Is a Best Buy Warranty Worth It?

When you buy electronics at Best Buy, you’re usually spending a large amount of money. It makes sense to want to protect that purchase with a Best Buy warranty.

If you’re shopping online, the option to buy the warranty pops up at checkout and if you’re in the store, the cashier will ask you if you want the warranty. We’re all programmed to say ‘yes’ for the warranty especially when we’re buying an expensive product, but is the Best Buy warranty worth it? 

Let’s find out in our review below.

What is the Best Buy Warranty?

Best Buy’s extended warranty protects you after your manufacturer’s warranty expires. The coverage doesn’t start until your manufacturer’s warranty ends, but will cover issues the standard warranty doesn’t, which may be when the manufacturer’s warranty is still in place.

The extended warranty is an extra cost on top of the cost to buy the product. Most products come with a manufacturer’s warranty, typically for one year (sometimes longer), but the Best Buy Warranty extends the coverage.

It’s not for everyone, though, especially if you’re buying a product you will replace in a couple of years or the product only costs $150 or less.

How Does it Work?

Your Best Buy Warranty starts the day you buy the plan whether it’s the day you buy the product or you buy the plan after you bought the product. There isn’t a waiting period – the coverage starts as soon as you own the plan.

Even though there’s not a waiting period, the manufacturer’s warranty takes precedence. If it’s something that falls under the manufacturer’s plan, you must go through the manufacturer and deal with their process and timelines to get your product repaired or replaced.

The Best Buy Warranty only covers your product if the manufacturer’s warranty doesn’t cover it. If your product is covered under the manufacturer’s warranty, you must file a claim with the manufacturer. However, Geek Squad may help you. Some manufacturers allow Geek Squad to repair the product or return it if it’s defective. 

If you aren’t sure where to find your manufacturer’s warranty, click here for instructions.

If your product is eligible for repair or replacement under the Best Buy plan, Best Buy can repair or replace the item. They can also reimburse you up to the amount of retail price of the product when you bought it before any discounts.

To make a claim on your Best Buy Warranty, you must first determine the type of service you need:

  • In-home service for major appliances and 42” or larger TVs
  • In-store service for smaller products including cell phones, tablets, computers, music equipment, gaming equipment, and TVs smaller than 41”

You can schedule in-home or in-store service online or call 1-800-433-5778. If you need to make a claim for a lost or stolen cell phone, click here or call 1-866-205-4388.

What Does a Best Buy Warranty Cover?

This is where many people are mistaken. They assume anything that goes wrong with any product will be covered under the Best Buy Warranty, but that’s not how it works. First, you must use your manufacturer’s warranty if it’s still applicable.

The Best Buy Warranty is available on the following products:

  • Appliances
  • TVs
  • Cell phones
  • Computers
  • Tablets
  • Portable audio
  • Drones
  • Music equipment
  • Cameras
  • Wearable technology
  • Gaming
  • Health and fitness products
  • Smart home security

Coverage for each item is different, but in general the Best Buy Warranty covers:

  • Accidental damage
  • Batteries not holding a charge
  • Normal wear and tear
  • The cost of parts and labor
  • Hard drive replacement or repair
  • Power surge issues with electronics
  • Controller replacements for gaming devices
  • Repairs and reinstallations of appliances and products

What Does a Best Buy Warranty not Cover?

Like most extended warranties, the Best Buy Warranty doesn’t cover everything. The most common exclusions include:

  • Cosmetic damage
  • Intentional damage
  • Products still under manufacturer’s warranty
  • Theft
  • Faulty installation by someone other than Best Buy
  • Damage to product due to upgrades not bought from Best Buy
  • Environmental conditions (for example extreme heat)
  • Secondary damage, such as from a car accident

What’s the Cost?

Best Buy Extended Warranties costs differ based on the product and the coverage period. MOst products have a 2-year warranty, 3-year warranty, or 5-year warranty, all of which start after your manufacturer’s warranty expires.

Prices start at $14 and go up to $150+ depending on the product and the length of the warranty.

What are the Benefits of the Best Buy Warranty?

  • You get peace of mind knowing your product should be repaired or replaced if it fails after the manufacturer’s warranty expires
  • You don’t pay for parts or labor if your product needs repairing
  • There’s a No Lemon policy that replaces your item for free after a certain number of repairs or if the tech deems the product unrepairable
  • You can file a claim and schedule a repair appointment online
  • You can get service in your home for larger products or in your local store for smaller products, you don’t have to worry about mailing or shipping products

What are the Downsides?

  • The plans are expensive and it’s a gamble whether you’ll need/use the warranty or not
  • Most issues occur during the manufacturer’s warranty rendering the extended warranty null and void
  • Not all issues are covered and it’s up to Best Buy’s discretion whether or not to fix or replace the item

Best Buy Warranty FAQs

Can I buy Geek Squad Protection after buying the product?

Yes, you have 60 days from the date of purchase to add Geek Squad Protection. You can buy most plans online after the purchase, but you may need to visit the store to add a plan for Accidental Damage or Product Replacement Plans.

Can you transfer your Geek Squad Protection?

Yes, you can transfer your Geek Squad Protection whether you sell the product or give it to someone. Just call 1-800-433-5778 to start the transfer.

Are Best Buy extended warranties worth it?

Most of the time, Best Buy extended warranties aren’t worth it. Here’s why.

If you will replace the product in a couple of years, you’re inflating the cost of the product to get the coverage you may not even use. By the time the product becomes eligible for the extended warranty, you’ll likely be replacing the product with a newer version. Instead of spending the money on the product, you could save it for the newer version you’ll buy in a couple of years.

How do you make a claim on the Best Buy warranty?

Before you make a claim on the best Buy warranty, make sure your manufacturer’s warranty ended. If it did, call 1-888-237-8289 to talk to a representative about your issue or log into your account online to make a claim.

Best Buy will tell you what steps to take if you aren’t sure including whether you should set up an in-home appointment or bring the product into the store.

Why are Best Buy extended warranties a waste of money?

Most of the time, extended warranties are overpriced. The salesperson selling you the product or the store itself makes more money than you do by protecting yourself. Unless the product you’re buying is very expensive and/or you’ll keep it for 5 years or more, it’s often not worth buying the protection.

How long are Best Buy extended warranties good for?

Best Buy extended warranties are available in a variety of ranges starting at 1 year and going up to 5 years. The longer you need coverage, the more the policy will cost.

Bottom Line – Is the Best Buy Warranty Worth It?

We tend to avoid Best Buy warranties for a few reasons. First, we know the manufacturer’s warranty is usually pretty good and covers enough, especially products we replace often. Second, we know the cost of the warranty is high, and if we don’t use it, we just threw money out the window.

Instead of wasting money on a Best Buy warranty, consider doing your research and choosing a product with a good reputation. Best Buy sells a lot of different brands.

Do your research and determine which brand will last you the longest and perform the way you need it and then you won’t need to worry if a Best Buy warranty is worth it.

Kim Pinnelli is a personal finance freelance writer and koopy.com contributor. She lives in the Chicago suburbs, writing from home for the last 13 years. Kim enjoys helping people understand personal finances and writes on topics about saving money, investing, planning for retirement, and ways to increase income. In her free time, Kim enjoys hanging out with her 3 children, reading, crocheting, and spending time outdoors.

We will be happy to hear your thoughts

Leave a reply

Koopy
Logo
Register New Account
Reset Password