What Do Service Providers Say About Extended Service Plans?

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What Do Service Providers Say About Extended
Service Plans?

• Regular maintenance can help keep your appliances
  running at their very best. But its just part of
  the equation. What do you do when the inevitable
  happens and the refrigerator or HVAC system that
  you depend on every day eventually breaks down?
  As a backup plan, numerous service technicians
  suggest that you look into an extended service
  plan (ESP) as a way of saving time and money on
  repairs and making sure that your home
  appliances not only run right, but last.So when
  is an ESP worth it? It depends on how much your
  products cost and what their value is to you. A
  good rule of thumb that a lot of service
  providers abide by is that an extended service
  plan is definitely worth the money if youre
  purchasing an appliance that costs more than
  500.For higher-end items it makes the most
  sense. You should view these purchases not as
  products, but as investments that you plan on
  protecting to the best of your ability.

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Another consideration is the manufacturers
warranty. You might already be covered, but for
how long? Most OEM warranties last anywhere from
three months to a year when the appliance is
still new. However, a service plan extends your
coverage by offering additional protection when
your item is older and youre more likely to need
it.That brings us to product reliability.
Several of our service providers have pointed out
the intricacies of todays appliances, which rely
more on computer boards and electronics, and are
built differently than they were some 20 to 25
years ago. The need for extended service plans
werent as great then, but when you consider that
todays parts can run as high as 300 an ESP
makes a lot more sense.Also keep in mind that
the average repair for a washing machine can run
anywhere from 150 to 500 and eat through your
budget pretty quick. For an oven/range, its even
worse and could end up costing you between 400
and 700.A service plan is designed to protect
you from absorbing those high repair costs. And
most repairmen will tell you that one service
call alone can more than pay for the price of
having an extended service plan, making an ESP
worth it to you.   
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