When you purchase an expensive new TV, it can be nerve-wracking to think about what would happen if you accidentally dropped a bowling ball or spilled a pitcher of beer.
After all, the manufacturers have built these televisions to last for years and years, not just for one party or viewing session.
No surprise then that manufacturers have discovered a great way to encourage consumers to buy their insurance plans — by making them appear like some deal for the customer that’s a rip-off in disguise.
If you’re going out and buying a new TV soon, read on to learn everything you need to know before you sign up for accidental damage protection.
- 1 What is accidental damage protection?
- 2 How does accidental damage protection work?
- 3 Is accidental damage protection worth it for TVs?
- 4 Are there any other options for protecting your TV from accidents?
- 5 The problem with insurance for your TV
- 6 Frequently asked questions (FAQ)
- 7 Final Words
What is accidental damage protection?
Accidental damage protection is a type of insurance plan you can purchase to protect your TV in case something terrible happens.
Generally, they price programs based on the size of the TV you’re buying. You can expect to pay around $5-$10 per month to add this coverage to your purchase.
If your TV is damaged in an accident, the insurance company will replace the TV for you. Like any insurance plan, there are a few key terms and conditions you need to know about before you buy it.
How does accidental damage protection work?
To get the money, you need to replace your television; you’ll need to file a claim with the insurance company. They will investigate the accident and determine if it was accidental or not.
If they decide it was an accident, they’ll replace your TV with a new one. In case you’re trying to get accidental damage coverage on a new TV, you can expect to pay around $5-$10 per month.
If you have the option to buy a plan that covers accidental damage and other types of problems, expect to pay more. If you’re trying to get coverage on a used TV, you’ll probably have to pay higher monthly premiums.
Is accidental damage protection worth it for TVs?
There’s no doubt that TVs are expensive, and you don’t want to be left without one if you accidentally break them.
But is the price of the insurance plan worth the risk to you? The primary consideration is how likely accidents are to happen that would damage your TV.
If the TV is going to sit in your living room, it’s not as likely you’ll accidentally damage it as you might if you were taking it to a party or using it at a sports bar.
If you’re using your TV for sports, parties, and kids, getting the insurance plan is probably worth it. But how much you’re covered for varies depending on the insurance company. The insurance company might not cover the repair cost if your TV is large or heavy.
You might also have to pay an additional premium if you have a large TV.
Are there any other options for protecting your TV from accidents?
While it’s true that TV insurance plans wouldn’t be very profitable for the insurance companies if they didn’t pay out a good portion of the time, you can do a few things to protect yourself from accidentally damaging your TV:
- Ensure that the TV is installed correctly and doesn’t fall over.
- Any kids or pets in the house are supervised around the TV.
- If you’re having a big party or special event, you might want to remove the TV from the room so it doesn’t get damaged by accident.
The problem with insurance for your TV
The problem with TV insurance is that the insurance companies are vested in paying as little as possible. For example, if the TV is only worth $300 and you accidentally break it while moving it, the insurance company probably won’t pay you $300 to replace it.
Instead, they’ll pay you enough to replace it with a cheap, $100 TV. This is because the insurance company is a for-profit company. The cheaper they pay for your TV, the more money they make.
Frequently asked questions (FAQ)
Does the TV warranty cover accidental damage?
Most manufacturers will offer warranty protection on your TV. If you accidentally damage it, they’ll replace it for free.
In case you purchased your TV from a store, you can either return the TV for a new one or contact the manufacturer about getting it replaced. If you’re buying the TV online, you’ll likely be able to receive a replacement or a repair through the manufacturer.
If you don’t have warranty protection, you shouldn’t rely on accidental damage protection as a backup. You’ll want to get a plan to cover your TV in case it gets broken accidentally.
What insurance covers accidental damage to TV?
Here are a few types of insurance you might consider to protect your TV from accidental damage.
– Homeowners or renters insurance – If you have homeowners or renters insurance, you might be able to add an optional TV insurance plan. This will vary depending on the insurance company, so it’s worth checking with your provider to see what coverage you can add to your policy.
– Special TV insurance
– A few insurance companies offer unique TV plans. They’ll differ from company to company, but you can expect to pay around $5-$10 per month for coverage that will replace your TV if damaged.
– Credit card insurance
– Some credit card companies offer TV protection as an add-on to your card. This will vary depending on the card and the company but expect to pay around $15/month for TV protection.
What is included in accidental damage protection?
Accidental damage protection plans for TVs typically include two things: First, your TV will come with a shorter warranty period.
Second, there will be a deductible that you need to pay out of your pocket if the TV breaks accidentally. The warranty on your TV will generally be shorter when you purchase the plan.
For example, it might only be one year instead of the two or three years offered with the TV when you don’t buy the plan. You’ll need to pay a deductible with the program if your TV breaks accidentally. This can vary, but expect to spend a few hundred dollars if your TV breaks.
If you’re buying a new TV, it’s a good idea to get accidental damage protection. It will cover you if you accidentally damage your TV while moving it to your home entertainment system.
You may also consider getting insurance to cover accidental damage to your TV.
This will vary depending on the insurance provider, but you can expect to pay around $5-$10 per month for coverage.