There is an important question to ask yourself before you buy an extended warranty on your new furniture. Several studies have found that extended warranties on appliances and electronic equipment are not a good deal for consumers, but what about a warranty on furniture?
Stephanie had just graduated from college and purchased new bedroom furniture for her rented apartment. The salesperson convinced Stephanie that she should protect her furniture from spills, stuck drawers and a host of other possible problems. So, she bought the five-year extended warranty.
According to Stephanie, what she wasn’t told was that the warranty would stay in effect for the furniture as long as it was at the original delivery site, her rented apartment. Being a new college grad and likely to move before five years she cancelled the extended warranty. So there, you have another question to ask before you buy an extended warranty: does it apply if I move?