When you purchase a new television, you’re frequently asked if you want to add an extended warranty. But are extended warranties worth the extra cost? Here’s what you need to know before deciding whether to get one.

First, it’s important to understand that the manufacturer’s warranty is usually included in the price of the television. Depending on the brand, it can range from one to three years. This typically covers any manufacturer defects or malfunctions that may occur in that time period.

Extended warranties, also known as service plans, come at an additional cost and generally provide coverage beyond the manufacturer’s warranty period. They guarantee repair or replacement of your TV. The cost for an extended warranty varies depending on the retailer and TV’s brand and size. Some service plans start around 10 percent of the cost of the television, with others reaching upwards of 30 percent.

It’s important to consider the reliability of a particular brand when deciding on an extended warranty. For example, if you go for a reputable brand with a good track record, it’s unlikely you’ll encounter any issues past the manufacturer’s warranty period. In this case, an extended warranty would be a waste of money.

However, if you’re purchasing from a lesser-known brand or a newer model that hasn’t been on the market long, it may be worth purchasing the extended warranty for added protection. Additionally, if you have children or pets in your household, your new television may be at an increased risk of accidental damage, thus making an extended warranty a good investment.

When shopping for an extended warranty, it’s essential to review the details of the coverage. Some plans cover labor and parts, while others only cover parts. Additionally, some service plans require you to bring your TV in for repairs, while others will send a technician to your home. Be sure to read the fine print to fully understand what is included in the warranty.

Ultimately, the decision to purchase an extended warranty on a new TV is a personal one. Weighing the cost of the warranty against the reliability of the brand and the overall risks involved in owning the television will help you make an informed decision. If you decide that the additional cost is worth the peace of mind, then an extended warranty may be a smart choice.