Product protection plans are often referred to as:
- service plans
- extended service plans (ESP)
- extended service contracts (ESC) or
- extended warranties
No matter how protection plans are referenced, they still provide consumers with product coverage going beyond the standard manufacturer warranty.
While product protection plans are often called extended warranties, they are not actual warranties. The difference between a manufacturer's warranty and an extended warranty comes down to delivering more protection for the product being purchased, offering coverage when unexpected product issues occur and taking care of costly repairs or replacements as needed.
Like a manufacturer's warranty, extended service plans give you the ability to fix or maintain your purchase within a specified timeframe. Unlike a manufacturer's warranty, extended warranties come at an extra cost. Businesses often partner with product protection companies in order to offer plans to their customers when purchasing high value products like electronics, furniture, and cars.
Interested in offering extended warranties to your customers? Contact us to see how Mulberry's product protection platform can seamlessly integrate extended warranty offers into the customer journey.