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A Comprehensive Guide to Extended Warranty Companies

Life continues to remind us to expect the unexpected. You can’t control the often-chaotic conditions that surround you (that sometimes lead to accidental damage), but you can opt for extended warranty coverage on your stuff to prevent future expenses and pay yourself forward.

While manufacturer warranties offer some benefits, they are limited, restrictive, and only provide short-term coverage. Extended warranties provide longer-term protection, go beyond the basic manufacturer defects, and truly help you avoid expensive repairs or replacements down the road. Extended warranty insurance covers unanticipated accidental damage and issues arising from long-term product use.

Choosing robust safeguards for your purchases, especially for expensive products like electronics, furniture, and appliances, can give you peace of mind and a higher level of certainty that you’ll get the total value out of your item. You'll also be less fearful to use your item, knowing it's covered should something happen to it. Don’t let your hard-earned money go to waste. For a nominal fee upfront, you can protect your investments and significantly extend their life with extended warranty coverage. Check out this article to learn more about which products you may want to protect with extended warranty insurance.

A round-up of extended warranty companies

You probably aren’t an expert on warranties, and it might seem overwhelming to try and compare the wide variety of extended warranty coverage options available when making an online purchase. That's why we're here, to help you navigate confusing extended warranties and understand what an extended warranty covers. We’ll show you how to evaluate the warranty solutions available when you're shopping with major retailers.

This chart can help you compare and contrast some of the extended warranty companies you'll see offers from as you shop:

Extended warranty company

What they offer

Limitations

Term length

Claims and fees

Guardian

Protection plans for indoor and outdoor furniture

- Not all items are eligible for coverage

- Standard plans do not cover breakage, odors, some staining, and normal wear and tear

Plans are usually 5 years

- Claim process requires extensive documentation

- Rates start at $99

Allstate/ SquareTrade

Electronics, phone, appliance, and furniture warranties 

- Exclusions vary depending on the product and type of plan you choose

- Not all plans cover accidental damage

2, 3, 4, or 5-year plans

- Some products, like laptops and iPads, have a $39-$75 deductible

- Monthly plans available for some products

Asurion

- Electronics, phone, and home appliance warranties

- Can extend the manufacturer’s warranty

- Accidental damage, loss, theft, and defect coverage available for some products

- Long list of limitations that vary based on the retailer you purchase from and the plan length

- Sample terms and exclusions can be viewed for each retailer

Plan length varies based on product

- Must provide a receipt to start the claims process

- Plans start at $29.99/month but are typically much higher

- Service fees are required for many repairs

Guardsman

Indoor and outdoor furniture, power tools, jewelry, appliances, instrument, and other coverage

Many exclusions like stains on certain materials, wear-and-tear, and misuse/improper maintenance

Plans up to 5 years, but vary based on product

Online claims submission process, but rates can be high

Mulberry

- Free browser extension that offers unlimited 1-year protection plans and extended warranties

- Coverage for almost anything you buy online

- Other financial product offers like home, pet, and car insurance, cash-back on purchases, rewards credit cards, and high-yield savings accounts

- Comprehensive coverage from product defects to accident protection

- Accidental damage protection available for most products

1-5 year plan options

- No deductibles and no fees

- Unlimited free 1-year protection plans

- Lowest-price guarantee

- 24/7 online customer support that’s attentive and transparent

The importance of “shopping around”

When shopping for a car, a house, or anything with a high price tag that you hope to have for a long time, would you quickly buy the first one you see? Probably not. It just makes sense to do your research, compare your choices, and make sure that the product you choose is as well suited to your needs as possible, as it’ll be something you hope to enjoy for years to come.

Checking out a range of competing options dramatically increases the potential of getting optimal value, years of use, and satisfaction from expensive items.

Approaching a purchasing decision regarding extended warranty coverage should be no different. Considering your priorities for product protection, assessing the value offered by the warranty solution, reviewing the reputation of the extended warranty company, and evaluating the cost conditions in relation to your specific needs is the best way to ensure that your product will hold its value and remain high-quality

Find the most comprehensive coverage for the lowest price

Some extended warranty companies offer great coverage, but they'll charge you really high rates; other companies offer seemingly good deals, but you'll sacrifice the actual extended warranty coverage. Extended warranty insurance is not created equal, which is why it's important to find the one warranty solution with the best balance for your needs.

Here are a few things to consider when looking for high-value extended warranty coverage that don’t wound your wallet:

  • Length of contract term: are you willing to sign up for a longer-term plan to pay lower rates?
  • Total warranty plan cost, including the premium, deductibles, and fees: make sure you factor in not only the upfront cost of the plan, but the deductibles and fees you'll pay when you need to file a claim.
  • Conditions and limitations: will the damage be covered for the specific product you purchased, or is there fine print that excludes some major incidents and damages?
  • Claims process: how easy will it be to file a claim and follow up on the status until your claim is resolved?
  • Customer service: is there an accessible, live customer service team that will help you through the process and answer your questions?
  • Online tools and support: does the extended warranty company offer online tools that give you alerts while you shop, and offer instant price comparisons on warranty coverage options?
  • Product cost vs warranty cost: a good rule of thumb is not to spend more than 30% of the product cost on an extended warranty

You can trust Mulberry’s robust, innovative, and affordable extended warranty plans

As the insurance industry continues to evolve, forward-thinking plans that surpass value standards and offer more protection for consumers are emerging. Mulberry’s comprehensive coverage with a low-price guarantee fall into this category.

We are a people-first brand committed to saving you money rather than marking up our services. There is no middle-man with Mulberry. We're able to pass the savings directly onto you, offering completely free 1-year product protection for almost anything you can buy online and longer-term coverage that’s either free or a fraction of the cost you’d pay through any other extended warranty company. If you find a better price, we will match it - guaranteed. 

We’re dedicated to educating consumers on their best extended warranty options, creating a claims experience that is simple and transparent, and cost-effective and fair product coverage that actually delivers. We also curate savings on other financial products and services not available through traditional extended warranty companies, like low-cost home, pet, and car insurance, cash-back on purchases, rewards credit cards and high-yield savings accounts. Install the free Mulberry browser extension to see how we can help you save. 

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Kim Miller

About the author

Kim Miller is the Head of Consumer Marketing at Mulberry. She is passionate about building products and brands that make consumers happy, save them money and make their lives easier. Have an innovative idea for Mulberry you'd like to share? Give her a shout! She'd love to chat about anything from fintech and UX to gardening and antiquing.

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