With major retailers like Amazon, Target and Walmart launching early holiday sales, shoppers are facing decisions about whether to purchase additional protection plans for expensive electronics.
In past years, many people declined, not wanting to spend the extra money.
But as the cost of replacing computers, phones and other devices continues to rise, the question becomes more pressing: Are these extended warranties and protection plans worth the extra expense?
When to buy, when not to buy, a protection plan:
Families torn over whether it is a good idea
Julie Frye and her daughter Izzy represent the divide many families face when shopping for electronics at stores like Best Buy.
While Julie swears by protection plans, telling us she has used them successfully, her daughter takes a different approach.
"Sometimes I'll forget that I had it. Most time I don't use it," Izzy said.
Smart shopping expert Trae Bodge said the decision often comes down to price.
"If the protection plan is 20% of the price of the item, I'm definitely not getting it," Bodge said.
However, for high-ticket items, a plan or extended warranty may be worth considering.
"Especially if it's installed in your home and it's not something you could bring to a repair shop," Bodge said.
Sarah Day, VP of growth marketing at Asurion, which provides insurance, warranty and tech care services for electronics and appliances, believes protection becomes more valuable as technology prices increase.
"For me, as technology becomes more expensive, it becomes even more valuable to think about protecting yourself against the unexpected," Day said.
Day said that consumers can protect items individually as they purchase them, or consider multi-device plans that cover all the technology in their homes.
"Thinking about the average household having 18 or more devices, you don't know what's going to break when," Day said.
Questions to ask before you buy
Before purchasing any protection plan, experts recommend asking these key questions:
- How long is an item covered?
- Are there out-of-pocket expenses for repairs or replacements?
- Are there perks like installation or tech support?
- Do any of your current credit cards already offer extended warranties?
WCPOTony Marshall of AAA Laptops and More
The repair process is another crucial consideration, especially if it is something like a laptop that you need fixed the next day.
Tony Marshall, owner of AAA Laptops, suggests thinking about local repair shops that might fix devices in a day, rather than buying a protection plan that requires you to ship items away for extended periods.
"They've got to send the laptop in somewhere, and that may take 2 weeks to get it back, and that's just unacceptable." Marshall said.
So understand a plan's repair rules before you buy, so you don't waste your money.
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This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
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