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New Warranty Option for Consumer Electronics

Boot Camp feature for Tuesday, August 12, 2008

A new warranty option for consumer electronics. Bloomberg Boot Camp, a report on today's technology. Whether you are purchasing a new flat screen TV....a computer....or a dishwasher....chances are the merchant will try to sell you an extended warranty. Consumer Reports often advises against spending the extra money. Now a Web site called GreenUmbrella.com is selling a flat rate 9.95 a month extended warranty plan....to cover just about all of your consumer electronics purchases. The site is part of Experian Interactive, owner of sites such as FreeCreditReport.com and PriceGrabber.com. It is partnering with the Warranty Group...for repairs. GreenUmbrella general manager Mike Balducci....

"It differs from a retailer plan in that instead of attaching to a specific purchase it attaches to the consumer and it follows the consumer around and covers essentially whatever they buy. Whatever electronic, computer or appliance item they buy. We've counted up the items that it covers and we believe it covers over 60 thousand individual items. So anything from refrigerators to computers, laptops, HDTVs. It's covered all in one place at the Web site GreenUmbrella.com. And all of that is just 9.95 a month."

No matter how many items you register. The items being covered have to be new....and they are covered for three years. Mobile phones are excluded. You can find more information at GreenUmbrella.com. Bloomberg Boot Camp, I'm Fred Fishkin.