{"id":1313,"date":"2023-12-22T11:22:13","date_gmt":"2023-12-22T11:22:13","guid":{"rendered":"https:\/\/www.redstarwealth.co.uk\/blog\/?p=1313"},"modified":"2023-12-22T11:22:13","modified_gmt":"2023-12-22T11:22:13","slug":"all-you-need-to-know-about-extended-warranties","status":"publish","type":"post","link":"https:\/\/www.redstarwealth.co.uk\/blog\/all-you-need-to-know-about-extended-warranties\/","title":{"rendered":"All You Need to Know About Extended Warranties"},"content":{"rendered":"

Have you ever bought a product and been offered an extended warranty? Most of us have at some point in our lives, so let\u2019s have a look at extended warranties are and if they\u2019re right for you\u2026<\/p>\n

What is Extended Warranty?<\/h2>\n

Extended warranties are a type of insurance that cover the cost of repairs to goods after the manufacturer\u2019s or seller\u2019s guarantee has ran out.<\/p>\n

You can take out extended warranties on a whole host of items, such as fridges, washing machines, televisions, cars, and many more.<\/p>\n

Standard Warranty<\/h2>\n

The Consumer Rights Act 2015 states that goods should be of a satisfactory quality and last a reasonable length of time under normal wear and tear. This means you already have a level of protection when making purchases.<\/p>\n

Manufacturers often guarantee their goods for up to 12 months, meaning that if the product you bought breaks in this amount of time from ordinary use (i.e, you haven\u2019t chucked it out of the window or set it on fire, etc), you can take it back to the shop and get a refund.<\/p>\n

Some retailers may add their own additional period of guarantee included in the price of the product, on top of the period covered by the manufacturer. For example, the manufacturer may have guaranteed the product for 12 months, and the retailer for an additional five years, bringing your total period of guarantee up to six years.<\/p>\n

What Protections do I Have Without Extended Warranty?<\/h2>\n

Aside from your protections under the Consumer Rights Act and standard warranty, you may have additional protection when purchasing goods.<\/p>\n

For example, if you pay for goods valued between \u00a3100 and \u00a330,000 on a credit card, the credit card company must cover you if:<\/p>\n