Imagine driving down the highway, windows down, radio playing your favorite song. Suddenly, Murphy's Law kicks in - whatever can go wrong will go wrong. The engine sputters and dies. Consumers and business owners alike, no one is immune to product failures.
Most people have an extended warranty for their vehicles, a safety net against unforeseen car repairs that are generally very costly and usually outside of budgeted expenses. But what about everything else that breaks or malfunctions? Extended warranties for products like electronics, appliances, furniture and jewelry are just as important to ensure damages and malfunctions don't put a strain on your customers' budgets (or your bottom line). As a business, you can help your customers by offering an integrated product protection solution on your website so they can get coverage for everything they buy.
The Importance of Offering Extended Warranties
In the realm of business-to-business transactions, an extended warranty, or product protection plan, serves as an extra layer of protection beyond manufacturer's warranties. Product protection plans often include coverage for unexpected repairs or replacement parts that are not included under standard manufacturer warranty plans. In the case of Mulberry product protection, accidental damage is also included in the coverage terms which is a huge value-add for frequent online shoppers. If you're unfamiliar with manufacturer's warranties, here are some common exclusions that are not covered by a manufacturer's warranty.
The importance of offering extended warranties for your customers goes beyond simple mechanical breakdowns. Product protection gives businesses more leverage in fostering long-term relationships with customers by providing them peace-of-mind knowing they're covered when Murphy's Law kicks into gear. If you stand behind the quality of your product by offering extended warranty protection, your customers are more likely to trust your brand and the services you provide.
The Mechanics of Extended Warranties
Grasping the mechanics of extended warranties necessitates understanding how they are purchased, their period of coverage, when they expire, and what restrictions apply.
Purchasing Process and Coverage Duration
The process starts when your customer decides to purchase an extended warranty. They can usually choose from several payment options and warranty terms. Mulberry product protection can be purchased for an individual product over various durations, or customers can opt for unlimited product protection which covers everything under one plan for as long as they choose. Depending on their shopping habits, product usage and product type, different options may make sense for each individual customer.
Expiration and Restrictions
It’s important to make the coverage terms and documentation as clear as possible for your customers. Many customers won’t take the time to read through all documentation thoroughly, so they’ll appreciate clear terms and simple documentation. Many warranty companies have terms laden with fine print and restrictions, making the claims process very difficult and frustrating for customers.
Mulberry Product Protection vs. Other Warranty Programs
Product protection plans typically offer coverage for unexpected product issues, including defects, malfunctions, and accidents, for time periods longer than standard manufacturer warranties. But not all product protection programs are created equal. Accidental damage is a key element to look for when it comes to evaluating product protection programs, as many providers may simply offer an extension to the manufacturer's warranty. Mulberry protection plans can cover product malfunctions, accidental damage and everything in between.
Specific coverage and fees can vary significantly between product protection programs, and the process for filing and handling claims also varies widely and is often very cumbersome for your customers. When your warranty partner creates a challenging experience for your customers, this reflects poorly on your business. Mulberry makes it easy for customers to understand what’s covered, and even easier to file a claim with a simple online claims process. If customers have questions, they have access to 24/7 customer support and live customer service representatives that will help them resolve their issue. Learn more about the Mulberry difference.
Our mission is to help your customers save money by providing repairs, replacements or reimbursements when their product experiences damage. Get in touch with our team to learn how easy it is to offer this benefit to your customers.