The Advantages of Auto Renew: Convenience, Coverage and Confidence

So much time and energy can go into making a big purchase – trying out different models, researching different opinions online, searching for the best price and more. Once you finally make your purchase, the last thing you want to do is start over again. That’s where service contracts and extended warranties come in handy. If your product were to break or malfunction from normal wear and tear, these protection plans would help cover the cost of a repair or replacement after the manufacturer’s warranty had ended. Opting for an auto renewal on service contracts and extended warranties helps consumers stay protected long after their initial purchase. Don’t just take it from us – over 70 million American households benefit from automatic renewals on their service contracts.

Whether it is a personal electronic device, small appliance or home appliance or system, one of the most common reasons people choose protection plans with automatic renewal is for peace of mind that the service contracts and extended warranties on their purchases or personal assets will remain in place. Rather than being caught with an unexpected expense they didn’t budget for, consumers with auto renewals on their service contracts can help cover the cost of repairing or replacing their busted products without paying a huge lump sum. Having your plan auto renew means that you can have a sense of security about your purchases for longer than you would on a set term contract.

Another benefit cited by people with automatic renewals is the convenience of not needing to remember to re-up their coverage. The majority of people forget to renew their policies on their own, leading to larger windows of risk. A lapse in protection could create an expensive problem if your purchase needs repair or replacing after your term has ended. According to a 2023 consumer study, a whopping 63% of those who have service contracts and extended warranties say they regret not having their coverage automatically renew. That regret likely followed a pricey product replacement or repair.

The bottom line? As time goes on, things break down. Because it’s more of a matter of when it will happen (and not if), the true question is if you are covered when something does stop working. Auto renewals on service contracts provide ongoing freedom from the unexpected costs of repairing or replacing something you weren’t prepared to cover – and the anxiety that it induces!

For more information about SCIC and service contracts, visit https://go-scic.com/service-contracts/