Boo! Avoid Financial Scaries with a Product Protection Plan

A steady budget is what keeps your household going. Blowing your budget and being left with financial unknowns can be frightening with purchases large and small, whether that is cars, home appliances and consumer electronics like your precious tablet or cell phone. A product protection plan can help you keep your budget safe from scary unknowns, like:

Breakdowns and Damage

It’s a truism to say that almost everything you buy is going to fail, break down, or possibly become damaged. Even the most diligent consumers can’t anticipate when or how that might happen to their most precious products. When something no longer works or is missing, you can be left in the lurch. According to the U.S Federal Reserve, 37% of U.S. adults couldn’t cover a $400 emergency expense. Product protection plans can help cover the cost of a repair or replacement to prevent derailing your budget and avoid unwanted interruptions to your daily routine.

Debt

When an expensive purchase fails to operate properly, is damaged beyond repair, or is stolen, many people don’t have wiggle room in their budgets to pay for these unforeseen expenses to repair or replace their purchase. In fact, according to the U.S. Federal Reserve, 10% of adults reported struggling to pay their bills when their monthly income varied. If something essential, like a vehicle or laptop, needs a repair or replacement that isn’t planned for, consumers often need to use a credit card to pay for it, leaving them to contend with credit card debt. Having a product protection plan can ease the financial burden of a repair or replacement.

Wasted Time

Most people take a lot of time to investigate large purchases. For example, the average car buyer spends more than 14 hours researching their vehicle, while Americans spend weeks to a few months deciding on large appliance purchases. The last thing consumers want is to sink even more time into researching the cost of replacements or financial options when the unexpected happens. A product protection plan can help make repairs easier and cover some or all of the replacement costs, thereby avoiding wasting your valuable time.

Protect Your Bottom Line

Don’t let unexpected expenses sneak up on you! As scary as these risks are, they can be avoided or mitigated with product protection plans. There are a wide variety of plans available to consumers, covering most of the items you rely on in your daily life. 

For example, motor vehicle protection products can give you peace of mind when the unexpected happens to your new or used automobile, such as damage to tires, wheels, or your windshield; minor but visible dents and dings; lost key fobs; or theft of your automobile. Learn more about these products, which are designed to protect your new or used automobile from damage and keep your car looking as good as it did the day you bought it.