GITNUX MARKETDATA REPORT 2024

Statistics About The Average Extended Warranty Cost

The average cost of an extended warranty is typically around 10-20% of the purchase price of the product.

With sources from: consumersadvocate.org, go-scic.com, ahs.com, boatus.com and many more

Statistic 1

AAA reports that the average extended warranty for cars costs between $700 and $1,500.

Statistic 2

on average, a used car service contract costs around $1,500 according to Carchex.

Statistic 3

The average cost of an extended home warranty is around $350 to $600 per year.

Statistic 4

The average cost of a home warranty in the United States is $350 to $500 per year according to Angie's List.

Statistic 5

According to Consumer Affairs, extended appliance warranties can cost $50 to $500 depending on the appliance.

Statistic 6

According to Home Advisor, the average cost of a home appliance warranty is around $319.

Statistic 7

The average extended warranty for premium smartphones is between $100 and $150 according to Protect Your Bubble.

Statistic 8

Consumer Reports suggests that extended warranties for appliances typically cost between $100 and $500.

Statistic 9

According to the Service Contract Industry Council, a basic service contract for a new vehicle ranges from $500 to $1500 on average.

Statistic 10

Laptops extended warranties costs range from $300 to $400 according to Consumers Advocate.

Statistic 11

On average, a motorcycle extended warranty can cost anywhere from $300 to $900 per year according to the Motorcycle Legal Foundation.

Statistic 12

The average cost of boat extended warranties ranges from $800 to $1,200 per year according to Boat US.

Statistic 13

According to Consumer Reports, over 50% of extended warranty purchasers never use the coverage they've paid for.

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In this post, we explore the average costs associated with extended warranties for various products and services. From cars to appliances, smartphones to boats, we break down the numbers provided by reputable sources such as AAA, Carchex, Angie’s List, and more. Understanding these statistics can help consumers make informed decisions when considering whether to purchase extended warranty coverage.

Statistic 1

"AAA reports that the average extended warranty for cars costs between $700 and $1,500."

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Statistic 2

"on average, a used car service contract costs around $1,500 according to Carchex."

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Statistic 3

"The average cost of an extended home warranty is around $350 to $600 per year."

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Statistic 4

"The average cost of a home warranty in the United States is $350 to $500 per year according to Angie's List."

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Statistic 5

"According to Consumer Affairs, extended appliance warranties can cost $50 to $500 depending on the appliance."

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Statistic 6

"According to Home Advisor, the average cost of a home appliance warranty is around $319."

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Statistic 7

"The average extended warranty for premium smartphones is between $100 and $150 according to Protect Your Bubble."

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Statistic 8

"Consumer Reports suggests that extended warranties for appliances typically cost between $100 and $500."

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Statistic 9

"According to the Service Contract Industry Council, a basic service contract for a new vehicle ranges from $500 to $1500 on average."

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Statistic 10

"Laptops extended warranties costs range from $300 to $400 according to Consumers Advocate."

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Statistic 11

"On average, a motorcycle extended warranty can cost anywhere from $300 to $900 per year according to the Motorcycle Legal Foundation."

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Statistic 12

"The average cost of boat extended warranties ranges from $800 to $1,200 per year according to Boat US."

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Statistic 13

"According to Consumer Reports, over 50% of extended warranty purchasers never use the coverage they've paid for."

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Interpretation

In conclusion, the cost of extended warranties varies significantly across different products and services, with averages ranging from $50 to $1,500 per year depending on the item covered. Consumers are encouraged to carefully assess the price of the warranty against the likelihood of actually using the coverage, as statistics show that over 50% of purchasers do not end up utilizing the benefits they paid for. It is important for individuals to weigh the potential financial risks and benefits before deciding whether to invest in an extended warranty for their specific needs.

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