Extended warranties are warranties offered when you’re about to make a purchase for something like a car, or an appliance. They usually make promises that if something happens to your expensive purchase they will either pay for it to be repaired or replace it all together. They are also sometimes called service warranties. Beware of these products because there’s often so much fine print, you are unable to make a claim when the time comes. Companies like these receive backlash for creating tons of barriers when its time to fix a product. The best solution is to follow the manufacturers care instructions and set aside the money that you’d spend on the warranty in an account for the item.