Follow Mrs Moneypenny's warranty checklist and navigate costly warranties
What is an extended warranty?
Extended warranties are insurance policies that cover the cost of repairs or replacement on an item, for a set number of years beyond the manufacturer's own warranty.
Mrs M's Golden Rules
Don't be pressured to buy at the point of sale as there is no rush.
Check the manufacturers' warranty because most household appliances are automatically covered for the first year, so you dont have to rush into buying the first policy you're offered.
Check what cover you already have.
A number of credit cards give you a free extra year's warranty, on top of the manufacturer's warranty, if you buy electrical or white goods on them.
If you are not sure whether your card qualifies, call the number on the back of the card and ask about your benefits. But don't forget to repay in full, so you don't waste money on credit card interest.
Shop around - if you search for a standalone policy rather than one bought at the till in a shop you have time to compare it to other policies and can usually get a better deal.
Did you know?
If you or anyone you know have bought an extended warranty and are regretting it you have a 45
day cooling off period in which you can cancel and receive a full refund.
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