Is it my imagination, or are companies offering extended product warranties way more often than they used to?
Oh, I’m being coy. I know the answer—Portia reads the papers! 74% of electronics shoppers and 85% of appliance shoppers get the extended warranty pitch during their shopping experience.
Whether in-person at Best Buy or online at Amazon, it seems like every purchase now comes with a suggested extended warranty. And it’s not just for computers and smartphones. I’ve gotten these offers on crappy $10 earbuds, pet hair vacuum cleaners, and brass floor lamps.
Why are companies pushing these special extended warranties? And how do you know if purchasing one is in your best interest?
I’m proud to say that I’ve developed a formula to answer this very question, and I’ve put it into a helpful flowchart for all you good boys and girls. But it wouldn’t be a Kitty article if I didn’t bury my lede under some quasi-socialist deconstructions of consumerism first!