Atlanta, GA (PRWEB) December 15, 2009
If your TV, digital camera or laptop needed immediate repairs or replacement, could you afford the cost? According to Assurant Solutions, that should be one of the questions when considering whether to purchase an extended warranty or extended service contract.
If paying out of pocket for a major repair would strain your finances, you have a good reason to consider purchasing the extra protection, said Joe Erdeman, president of Assurant Solutions extended protection services business.
The holidays are the time of year when consumers purchase TVs, digital cameras and other merchandise that can be protected through extended service plans. However, if an item stops working a year or so later after the manufacturers warranty expires and there is no extended service plan, who is going to pay the repair bill?
An extended service contract typically increases the total cost of a covered item by about 10 to15 percent, depending on the length of the contract and the benefits provided. Some plans cover accidental damage and will replace the merchandise or refund the purchase price if an item cannot be repaired at a reasonable cost.
Assurant Solutions, part of Assurant, Inc. (NYSE: AIZ), is a leading global provider of extended service contracts and related services. The company regularly monitors the cost of repairing consumer electronics and appliances through its vast network of service providers.
The following are two examples of what consumers can expect to pay an independent servicer parts and labor for some typical electronics repair costs:
