I bought a new fan, out of Argos, one of them blade-less ones
I would definitely look at the duration and when the coverage actually starts. If it begins immediately, does it overlap with the manufacturer’s warranty? Also, consider whether the service plan costs more than repairs would.
didn't bother with the extended warranty though, perhaps I should have....
Find out what’s covered and what’s excluded. Does it cover spilling coffee on your new fan, for example, or just defects in the device itself?
And if something goes wrong, where do you file a claim or bring the product for repair? This is important since many service-contract providers are third parties, not the stores where the item was purchased.
One of those providers is SquareTrade, which offers protection plans for a range of smartphones, computers, electronics, home appliances and other products. Ty Shay, the company’s chief marketing officer, says purchasing a protection plan is “an individual decision – how you feel about the item and whether you can live without it.”
I'm not sure service contracts are worth the money. You’re basically paying a fee on the possibility that the thing may malfunction, break or otherwise go bad in ways that will conform to the fine print in that coverage.
Consumers would be better off amassing a repair fund should something go wrong. I love extended warranties and service contracts but only the ones you sell yourself. Look at the price of that contract and put the money in the bank and hold it there.
Some consumers might have another option: extended coverage through home insurance. All personal property under the homeowner policy could be covered, as well as the main systems of the home. Insurance coverage is designed for the accidents regardless of the cause. It could be human error. It could be improper maintenance. For example, a flat-screen TV might fall off the wall. Your warranty is not going to cover that type of event.
Just be wary of telemarketers selling service contracts by phone. If you have problems with service contracts or their providers, you can file a complaint with the agency.
Good luck with your bladeless fan, Pat's Van.
