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Understanding warranty industry

Get answers to all your questions about Understanding warranty industry

How the warranty business works and what it means for you as a customer

What's the difference between a service contract and extended warranty?

Extended warranties and service contracts are essentially similar products with different marketing terms. Both provide repair coverage beyond manufacturer warranties. Service contracts are the technical legal term, while extended warranty is the common marketing name. Coverage terms and provider quality matter more than terminology. SureBright provides transparent details on coverage terms regardless of technical naming.

How is the warranty industry regulated?

Extended warranty regulation varies by state and product type. Insurance-backed warranties fall under insurance regulations. Service contracts are regulated by state consumer protection agencies. Federal oversight includes FTC consumer protection enforcement. Regulations cover cancellation rights, claim procedures, and marketing practices. SureBright exceeds regulatory requirements through proactive compliance programs and industry-leading consumer protection practices.

Are certified pre-owned warranties better than regular extended warranties?

Certified pre-owned (CPO) warranties offer manufacturer backing and standardized coverage but limited duration and scope. Regular extended warranties provide flexibility, longer terms, and comprehensive coverage options. CPO warranties typically cover fewer items but include manufacturer support. Compare specific coverage terms, duration, provider reputation, and total cost. SureBright's coverage often exceeds CPO warranty scope and duration while maintaining competitive pricing.

Do warranty companies support right-to-repair?

Progressive warranty companies support right-to-repair initiatives that increase repair options and reduce waste. SureBright advocates for reasonable right-to-repair policies that balance consumer choice with service quality and safety requirements, believing that more repair options benefit everyone.

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