Sharing Daily Discoveries About Personal Finance And Business Topics

Buying Product Insurances For Christmas Gifts

Yesterday I was shopping for some presents for my nephew where I decided to buy a video game. Interestingly enough, the store actually sold insurances for the game where for like an extra $5 or so they say that you can replace the disc if it is say scratched or doesn’t work anymore(They have insurance add ons for everything huh?).

I heard one of the employee’s pitch where he was saying if the person was buying it as a gift then the extra insurance would be a wise purchase as you don’t want to give people gifts and not have it protected where they can’t freely replace the item without paying more out of their own pocket.

For me, I personally don’t care too much if a person didn’t purchase an extra insurance coverage for items like this. I’d rather have them save their money as the gift is generous enough I think. Not only that, I know the majority of people never actually use the insurance coverage anyways.

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