Have you heard about a new concept in product warranty called Extended Warranty? Like most people, you too will find this term novel. To learn more about Extended Warranty in India, read on. With the increase in the use of convenience products like mobile phones and other gadgets, they certainly have added to the benefits that customers can enjoy without a glitch. However, these goods can be accidentally damaged and bring in unexpected problems for users. The same thing can be said about electrical goods and appliances. Once they get damaged or require attention, it’s very difficult to get these repaired as one has to shell out the costs from one’s own pocket.The fact is that handsets and electrical appliances do get damaged. No matter how much care you take of your handset, it is likely to get damaged due to a fall or exposed to water, or from some other mishap. At this time, your thoughts only revolve around how to get your handset or appliance repaired again. Plus, such accidents are not usually covered under the manufacturer’s warranty.At this time, your budget can get affected because you might need to pay for the repairs every time your phone or electrical appliance gets damaged. In case your mobile phone is not repairable; your budget might get disturbed again because you will need to shell out an appreciable sum of money for a new one. This process also consumes a lot of your precious time.Also, if you have a vehicle such as a car, then the average cost to repair it in case it gets damaged comes to a handsome five digit figure. At the outset, the cost of the car is generally high making you squeeze your budget while buying one. Further, any damage to the car can upset your budget. Therefore, though you may be excited on purchasing a vehicle, there come such worries as well.Some of the worries that you may face while buying a car is generally centered around a breakdown or an accident. At this time, the cost to get your vehicle back on the road can exceed your budget or at least throw your budget out of gear. The very first thought that comes to your mind is how to protect yourself from such costs.The same scenario is played out again if you own the costly modern appliances of today. Items like televisions, laptops, digital cameras, refrigerators, and camcorders are now common in many homes across the country. These appliances and electronic gadgets are expensive items for most families and if they stop working, then getting them repaired or replaced is an expensive proposition indeed.With the above examples, it is plainly understood that the products and services that we commonly use are liable to failure, sometimes within their warranty period. The risks involved are many. Some of the common problems that consumers face are costly repairs for the product, further expenses if the product cannot be repaired, and an unfriendly and an inconvenient repair and replacement process.So would it not be good if these products had an extended warranty on them? Extended Warranty is getting increasingly accepted in India. Due to the limited warranties of these products, extended warranty is now gaining wide acceptance in the retail, consumer, and automobile segment in India. This concept is made available by companies other than the manufacturer in the form of convenient product protection plans. These plans cover your product for an extended period even after the warranty provided by the manufacturer expires.For handsets, companies that are into the extended warranty business now offer handset protection plan along with additional coverage such as accidental damage while handling. Such plans run concurrently with the manufacturer’s warranty. They have convenient features like repair of the phone in case it is damaged, virtually at no cost to the owner. The plans have a provision of replacement or repair of the mobile phone every time it gets damaged, at virtually no cost to the owner. In case the phone cannot be repaired, it will be replaced.For appliances and electronic products, an extended warranty plan provides replacement or repair of your product. As part of the extended warranty plan, it is possible to extend the time of the warranty and also enhance the coverage and services during the extended warranty period. The product is repaired at no cost to the owner, and in case repair is not possible, it is replaced at not cost at all to the product’s owner. Plans for automobiles provide coverage for both new and pre-owned automobiles. The plan provides for a repair every time the automobile fails and at virtually no cost to the owner. The repair is done at the nearest authorized repair center. The plan also provides for free towing of the automobile within a certain mileage.This new concept thus provides for worry free use of the products you purchase with your hard earned money and provide you complete peace of mind.