Why an extended warranty for your gaming console is a smart purchase

What’s more exciting than unboxing a brand-new gaming system? Purchasing a protection plan!

Well, maybe not that exciting. Gaming systems like Nintendo® Switch™, Xbox®, and PS5® are used frequently in a household, making them susceptible to accidental damage, wear and tear, or system failures. Protection plans for gaming consoles give consumers peace of mind, knowing that a replacement or repair won’t break the bank or take them offline for too long.

In this article, we’ll explore the pros and cons of purchasing an extended warranty for your gaming console.

What is a protection plan for a gaming console?

An extended warranty for gaming consoles is basically insurance for hardware failures, accidental damage, power surges, and more.

A protection plan is more comprehensive than a standard manufacturer warranty (i.e., Nintendo Switch, Xbox, and PS5 warranties). Warranties are limited in two notable ways: they don’t cover accidental damage, and they expire. Protection plans (aka extended warranties) typically cover accidental damage and common repairs for gaming consoles. A good protection plan will also provide customer support so that you can get the most out of your gaming system. 

Pros of getting a protection plan for your gaming console

Game system insurance offers a host of financial benefits. Here’s why a protection plan is a good idea:  

• It covers the costs of common console repairs, including motherboard failures and HDMI port issues.
• It covers costs associated with drops, spills, power surges, and other accidental damage. Manufacturer warranties do not cover these.
• There are no unexpected out-of-pocket costs.
• Ensures the longevity of your console without costly repairs.
• Added perks. Some extended warranty plans will provide accessory coverage or easy access to customer support.

Cons of a gaming console protection plan

The downsides of getting an extended warranty include:

• Increased upfront expenses. Protection plans are purchased when you buy a gaming console. This adds more to the total cost of the system.
• Overlapping benefits. Some credit cards or retailer warranties might offer similar benefits. Always double-check to make sure you’re not paying twice for the same coverage.

As with any insurance plan, weighing the cost of a protection plan vs. the likelihood of needing repairs is important. To do so, ask yourself:

1. How often will this get used?
2. How many people use the gaming system?
3. Will the gaming console life in a high-traffic area?
4. What are the ages of the people playing the game?

How to choose the best protection plan for your gaming console 

Here are four considerations when choosing the best protection plan for your gaming console. 

1. Cost. Consider upfront costs, deductibles, premiums, and any additional costs to determine which plan offers the best value.
2. Coverage. Does the plan cover accidental damage, hardware failures, and normal wear-and-tear? The more it covers, the better. 
3. Exclusions. Of course, there are things that a protection plan won't cover. In particular, be sure to check the policies around theft and loss. 
4. Ease of filing a claim. It doesn’t hurt to “test drive” a company’s claims process before buying their protection plan. A confusing and lengthy claims process means more time without a functioning game console.

Why Asurion Home+ stands out

Asurion Home+ is a great choice for extended warranties for gaming consoles. Here’s how we stand out:

• Coverage for multiple devices. Asurion Home+ covers more than your console, we’ll also cover damage to your controllers, headsets, and more.
• Accidental damage protection. Accidents come in many forms, and we strive to cover them all. Manufacturer warranties provide very limited accidental coverage. 
• Easy claims process. Asurion customers consistently praise our no-hassle online claims process. Having a broken gaming system is annoying enough. We want you to get your device replaced or repaired as quickly (and easily) as possible. 
• Affordable monthly pricing. If you’ve ever paid for gaming repairs out of pocket, you’ll understand the peace of mind and low cost that comes from our affordable monthly pricing.