Clyde compiled a list of 10 important things to know about product protection plans—from what to look for in the fine print to understanding the average cost—to help you decide whether a protection plan can save you money in the long run.
Before considering any extended warranty or protection plan, check the manufacturer’s warranty. Federal law requires that customers be able to read the manufacturer’s warranty before making any purchase that costs more than $15.
Always Read The Fine Print For Filing And Processing Claim
Even terms you might think you understand can be defined differently. Some warranties define a product’s lifetime as the amount of time a product is available from that manufacturer, for example.
Within five years, most cars lose more than half of their initial value. Electronics also depreciate quickly because so many new products come onto the market constantly.