Should you get an extended/accidental damage warranty for your computer?

Extended warranties extend the coverage against defects and problems that a computer may experience for a longer period of time. An accidental damage warranty can cover a computer repair in situations that the standard warranty may not, such as water damage or dropping a laptop on a floor. On the surface, these warranties could save you a lot of money if you need a repair, but are they worth it? Let us look at a few of the factors to consider.

Reliability

Computers tend to be more reliable today than they were even a few years ago. As manufacturing processes improve, the chance of a major failure is less likely.

Cost

When considering whether to purchase an extended warranty or accidental coverage, weigh the cost of the warranty with the likely cost of a major repair and/or the parts needed for that repair. Then consider the likelihood of the repair being necessary. Also consider the replacement cost for a new laptop. Laptops have become increasingly less expensive, often making it cheaper to purchase a new laptop with a new warranty than to pay for a costly repair.

Insurance Coverage

In some cases, home insurance may cover the cost of some computer problems, particularly those caused by lightning damage or other factors associated with your home. Check your policy to see what may already be covered.

Saving Alternatives

You may want to consider skipping an extended warranty, but to put the same amount of money in a savings account. If a repair becomes necessary, the money in the account may be enough to cover it. If a repair is never required, you can use the money to purchase your next computer, or keep it in the savings account for future repairs.

There is no quick and easy answer as to whether or not an extended warranty will be worth the money in every situation. There are many users who have saved a lot of money by utilizing an extended warranty, but also many who paid for one and never used it. Considering the factors listed above can help you to make an informed decision based on your own personal needs.