The Pros and Cons of Extended Warranties


When you go to purchase a new laptop, the cashier will let you know the length of the manufacturer’s warranty. Then, they will ask whether you want to sign up for the retailer’s extended warranty program. Should you say “yes”?

Read this list of pros and cons of extended warranties for laptops. These will help you figure out your answer.

Pro: Extended Coverage Time

Your laptop automatically comes with a manufacturer’s warranty. The warranty grants the user coverage for repairs and replacements caused by manufacturing defects. The timeline of the warranty typically lasts for a year. 

Once that timeline expires, the user is 100% responsible for laptop repairs, even when the problems are caused by manufacturing defects. Without that coverage, you will have to pay for the repairs out of pocket — unless you decide to sign up for an extended warranty program. 

An extended warranty program sustains the repair coverage past the original deadline. The program will come with monthly or annual fees until you cancel your membership. 

Pro: Extended Coverage Services

An extended warranty program can also increase the type of coverage users can access. Again, with a manufacturer’s warranty, you will only access coverage for repairs related to manufacturing defects. So, if you cause accidental damage to your laptop, like spilling a drink on your keyboard or dropping it on the ground, you will not get any financial help for the repairs.

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However, many extended warranty programs offer coverage for repairs for accidental damage. The popular extended warranty program Applecare+ for Mac gives users protection for up to 2 incidents of accidental damage per year. 

Con: Long-Term Costs

You will have to pay for your extended warranty program. In some cases, your membership will end up costing you more than the repairs it covers. For instance, a simple battery replacement for your laptop will likely cost you less than $100. In comparison, extended warranties for laptops range from $100-$400.  

It might be savvier to use other methods to cover one-time repair costs instead of signing up for a long-term insurance plan. What other methods can you use?

An emergency fund is an excellent option. With an emergency fund, you can pay for the urgent repairs out of pocket without worrying about how the expense will impact your budget. You can get your device fixed immediately and move on.

If you don’t have enough emergency savings, you could turn to a backup plan like your credit card or an emergency loan to help you cover the urgent repairs. You can apply for a loan through CreditFresh to deal with this problem. You can send in your application online or do it over the phone. If you’re approved, use the borrowed funds to get your laptop up and running again.

Con: You Can Already Have Coverage

Signing up for an extended warranty program through a retailer isn’t the only way you can push your coverage past the original deadline. You can get an extended warranty through your credit card — you just have to use the credit card to purchase the laptop. 

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Extended warranties through credit cards typically double the original warranty time. So, if you had a year’s worth of protection, you would double it to two years. 

This method allows you to extend your coverage without having to pay any additional fees.

Now you know the pros and cons of getting an extended warranty for your new laptop. What will be your answer? Will you sign up for the warranty or skip it?

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