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Warranties & Protection · 5 min read

Service contracts, warranties and insurance: the basics

These protections can sound similar, but they are not interchangeable.

Quick noteThis guide is general education, not individualized financial, insurance, legal or medical advice.

1. Manufacturer warranty

Typically included with a product and covers specified defects for a defined period.

2. Extended warranty or service contract

Usually optional and sold separately to cover certain repairs or services under contract terms.

3. Insurance

Transfers defined risks to an insurer and is governed by an insurance policy and applicable regulation.

4. The practical takeaway

Identify the provider, covered events, exclusions, term, cost and claims process before paying.

Your next step

Write down the two questions that matter most to you, then compare information from official sources and qualified providers.

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