Your Charlotte Home Insurance Guide to Warranties

Christmas is the biggest holiday for giving electronic gadgets from cell phones to laptops to gaming consoles. But because of that simple fact, the holiday season also offers ample opportunity for gadgets to be lost, stolen or broken. When is your device covered by your Charlotte home insurance? When is the manufacturer’s warranty enough, and when should you go the extra mile and purchase the extended warranty? Continue reading for some useful hints to help you with your Christmas gadget shopping! 

Accidents happen…like dropped cell phones and cracked screens (like my old phone above), but if that were to happen to one of your devices would you have the coverage you need? The following are the three types of coverage and their basics.

Home Insurance – Most homeowners’ policies cover theft or loss due to perils that are named in the policy (such as fire or lightning). However, broken gadgets due to dropping them or misuse, along with lost items are not covered by a home insurance policy. Also, with all claims filed you must pay the deductible first before the insurance coverage kicks in.

Manufacturer’s Warranty – Most devices are covered by the company that produced them for anywhere from 6 months to 1 year (it’s most commonly a year). The problem with this type of warranty is that the only event covered is a mechanical failure. All other types of damage or loss such as dropping it, spilling liquid on it, or losing the item is not covered.

Extended Warranty – An extended warranty is the best protection for the accident prone. It covers malfunctions, drops, spills and any other accidents that may happen. However, the extended warranty lacks protection for loss or theft.

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