According to The Social Security Administration
, over 40% of single and 20% of married seniors rely upon Social Security checks for at least 90% of their monthly income. For seniors on tight budgets, it might appear counterintuitive to spend money on an extended warranty after managing to budget for essentials as new phones, TV sets, or washing machines. But at the same time, the additional protection may help senior citizens budget better if it covers unexpected repair expenses.
Why Seniors Should Compare Extended Warranties
It’s not difficult to find stories from seniors experiencing problems with the extended warranty that they purchased to protect them. As an example, AARP reported
that a senior couple paid $500 for a TV extended warranty from a major electronics chain. Before the warranty expired, they noticed ghost images on the screen, a problem that TV techs will refer to as burn-in.
Sadly, their warranty specifically excluded this problem, even though it may result from watching one TV channel too much. Nothing in their user’s manual ever warned them against only watching one channel, so they had hardly misused their TV set. In this case, the couple received enough press and attention to motivate the chain to replace their TV set; however, other people might not have gotten that lucky.
How Can Seniors Buy Good Extended Warranties?
Of course, nobody should have to depend upon luck to get an extended warranty to cover reasonable problems. In response, AARP offered some suggestions to help other seniors make sure they spend their carefully budgeted money on a high-quality, dependable:
- Read the warranty: Lots of people feel pressured to buy extended warranties when they check out with their purchase. That’s why it’s always a good idea to research brands in advance. This research should include researching common issues with the product and ensuring the warranty will cover them.
- Compare warranties: Nothing forces people to buy the protection offered at the store. According to AARP, store warranties actually tend to cost more than third-party warranties and don’t always offer better value. As an example, Upsie offers extended warranties on TVs, electronics, and major appliances. They also allow people to purchase them after they buy a new and sometimes, a used product.
- Compare warranty prices: AARP says that extended warranties shouldn’t cost more than about half the price of major repairs. Good warranties should also provide clear and transparent prices.
- Check out the customer service: Besides the types and number of repairs they cover, good warranties also provide good customer service. Customers should have an easy time reaching customer service. Additionally the service reps should provide helpful guidance to help resolve problems.
Comparing Third-Party Warranties
Sometimes, salespeople will put a lot of pressure on customers to purchase extended warranties when they buy electronics, appliances, and even fitness equipment. At the same time, all consumers can choose to buy their warranty from a third party and should see how warranties from high-quality warranty companies work
With Upsie, it’s as simple as:
- Compare: Using a few clicks to find the product on the warranty page to compare coverage and prices online.
- Buy: Buy the warranty completely online.
- Activate and save: Activating the warranty simply requires entering information about the device. This step also saves the receipt and other information, so there’s no need to keep track of paperwork later.
Afterwards, Upsie customers can always call customer service 24 hours a day, seven days a week to make warranty claims. Upsie warranties generally cost less than manufacturer and store warranties. They also provide the most convenient options for repairs and in some cases, replacements. This way, seniors can buy an affordable extended warranty and experience no-hassle claims should they have any issues with their product.
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