A service plan functions as a contract of sorts. It is issued to the consumers who pay the additional cost in order to protect their purchase of a product. These contracts are much like extended warranties, but some differences are worth noting. There are even extended service plans available to consumers.
These are not the same as the warranties that are given out by product manufacturers. Usually the contracts require some type of maintenance, routine or preventative, that aligns with the original warranty of an item. However, they do not require product failure. Contracts are activated on the day that they are purchased. Extended warranties do not become active until the original warranty has reached its expiration date.
The main distinction between these is that warranties strictly cover defects in materials or workmanship. On the other hand, service contracts cover failure of the product in general. Usually there are a list of exclusions outlined in the policies. Most of these come with added benefits, for instance: accidental damage, theft, no lemon policies, technical support and priority service.
Contracts are known to vary in specifics, such as how the products are to be serviced. Sometimes they are fixed by technicians working at the retail store. Other times they require more work and must be shipped or sent off to another facility for repair work. Retailers might also replace the product with a newer item available in the store inventory. Or, they can issue a store credit to the customer. Products that are non-fixable or too expensive to repair might be replaced, or customers will receive a store credit toward the purchase of a brand new item.
Extended contracts are not mandatory. Choosing to get one is the decision of the consumer who may take into account how valuable the item is and the current sale price. Basic contracts are known to cover the basic repair costs for products and are designed to keep consumers from going to competitors for repair work.
Extended plans tend to last for a longer period of time and may come with added benefits. Individuals who are not familiar with the item, how it is used or how to maintain it, should consider purchasing a plan in order to get support options and other such benefits. However, this decision is entirely that of customers.
The contracts are offered through most retailers in business today. There are some products that are people are more inclined to purchase a plan for. These tend to be items that are fragile or more likely to malfunction, such as electronic devices. Some items bring in very little money to sellers and so the sale of accessories and these contracts are profitable and beneficial for retailers.
Most retailers offer extended service plans to consumers with the purchase of a product. These are like warranties but not the same thing. Generally, they are used to repair or replace items that have failed or malfunctioned. Plans are available through most sellers at different fees. These contracts are highly recommended for those who have purchased a valuable item or one that they are not that familiar with, as these usually come with added support.
These are not the same as the warranties that are given out by product manufacturers. Usually the contracts require some type of maintenance, routine or preventative, that aligns with the original warranty of an item. However, they do not require product failure. Contracts are activated on the day that they are purchased. Extended warranties do not become active until the original warranty has reached its expiration date.
The main distinction between these is that warranties strictly cover defects in materials or workmanship. On the other hand, service contracts cover failure of the product in general. Usually there are a list of exclusions outlined in the policies. Most of these come with added benefits, for instance: accidental damage, theft, no lemon policies, technical support and priority service.
Contracts are known to vary in specifics, such as how the products are to be serviced. Sometimes they are fixed by technicians working at the retail store. Other times they require more work and must be shipped or sent off to another facility for repair work. Retailers might also replace the product with a newer item available in the store inventory. Or, they can issue a store credit to the customer. Products that are non-fixable or too expensive to repair might be replaced, or customers will receive a store credit toward the purchase of a brand new item.
Extended contracts are not mandatory. Choosing to get one is the decision of the consumer who may take into account how valuable the item is and the current sale price. Basic contracts are known to cover the basic repair costs for products and are designed to keep consumers from going to competitors for repair work.
Extended plans tend to last for a longer period of time and may come with added benefits. Individuals who are not familiar with the item, how it is used or how to maintain it, should consider purchasing a plan in order to get support options and other such benefits. However, this decision is entirely that of customers.
The contracts are offered through most retailers in business today. There are some products that are people are more inclined to purchase a plan for. These tend to be items that are fragile or more likely to malfunction, such as electronic devices. Some items bring in very little money to sellers and so the sale of accessories and these contracts are profitable and beneficial for retailers.
Most retailers offer extended service plans to consumers with the purchase of a product. These are like warranties but not the same thing. Generally, they are used to repair or replace items that have failed or malfunctioned. Plans are available through most sellers at different fees. These contracts are highly recommended for those who have purchased a valuable item or one that they are not that familiar with, as these usually come with added support.
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