Is It Worth It to Go for Extended Warranty for Smart TVs

By October 23, 2020
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Over the last two decades, a lot of things have changed in the consumer electronics segment. From products becoming more energy-efficient to the integration of artificial intelligence (AI), our appliances have become better and smarter. Our TVs, in particular, have undergone a radical transformation; from CRTs to now LED, OLED, and QLED TVs, the way our television sets now look and function are completely different from the ones that were available not too long ago.

TV OEMs are now focusing mostly on the smart TV segment. From full HD and Ultra HD (4K) resolution, to offering TVs that come with internal storage, faster processors, built-in voice assistants and other smart features, smart TVs offer greater convenience. Furthermore, Samsung’s smart TVs also enable you to work on them instead of your laptops, while enabling you to access your work computer.

Thus, smart TVs have transcended the role of being pure TVs, something that was unthinkable even a decade ago. Furthermore, brands like Xiaomi, OnePlus and Realme now offer smart TVs at pocket-friendly prices, which has enabled even the average consumer to purchase smart television sets. That said, premium brands such as Sony and Samsung offer smart TVs with higher resolution and large displays at a premium price.

While all the brands offer standard limited warranties when we purchase a smart TV, should consumers opt for extended warranties? The answer may not be as straightforward as you might have imagined.

When should you buy extended warranty for TV?

When you buy the best smart TV, the brand usually gives you a standard limited warranty for a period of 12 months. That said, TCL offers a 36-month warranty if you purchase a TCL TV offline, while Hisense recently launched the ‘Made in India’ smart TVs with 5 year TV warranty on panels.

However, most of the standard warranties only provide coverage against damages, including mechanical or electrical breakdown due to manufacturing defects or workmanship, which would mean that these warranties do not cover damages resulting from accidental spills or drops.

While during the first year your smart TV is protected against damages, what happens when the brand warranty expires? If you purchase a premium TV that costs around Rs. 1 lakh or more, you would want to protect your investment, and ensure that it remains operational for a long time. After all, your smart TV might get damaged from power surges, scratches, or normal wear and tear. As a general rule, it is wise to buy extended warranty for TV if you have invested around Rs. 50,000 or more to purchase the LED TV.

What does the extended warranty for LED TV cover?

When you purchase an extended warranty from the brand, it usually covers what the brand warranty covers. However, you can also opt for a third-party service provider while purchasing the extended warranty. The warranty extension would give you peace of mind, especially if you own an expensive smart TV. That said, buying extended warranty for TV that is either inexpensive, or isn’t a premium model might not make sense.

This is where one has to analyze if the cost outweighs the benefits or vice versa. For instance, if you own a 55-inch 4K smart TV from either Sony, Samsung, or OnePlus, which are premium TV models, then you have to buy an extended warranty for the TV, as it ensures that the TV is protected for at least 2-3 more years.

Some of the third party warranties provide coverage against physical or liquid damages, while also offering free doorstep pick-up and drop services, which might not be the case if you purchase an extended warranty from the TV brand. Thus, it is imperative that you read the fine print, and understand what damages are — and aren’t covered, while purchasing the extended warranty for your high-end TV set.

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