Knowing when to purchase an extended service contract for your investments can be just as important for your peace of mind as for your bank account. Numerous factors can influence the price of your extended service contract, including the age of the product, the price of the product, and how much of the product’s factory warranty remains.
At Centricity, we recognize that purchasing an extended service contract can be a difficult decision, especially if you are unfamiliar with the retail market. Our experts have decades of experience lending a hand to consumers in finding the right product protection plan.
Here are a few of our experts’ top tips to help you decide the best time to invest in product protection for your purchases:
- The newer the product, the lower the price of the extended service contract. The older the product, the more likely it is to need repairs, so the price of an extended service contract will be higher.
- Consider the length of the factory warranty. Most products typically come with a limited one-year factory warranty that protects you from the cost of repairs and replacements. If you plan to keep your purchase for more than the length of the manufacturer’s warranty, then an extended service contract can be an effective way to continue to protect yourself from unexpected costs.
- Determine your usage habits. If you plan to use the product heavily, day in and day out, like a television or a piece of jewelry, you are more likely to need repairs. In this case, an extended service contract can be a wise investment.
Regardless of your expected usage habits, the age of your product or the length of the factory warranty, the best time to purchase an extended service contract is within the first year of owning the product. That is when the price of most protection plans offer the greatest value and when you can lock in the coverage you need before your eligibility window closes to buy a plan.
Centricity has been a leading expert in product protection for over 40 years. If you are looking to purchase an extended service contract and don’t know where to start, the retailer where you purchased your product can help match you with the right plan length that meets your needs and budget.
To learn more about how Centricity can help you shop for product protection or if you need help finding the right plan for you, contact us today or visit our website.