If you’ve ever moved into your first place or bought a new home, you probably know the feeling of needing new furniture. Last week my girlfriend texted me about her and her new neighbor being in the market for some new furniture. They were both questioning buying an extended warranty on new furniture.
She asked me, “Do you advise that we get the extended warranty on furniture?”
My quick reply was “I wouldn’t, but you may want to weigh the cost/benefit of doing it.”
Because the answer often lies in the cost benefit analysis, doesn’t it? What does it cover (fabrics, use coverage)? Are there any exclusions? How long does it last? The cost? How likely are you to need/use it (household considerations)? Those questions are top of mind.
I sent her the following texts about extended warranties on furniture also:
- “I’ve never bought it in my life and consider it a waste of money.”
- Plus, “I don’t know your neighbor’s household and likelihood of needing it.”
To which she responded her neighbor is an older woman who recently retired. She lives alone. To which I replied, “So totally not.” Because I would not purchase it if I were her.
I don’t know many people who have bought an extended warranty on their furniture. But if you’re considering it be sure to read the fine print. And take the time to understand how the warranty service works.
“Should I buy an Extended Warranty on New Furniture or not?”
There are a number of considerations that must be made to determine—if it’s right for you. Keep in mind many furniture manufacturers already give you a warranty with your purchase. And extended warranties drive up your costs.
I remember when I got my first apartment after college. I bought all of my new furniture without an extended warranty. And I never needed one. Believe it or not, many of that furniture is still holding up now (decades later).
My friend decided to buy an extended warranty for her new couch from the retailer. And she actually ended up using that warranty quicker than anyone could imagine. Let me explain.
When they delivered her new couch, it was broken. After waiting many weeks to get the couch, she decided to accept delivery, so that she could have something to sit on. And she was under the impression that it would be replaced with a new couch later.
However, since she had an extended warranty, the company opted to send someone out to fix it. I found that remedy to be totally unacceptable! When you buy a new couch, you expect to receive a new couch in good condition. Regardless of whether you purchased the extended warranty.
Any furniture purchase issues I’ve ever had could be seen when the item was delivered, so check everything upon arrival. One time I got a new dining set and discovered scratches on a table and unleveled chairs. I did not accept delivery for damaged furniture.
Have you ever bought an extended warranty on furniture? If so, was it worth it?
For more on this subject, check out Consumer Reports Extended Warranties.
