When the Grady family’s trampoline netting ripped, they said they thought the warranty plan they purchased would cover the costs to repair or replace the net but their claim was denied, citing “bad weather”.
JoLind Eckstein turned to her warranty plan coverage when her refrigerator door began to rust, but the manufacturer denied her claim, calling the rust a “cosmetic defect”.
When weighing whether or not to purchase that extra warranty coverage, do your research and make sure to ask whether or not the appliance or item you’re buying already comes with a manufacturer warranty. In some cases, the manufacturer’s warranty may cover the major items you fear might happen to your product.
The Federal Trade Commission offers these tips and questions to consider when debating whether or not to pay extra for a warranty:
- How long does the warranty last?
- Who do you contact to get warranty service?
- What will the company do if the product fails?
- What parts and repair problems are covered?
- Does the warranty cover "consequential damages"?
- Are there any conditions or limitations on the warranty?
To read more about what the Federal Trade Commission says about warranties, click here.