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Have you ever wondered about the difference between a brand warranty and an extended warranty? Here is what you need to know.
While purchasing a new product, whether it is a laptop, television set or an air conditioner, the sales executive will likely try to sell you an add-on, which is the extended warranty.
Purchasing a new, expensive product is a long-term investment; that said, we also have to part with a substantial amount, and hence, we are often skeptical about purchasing an extended warranty.
Furthermore, the average consumer might not completely understand the difference between the brand warranty and an extended warranty.
After all, the product we purchase is covered against certain damages for a period of one to two years. So why should we pay anywhere between Rs. 3,000 – Rs. 5,000 on top of the amount we spend on purchasing the new product for the extended warranty?
It is important to understand the key differences between the manufacturer’s warranty and the extended warranty, and what is — and isn’t — covered under the two.
Differences between Manufacturer’s Warranty and Extended Warranty
Manufacturer’s Warranty: The brand warranty or the manufacturer’s warranty is the guarantee written on the product package by the manufacturer, which is given to the consumer upon purchasing the product.
The warranty promises that the brand will replace or repair the product within a specified time frame, provided the product is damaged because of manufacturing defects, or has been damaged while shipping (which also depends from one brand to the other). The consumer can get the product repaired at no additional cost within the warranty period, which usually ranges from 12 to 24 months.
Extended Warranty: As the name suggests, the extended warranty is an add-on that one can purchase, to protect their product against damages once the manufacturer’s warranty expires.
Tech stores and brands offer extended warranties at additional costs, which can be used to replace the product, or repair operational damages, and in a few instances, normal wear and tear of the product.
One can buy extended warranty for a period between 1 – 3 years.
Is It Worth Purchasing an Extended Warranty?
As previously stated, the manufacturer’s warranty coverage only extends to hardware problems resulting from manufacturing defects for a period of 1 – 2 years, and does not cover accidental damage.
However, if you opt for a laptop extended warranty, or purchase extended warranty for AC, you can protect your product against damages for an additional period.
Furthermore, you can also purchase third-party warranties that also cover accidental damages, along with breakdowns and loss due to burglary.
Most of the third-party services also offer cashless and speedy services, along with hassle-free doorstep pick-up and delivery services.
Extended warranties particularly come in handy if you purchase an expensive product, and want to ensure that your electronic product remains operational for a long time.
An extended warranty not only offers additional coverage after the expiration of the manufacturer’s warranty, but it can also offer additional protection against damages that might not be covered under the brand warranty.
This makes extended warranty an invaluable option, especially if we are talking about an expensive product that you want to protect for at least 3-4 years.
Whether it is a new air conditioner with top-of-the-line features and latest technology, an expensive laptop from a top brand, or a new, premium TV, you would want to protect your investment for as long as possible.
You can purchase extended warranties from either the manufacturer, or from a third party and you can make the decision by reading the fine print.
Extended warranties from brands usually provide coverage for the same damages as the standard limited warranties they offer, but brands like HP also provide Accidental Damage Protection Plans, which cover damages due to accidental spills, drops and electrical surges.
On the other hand, most of the third party warranties provide protection against physical damages, as well as damages due to breakdowns or normal wear and tear, and thus offer a more comprehensive coverage.