Asurion, the leading extended warranty provider, has developed a comprehensive, subscription-based program that lets consumers and small businesses protect multiple devices, both new and used, for a single monthly fee.
The customizable program, launched last summer with Office Depot, can be sold by retailers under their own brand to help build loyalty with customers, boost profit margins, and position dealers as a single-source destination for repair services.
According to Rob DiRocco, senior VP of Asurion’s retail solutions group, the plans cover both new and pre-owned products that are five years old or less and were purchased from any retailer. Eligible categories range from wearables and connected home devices to PCs, gaming consoles and home theater components.
Twenty dollars a month provides repair or replacement coverage for up to three devices, and customers can protect an unlimited number of devices for $10 more. Coverage includes accidental damage, normal wear-and-tear, and mechanical or electrical failure, and each claim carries a $49 to $89 fee.
Claims are capped at $5,000 a year, and Asurion imposes a 30-day waiting period following sign-up to discourage consumers from gaming the system with previously broken devices, explained product management head Terry Madonia.
Customer service is provided by the company's own call centers and a network of “highly managed” third-party service providers to present customers with a “seamless experience,” added DiRocco.
Founded in 1995, Asurion has since absorbed leading extended services providers NEW and Warranty Corporation of America (WaCA) to become a top warranty industry player. Its retail solutions group is backed by multiple underwriters and serves more than 50 of the nation’s largest retailers, who sell its plans online and through some 34,000 storefronts.
The new multi-device subscription plans are now available to any current Asurion client.