Extended warranties may make for home savings

Sometimes homeowners need to spend a little to save a little money. While buying things like appliances and home computers can set individuals back some, having updated electronics can make for home energy savings and greater ease of living.

When families do decide to go ahead and make a large purchase, they may often pass up on extended warranties in an effort to increase home savings. While some experts may claim that these extended protections are not worth their weight in fees, others assert that the product security is a necessary investment, according to N.E.W. Customer Service Companies.

This opinion sits slightly in contrast to a recent Consumer Reports study that declared extended warranties were not worthwhile on the whole. While these differing opinions may confuse some homeowners, it may be best to make the decision on extended warranties based upon what items are being purchased.

When buying a refrigerator, homeowners should consider an extended warranty when they get a unit with an ice-maker built in, according to Consumer Reports. Because the mechanism that makes ice requires frigid temperatures and can be complex, it is more susceptible to problems.

Homeowners who choose simpler appliances that do not require intricate repairs may want to skip buying the extended coverage, as malfunctions would be less likely and less expensive to repair, according to the source.

In the laundry room, front loading washers may cause more problems than traditional top loading models, the source explains. However, the increased popularity of the former may mean that more homeowners will have to find a contractor to make needed adjustments.

When it comes to home computers and televisions, extended warranties may help make for home savings in the long run, according to WTOP.

For example, large televisions with cutting edge technology may be prone to complications. While repairs may become necessary, moving such a large and delicate item may not always be an option for families. In such cases, an extended plan that covers in-home repairs could be very valuable, according to the source.

Computers may be the best household staple to purchase an extended warranty on. Whether a computer succumbs to malware or wear and tear, it's likely it will need some sort of tuning up within four years. While not all warranties will cover the price of labor, they will generally cover the cost of replacement parts, which can make a huge difference in price, according to Consumer Reports.
 

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