Warranty Myths that the Big Box Retailers Don’t Want You to Know About

This led me to ask, are warranties really worth it? And, are all warranties the same? Let’s look a bit more closely at some of the biggest retail warranty myths – and how you can make better decisions when you buy to avoid getting upsold on something that may not necessarily be in your favor.

What are retail warranties?

Retail warranties are a form of insurance that a buyer can purchase to help cover the costs of repairing an item in case it breaks during a certain period of time. Here are 4 Biggest Warranty Myths and Realities.

1. You cannot buy a warranty for refurbished or used products

Buying a previously owned product does not mean you are not eligible for a warranty. It can be a smart money move to buy used or refurbished, and doing so does not mean that you cannot get coverage.

2. Warranties will cover everything 

Most warranties are full of loopholes and exclusions that can keep you from getting your money back. There’s not a lot of transparency from retailers about what is included (or not) in your warranty.

3. It’s easy to file a warranty claim

If you want to actually file a claim on a warranty, good luck! Retailers make the process very difficult and the whole situation is stacked against the consumer.

4. Buying a warranty from the retailer is your only choice 

You have other options when deciding whether to buy a warranty. Some credit card companies will give you built-in extended warranties for free if you use their card to buy certain products.

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