In general, you should consider the following when deciding whether it makes sense to protect your product with an extended warranty:

• What is the cost of the product?

• The more expensive an item, the more expensive a repair or a replacement will be

• Can you afford to pay for repairs yourself?    

• Repairs on TVs, appliances and other electronics can be very costly

• Do you want peace of mind knowing your product is protected if something goes wrong?

• Does the product being protected have a significant amount of electronic or mechanical parts that may break down over time?

• According to Consumer Reports, a 3 year old laptop had a 36% repair rate (from 2009 Annual Questionnaire)

• Newer electronic products tend to break down more

• What is the length of the manufacturer warranty compared to its expected useful life?

• Protect your product if you expect to use an item beyond the initial warranty period

• Some products have original warranties as short as 90 days

• What is the cost of the extended warranty relative to the product being insured?

• Consumer Reports advises not to pay more than 20% of a product's purchase price when buying an extended warranty

Finally, when buying an extended warranty, make sure it has the following provisions:

• 100% parts and labor coverage

• No deductibles

• Backed by a highly rated insurance company

• If something happens to your warranty company, the insurance company will make sure you receive your promised coverage

• For large items make sure in-home servicing is provided

If you have any questions about whether a warranty from Xwarranties would make sense for you, please do not hesitate to contact us.