Extended warranty Insurance Policies are the policies that extend the warranty period beyond what is offered initially by the seller at the time of sales. It covers the cost of service, repairs and even replacement of the product due to manufacturing defects or poor workmanship. Extended Warranty Insurance enhances the life of electronic appliances even after the expiry of the original warranty provided by the manufacturer.
EXTENDED WARRANTY INSURANCE
On the customer end, extended warranty offers give customers a confidence on the quality and durability of the product. On the corporate end, it enhances the brand image and helps to get maximum market share. The risks associated with the extended warranty offers to corporates is mitigated through suitable insurance policies.
This extended warranty product is designed to meet the needs of owners of various electronic, electrical and kitchen appliances, furniture and small devices such as camera, laptop, mobile etc. This also covers damage caused by manufacturing defects after the expiry of the manufacturer's warranty period. Manufacturers wanting to offer extended warranty coverage to their customers can also purchase it.
Risks Covered
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Product failure risk |
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Non-availability of spares |
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Missing service commitments |
