The arguments for and against taking out extended warranties have been a major talking point for anyone who buys a new piece of technology. Although manufacturers take a great deal of time and care in producing the most robust and capable technology possible, things can and do go wrong. So if your smart phone suddenly stops being smart or your laptop refuses to boot up, is an extended warranty worth the money?
The myths about extended warranties
The main accusation levelled at extended warranties is that they are the shop's way of making more money out of their customers. According to consumeraffairs.com, industry sources put the profit margin on consumer electronics extended warranties at between 40 and 80%. While that may be true in some circumstances, manufacturers extended warranties are often much cheaper and more economically viable than a shop warranty. A manufacturer's extended warranty is specifically designed to cover your particular item and while yes, it may cost you a little more initially, it will give you peace of mind that if your tech fails once the original warranty has run out, you are still covered.
That brings us neatly onto the second most popular myth – that manufacturers build in time bombs' into their goods designed to make them fail a week after the original warranty has run out. Therefore, they persuade you to buy an expensive extended warranty, relying on your gullibility to believe this myth to make more money out of you. Not true. The time bomb' idea is an urban myth that has become popular on the Internet but has no basis in reality. If that was the case, every iPhone, Laptop Computer and MP3 player would fail at roughly the same time, which, to date, hasn't happened. What does happen is real life. Phones get dropped, wet, battered and lost and computer chips do fail if exposed to heat or extreme cold. What an extended manufacturer's warranty does is cover you for every eventuality, either repairing or replacing the faulty piece of equipment without the expense of having to replace it yourself.
Any disadvantages?
As with all contracts, it pays to read the small print carefully. There may be some things that your warranty does not cover you for, and you need to be aware of these before you decide to opt for an extended warranty. There may also be certain conditions attached to the warranty that, if broken, can invalidate the contract and leave you without any warranty at all. These are usually common sense things such as trying to fix or repair a broken item yourself, downloading pirated Software or adding on hardware that is not recommended by the manufacturer. As long as you adhere to the terms of your warranty, your item is covered.
The main advantage of a manufacturer's extended warranty is that your item is covered for a longer period of time. Most standard warranties last for a maximum of 12 months – after that, the item is not covered. By paying a little extra (and you have a guaranteed 30 days to think about it; you are not required to sign on the dotted line there and then), you get a longer period of coverage and a guarantee from the manufacturer that, should your item break down or fail, they will repair or replace it. Obviously, the final decision is down to you as the consumer, but extended manufacturer's warranties offer you peace of mind and could save you money if the worst happens and you drop your iPhone in a puddle a week after the original warranty runs out
About the Author: IT247.com has one of the UK's largest catalogues of IT, consumer electronics and related accessories, at highly competitive prices and best availability.Buy Laptop Computers and Internet Security Products online at www.it247.com Alison Brundle Design Co-Ordinator alison.brundle@scc.com
