When making a major purchase, you’re typically offered the option of purchasing an extended warranty. Consumer Reports has long stated that for the majority of consumer goods, an extended warranty is an unnecessary expense. For example, when you purchase a television, the odds are anything that is going to break will likely do so while it is still under the manufacturer’s warranty. Extended HVAC warranties, like the Lennox Complete Care warranty, are an exception.
Heating and cooling systems are a significant investment. While your HVAC system will last for many years, the manufacturer’s warranty won’t. Most manufacturers’ warranties will cover parts for a designated period of time, but most either don’t cover labor costs at all or only cover them for a year. While parts can be expensive, labor costs are often much higher than the cost of the parts, still leaving you with a hefty repair bill even while your system is still under the original warranty. Failures have a tendency to happen when you least expect them or can afford them. An extended warranty provides coverage beyond the manufacturer’s warranty, giving you peace of mind and removing the worry that you’ll end up with a huge repair bill you can’t pay.
In addition to ensuring repairs will be covered without breaking the bank, extended warranties offer other benefits, including:
- There is no limit on the number of repairs that will be performed under the warranty.
- It protects against the rising costs of labor and parts.
- It can be transferred if you sell your home, increasing the value.
- Some extended warranties will provide you with priority status when service is required.
Extended warranties are available in a variety of coverage options, ranging from three years to 10 years, allowing you to choose the level of protection that is best suited for you.