What Are Service Contracts for Consumer Products?
A service contract, also known as an extended warranty can help protect the customer’s investment of the purchased product either alongside an existing manufacturer’s warranty or to extend protection beyond.
Service contracts are sold separately from the manufacturer’s warranty, offering additional coverage options for a separate cost.
Many products and electronics today are expensive and could require costly repairs or replacement over their lifetime. Having a service contract can be beneficial to help cover future incidents like breakdowns and damage that could occur either during or after the manufacturer’s warranty.