like appliances, furniture, and cars. These warranties typically guarantee protection against things like internal failures, hardware defects, and issues that occur in manufacturing. Many manufacturers use product warranties as a way to build trust with their customers by promising to stand behind their products.
Besides manufacturer’s warranties, some manufacturers also offer extended warranties on their products. Extended warranties can prolong not only the time the product is covered, but the extent of the coverage as well.
Beyond these types of warranties, there are lifetime warranties, implied warranties, and express warranties. Understanding the type of warranty you have and what it covers is important for making sure you get the coverage you need.
How to evaluate a product warranty
Wondering how to assess how useful your warranty is? Here are some things to assess when deciding whether or not a product warranty is worth it for you:
Review the warranty ahead of time
First, it’s important to understand the terms of the warranty before you make your purchase. Many retailers benefit from consumers who don’t understand the terms and conditions, so make sure you do your research and understand exactly what protection you’re getting. If you want to access the warranty terms and conditions before purchasing, most brands’ warranties are available online.
Study the fine print
Although many warranties come with an extensive list of terms and conditions, don’t toss it in the garbage–read it thoroughly. Many product warranties contain hidden terms, clauses, and conditions that you need to know in order to get the most out of your warranty.
For example, some product warranties require you to stay up to date on certain maintenance or other actions in order for your warranty not to be void. Others require you to register your product online to activate the warranty or keep your proof of purchase.
Understand what’s covered
Depending on the type of product warranty you have, the coverage varies. Make sure you understand exactly what's covered under the warranty’s terms. For example, accidental damage is often excluded from product warranties, and this is important to know so you can look into other types of product protection. The last thing you want is to be left with no coverage in the event of an accident.
Look for the service provider
It’s also important to understand who you’ll be working with when you need to make a claim. Some service providers require you to pay expensive shipping and repair costs, so it’s important to make sure you understand what charges you’ll face if you need to file a claim.
Final thoughts
Although product warranties offer some protection, they rarely provide the coverage you need to ensure peace of mind. Luckily, product protection plans can help you bridge the gap. With a product protection plan, you can get excellent coverage for the lowest price on the market–guaranteed.
Although you might be more familiar with protecting big ticket items such as cars, furniture, and appliances, when you subscribe to Mulberry Unlimited, you can protect unlimited purchases with no hidden fees or deductibles, all for only $9.99 per month. It's comprehensive coverage for all your products.
