1. Financial Strain
If you feel that having to purchase an entirely new item or making costly repairs would drain your bank account or leave you with a mountain of credit card debt, then you should definitely look into an extended service plan (ESP). It can actually enhance the value of your product as opposed to being a financial burden in the event that something does go wrong. With an extended service plan, you’re essentially transferring risk to the company that sold it to you and trading it in for peace of mind. Regardless of the product’s cost, having a smaller monthly ESP payment instead of an unexpected, large repair bill is a wise investment that can help keep you from breaking the bank.
2. Time Constraint
Another key consideration is time. An extended service plan can help: 1) Take the guesswork out of searching for a quality repair company to fix your damaged merchandise on short notice. 2) Find a replacement product and have it shipped to you in a timely manner if repair is not an option. 3) Provide you with on-site repair in many instances.
In short, a good extended service plan is designed to provide you with immediate assistance. If you are having trouble with a product, you’ll have instant access to an authorized service professional, via a toll-free number, who can diagnose the problem and help you get on with your day – right away.
3. Product Reliability
No matter how well designed a product is, nothing lasts forever. Failure is inevitable. That’s why it’s always a good idea to go online and research the potential shortcomings of the particular product you intend to purchase. Check into the long-term durability of that brand to determine its reliability and what type of coverage would be most beneficial to you.
Also, think about the implications of being without your favorite consumer appliance – whether it’s a refrigerator, television, dishwasher, washer/dryer or other durable good. If you feel that being without this specific item would be a burden to you, then an extended service plan serves as a good complement.
4. Accidents Happen
Consumer electronics have become more mobile over the years, which means that they are more susceptible to accidental damage from typical everyday use. Keep your habits and behaviors in mind as to how you use products like these. If you travel a lot or are constantly on the go, then your mobile devices could be at greater risk. And if you depend on a smartphone, computer tablet or laptop for important things like work or college assignments, just imagine how difficult it would be if you didn’t have coverage and had to spend a lengthy amount of time without them.
5. Long-Term Investment
It is human nature that we would treat a car that we intend to purchase and drive for a long period of time differently than we would a car with a short-term lease. If it belongs to us we’re more likely to keep it cleaner, buy higher-grade gasoline and go out of our way to avoid bad roads. The same can be said of any product. If you view something as a long-term investment more than simply a fleeting purchase, you’ll want to keep it operating at its very best for as long as possible.
An extended service plan is a must-have in situations like this and can be useful for items that depend on steadfast service. As always, be sure to read the coverage terms of your extended service plan to be certain that it meets your needs, and make sure that it includes a reliable repair plan to help keep your most important appliances working longer and to the best of their abilities.
For more information regarding extended service plans, visit warrantech.com or contact us today at 800.833.8801.