You may already be covered

If you’re buying a new appliance or electronic device, you may want to think twice before purchasing a service plan or extended warranty coverage.

Before you sign up for extended coverage, do some research to determine if you may already be covered. 

Depending on how you pay and where you purchase an item, you may be automatically enrolled for extended coverage for one to two years from the date of the purchase or the end of the manufacturer's warranty.

And given the rapid pace at which prices of electronics typically fall as new versions of products are introduced, by the time the manufacturer’s warranty has expired, you may find that you have paid more for the extended warranty than you would pay to replace the device.

Before you shop for your new appliances or electronics, research the best way to pay and where to shop so you don't pay for extended coverage you already have.