Understanding the fine print: What to look for in a product protection plan

Are you looking for product protection for a purchase you recently made? Are you in the market to buy a significant item, but find yourself worried about the risk of damage or loss after you spend your savings? In either of these cases, you will need to find the best possible product protection package to suit your needs, but this search can sometimes feel challenging, with lots of fine print and dead ends.

Thankfully, there are plenty of product protection plans out there for consumers to choose from. With Mulberry Unlimited, for example, you can get coverage for all your online purchases under the same product protection plan, for just $9.99 a month. That means unlimited coverage and claims, without any deductibles or hidden fees, for that low monthly price. Here’s a guide to product protection, so you know what to look for.

What should your protection plan include?

When you are looking at product protection plans for your purchases, there is often fine print involved, which obscure a customer’s understanding of the terms and conditions of the protection. One way to check that you have high-quality care is to assess whether it includes these terms and features:

• Accidental damage. Manufacturer warranties typically only cover damage or mishaps that happen as a result of manufacturing flaws. This means that problems you’ll encounter from daily life or use will not be covered, which can set you back hundreds or thousands of dollars when having to replace the full item. Choose options that cover accidental damage, including spills and stains on items like furniture, or cracks on screens for your phone, laptop, and tablet.
• Simple claims process. It's no secret that many warranty providers make it impossible for customers to actually claim their benefits by creating a process or system that is overly complex and opaque, so that customers don’t even know how to begin filing a claim. These added layers of complexity often mean that customers aren’t clear on the steps required in order to be eligible for protection. Make sure you choose a provider with a clear and straightforward process, where you know you’ll be able to actually get the coverage you’ve paid for.
• Affordability. Do your market research when it comes to the price of your protection, as companies will charge fees that far surpass their value.

Overall, look for clarity. Understanding the fees, processes, and terms means you are setting yourself up to manage risks appropriately.

What are some examples of protection plans?

Here are a couple examples of protection plans offered by major companies.

Walmart

The Walmart protection plan makes it fairly straightforward and simple to file your claim, with an online database for you to submit your info to begin the process. They offer two plan types, which generally cover the following scenarios:

• Standard plans. Mechanical or electrical failures, power supply issues, and breakdowns during standard use.
• Accident plans. Drops and cracks, spills and damage from liquids, and everything covered by standard plans.

These two plans have slight variations depending on the item type, whether it’s a laptop, piece of outdoor equipment, or appliance, but Walmart makes it user friendly to understand exactly what’s covered.

Allstate

Insurance provider Allstate runs its product protection through SquareTrade protection plans. Similar to Walmart, they offer standard or accident plans which cover all mechanical failures, plus screen cracks or liquid damage with accident plans only.

When shopping on SquareTrade, you will have to select your specific item and model number to see pricing options, but they typically provide two- or three-year plans with the option to have a deductible. If you need help selecting the best plan, you can work with a representative by calling the Allstate protection plan phone number.

What you get with Mulberry

Mulberry Unlimited covers accidental damage, makes it super easy to file your claims, and even allows you to earn rewards and cash back when you shop. Our team is available around the clock to offer support, and we even cover stains, spills, cracks, and drops when you buy our coverage for your electronics, furniture, and more.

Subscribe to Mulberry Unlimited to get coverage for all your online purchases under the same product protection plan.