One question we regularly get from consumers is whether or not to spring for extended warranties when making a medium to high-value purchase. Check out this blog post for some tips on what you might want to consider before making that decision.
While warranties aren’t covered under BC’s consumer protection laws, here are some tips to help you make an informed decision:
- Do your homework. Before deciding to go for an extended warranty, do your research and find out what exactly is covered (does it include labour, shipping or home service calls?) and if it is valid in another country. Calculate the true value to see if the cost of purchasing the warranty is higher than replacing the product.
- Don’t feel pressured to buy on the spot. Ask the retailer how much time you have to purchase an extended warranty. Oftentimes, there will be an opt-in period after you make a purchase (such as 30 days) where you can still buy the extended warranty.
- Keep all your documentation. In the event you need to take advantage of your warranty or extended warranty, it’s a good idea to keep all your paperwork, including receipts, product manuals and more.