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3 Common Furniture Warranty Myths: Busted!

Furniture World News Desk on 1/14/2016

By Kevin Cundiff, VP of Retail for Fortegra

The average family spends $125 per month—that’s more than $1500 a year—on home furnishings. With that kind of dough going toward making their home beautiful, you’d think consumers would rush to protect those purchases.
But despite what seems to be an obvious need for protection, many customers still forego furniture warranties due to some common misconceptions. Here are three you may need to overcome to make the sale and keep your customers’ purchases protected.

Myth #1: ‘Extended warranties aren’t worth the extra money’
It’s true, not every extended furniture warranty is truly beneficial. Don’t be afraid to establish trust by explaining where extended warranties may and may not be necessary. As you explain, make sure you aren’t rushing customers through to the sale, as this could make them feel uncomfortable and more likely to opt out.

Myth #2: ‘I’m not a clumsy person, so I don’t need this’
To this customer we say, ‘Well, aren’t you lucky?’ It’s amazing how many random mishaps happen every day. From blunders involving kids, pets, or guests, to accidental rips and spills, even the most coordinated person will likely encounter at least one furniture mishap. Ask your customers if they are prepared for the ‘what-if’.

Myth #3: ‘I automatically have protection through my home insurance’

While this may be true in some cases, home insurance still doesn’t cover everything a furniture warranty will. Get to the heart of the issue and explain the benefits of furniture protection. If the customer is already protected, dive deeper into the type of protection they currently have and find where opportunity exists.

Being able to debunk common myths can come in handy when communicating with customers who are leery about furniture warranties. Though they come at a little extra cost, customers—and their furniture—are always better off safe than sorry.

More about Kevin Cundiff: Kevin Cundiff is Vice President of Retail for Fortegra, a subsidiary of Tiptree Financial Inc. (NASDAQ: TIPT). Fortegra is a single source insurance services company that, through a network of preferred partners, offers a range of specialty program underwriting, credit protection, and warranty solutions. Delivering multifaceted coverage with an unmatched service experience for both resellers and their customers, Fortegra solves immediate, everyday needs, empowering consumers to worry less and Experience More.