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—like those offered by Asurion—are 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 often 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.

Explore Asurion protection plans for gaming consoles

Gaming consoles aren't cheap, and neither are unexpected repairs. Asurion offers protection plan options that can help take the sting out of repair or replacement costs when something goes wrong.

Here's what to consider when exploring your options:

• Coverage that fits your tech. Depending on the plan, coverage may extend beyond your gaming console to other eligible devices and accessories.
• A straightforward claims process. When something breaks, the last thing anyone wants is another headache. Asurion offers online claims options to help make getting support easier.
• Protection for your budget. Paying out of pocket for a console repair or replacement can add up. A protection plan may help make those unexpected costs more manageable, depending on the coverage and any applicable fees.

Want to see what's covered? Explore Asurion protection plans to compare your options and find coverage that makes sense for your gaming setup.