Understanding the U.S. Extended Warranty Landscape
An extended warranty is termed as a service agreement that is provided by the vendor, seller or manufacturer for any product or appliance. This is generally a period defined beyond the standard warranty for the product to repair or replace the product in case of any defect or damage. In the U.S. , extended warranty is provided by the retailers, third-party providers, or manufacturers to the buyers. What is shaping the extended warranty sector in the U.S.? Rise in cost of repair or replacement and surge in dependency on electronics among the customers boosts the growth of the extended warranty sector in the U.S. In addition, modern devices use a lot of technology which increases their repair cost, and thus manufacturers focus on providing this service. Extended warranty, thus, ensures customer engagement, as well. It is also offered to the buyer if the product is bought using any online platform. U.S. extended warranties are provided by manufacturers or sellers on...