Approach with Caution
Most extended warranties are sold to you in store at the point of sale. Products purchased online may not offer you an extended warranty. You may receive calls or e-mails from marketers long after your purchase. At some point, you may receive communication from independent warranty providers. It may be beneficial to listen to what they have to offer.
Some of these callers may use slick sales tactics, question you about your recent purchases, and request personal financial information or a down payment. It is best to request more information about the company first, preferably something in writing to review before you part with any sensitive information. Look them up. A basic Google search can reveal a wealth of information.
In general, if a company hasn’t been around for at least three to five years, be very cautious. If they have not been around very long, how can you trust them to honor the terms of your extended warranty? Also, you run the risk of them closing shop, which results in you losing your money and being left with no coverage. I advise you to visit the company’s website before you make any decisions and read the reviews from other customers. Normally, the reviews will give you insight on whether or not it is a reputable company.
Find Out Who Is Responsible For the Contract
When you receive communication from cold callers, check the terms and conditions they offer. You need to consider if the company is established. If you hold an extended warranty with a company that goes bust, unfortunately there is nothing you can do.
It pays to do your research. Here are a few steps you can take to verify the reputation of cold callers?
- Call the customer service number in the contract and find out how they answer their phones. Is the person on the other side of the phone “sticking” to a script or are they on the other side of the world? Your first impressions will most likely be correct.
- Check to see if the number you are calling is free. If the numbers include premium rates, be weary.
- Are they in your yellow pages?
- Call your state consumer protection office and find out if there are any complaints against the contract provider. Usually, if there are no registered complaints, you know you are dealing with a reputable company.
- It is worth noting the exclusions in the contract.
- Compare and contrast the extended warranty with the manufacturers coverage and see if there are any advantages such as longer period of cover, service to pick up from home, no extra costs for labor or parts to repair the product? Do they replace a product if it hasn’t been rectified after a few repairs?
If The Extended Warranty Provides Extras – You Have A Bargain
A cold call might work to your advantage. It provides you with the opportunity to see what the market has to offer without having to physically lift a finger. If it sounds like a bargain, ensure you know what your warranty coverage is. Study the costs and terms plus the handling procedure. Find out if there are shipping costs to send out a damaged product for repair and if so, what those rates are.
Keep in mind the cost of your product. Are you considering equipment such as a stove, computer or washing machine that is used frequently or an expensive item including a camera, which requires regular repairs? Protection plans such as the one provided by Matrix Protection is what you need. Matrix allows you to cover ALL of your electronic devices under one plan, which will save you a great deal of money and stress in the long run.