I was recently out shopping with a client at a furnishing store when the sales person offered an additional furniture protection plan. Initially, my client was unsure and looked at me with the “Is this something I need or is this sales lady just taking a large chunk of commission out of my purchase” look. She responded politely with the “I’ll think about it” response and agreed that we would discuss the protection plan later.
When we finally made our way to a corner in the showroom, she asked me if furniture protection plans are really worth it. I smiled and shook my head, “No, furniture protection plans aren’t worth it in my professional opinion.” What’s more, the sales reps usually make a 20% commission on protection plans. Not a bad incentive right?
What Do Furniture Protection Plans Cover?
You see, a furniture protection plan is nothing more than an insurance policy on your furniture. Have a problem? You’ll have to file a claim and beg, plead, reason, scream, and rationalize with the claims representative into believing that you did not willingly punch a hole in your new upholstered couch.
Just as with insurance, there are many things they’re looking for you to say to slip up and deny your claim. Just one example, if you don’t know exactly how the damage occurred, they’ll take it as normal wear and tear because the damage cannot be pinned down to a single incident. Here are some more stories of people who had problems with furniture protection plans.
How Furniture Protection Plans (Don’t) Work
Furniture Protection Plans (and similarly related Fabric Protection Plans) offer repairs in the event that anything happens to your furniture. Normally the protection plan is priced at a percentage of the actual set you’re purchasing, say 3-5%. There can also be a minimum $100 charge for smaller purchases.
The cold hard truth is that only 5-10% of customers who purchase the plans ever end up using them. Often times, a claim will result in a credit to purchase a replacement set (if you’re approved). Otherwise, the providers are just collecting cold hard cash.
Many of the furnishing protectants are actually solutions that the average homeowner could apply without any trouble. Otherwise, a “service technician” will do the same for you which will make you wonder if it’s really worth it when you see them spray protectant on your sofa. Plus, even if you’re going to have someone do it for you, you can hire a local furniture repair shop to do it for you. It’s the same thing, just with the warranty you’re paying for something that might happen.
What About Furniture Warranties?
One thing you have to keep in mind is that many furniture manufacturers already provide their own warranty against factory defects. This should cover you for any damage that you didn’t create. Plus, they are more likely to honor claims than protection plan providers. This is not to be confused with “Service Warranties” which are the same thing as protection plans. Manufacturer warranties are fulfilled directly by the manufacturer.
Tips for Buying Furniture Protection Plans
Do your homework!
Check to see if the provider of your protection plan is a verified business with the Better Business Bureau. Ask around with friends and family. Do a quick search on Google and read reviews about the company. If there are any red flags, run with your wallet and consider purchasing a protection plan from another company.
Using an Unregistered Repairmen Will Void Your Protection Plan
If you have your furniture serviced by a company that is not a part of their registered network, you can effectively void your protection plan without even knowing it. Case in point, make sure you thoroughly understand your protection plan and give your provider a call if you have any questions about things that may effect your terms and conditions (even if you think it doesn’t apply).
NestandHome.com is the webs best kept secret with a mission statement that puts People over Profit. Nest and Home is different from other furnishing retailers because our team puts customers first. We won’t haggle you out of your hard earned money and we won’t suggest items you don’t need. We’re dedicated to helping customers find happiness and satisfaction in their home furnishings.