Credit Cards

Best extended warranty credit card?

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  • Jun 19th, 2020 1:22 am
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[OP]
Sr. Member
May 22, 2012
924 posts
80 upvotes
MONTR

Best extended warranty credit card?

Hi,

Is there any CC that beats RBC Cash Back World Elite MC?
https://www.rbcroyalbank.com/credit-car ... urance.pdf

They triple manufacturer's warranty up to 2 years.

What do you guys think about it?

Also in terms of extended warranty, say you had 1 year, plus 2 from the CC. Does that mean if you had an issue, you can go to any repair center, get a quote and if the quote exceeds the cost of the item or very close to it, they just reimburse you?

How can they know if the item is actually broken, i.e. a laptop? If it's indeed broken, finding a replacement motherboard could be very costly but how would they know if the quote is legit?

Nowadays laptops can get very pricey that's why I wanted to have a CC that can give me the best extended warranty.

Thanks a lot.
10 replies
Newbie
User avatar
Jul 6, 2017
45 posts
48 upvotes
Québec
There is also NBC World Elite Mastercard:
https://www.nbc.ca/personal/mastercard- ... elite.html
Possibility of tripling the manufacturer's warranty up to 2 additional years

As with any insurance, I would suggest calling the insurance provider first before any expense to see if they will cover the costs or not.

Pretty sure that an additional 2 years is the most you can get from any credit card in Canada.
[OP]
Sr. Member
May 22, 2012
924 posts
80 upvotes
MONTR
Thanks a lot, their conditions seem to be really bad though, up to 60k for the entire lifetime of the account, and a lot of things like portable computers and electronics are excluded:
https://www.nbc.ca/content/dam/bnc/part ... 3705-3.pdf

RBC one is better IMO.

I can call them but if I act within agreement document, everything should be ok, so I think calling them might bring more BS and misinformation. RBC covers computers and laptops so I should be covered.
Sr. Member
Nov 22, 2012
560 posts
549 upvotes
NS
BMO CashBack World Elite MasterCard provides 180 day Purchase Security and upto an additional 2Y Extended Warranty.
[OP]
Sr. Member
May 22, 2012
924 posts
80 upvotes
MONTR
Thanks that seems like a good card, seems to include computers, etc. Only thing is up to $60k for the entire duration of the account vs $50k per year using RBC CC. Not the worst thing but something to think about.

https://www.bmo.com/pdf/CB_WE_Travel_Me ... ate_En.pdf
https://www.rbcroyalbank.com/credit-car ... urance.pdf

But BMO's 180 days is better than RBC's 120:

BMO: "This insurance covers against theft of, or damage to, covered items anywhere in the world. If such
item is stolen or damaged, it will be repaired, replaced or You will be reimbursed the Purchase Price, at
Our discretion."

RBC: "Remember to obtain a police, fire, homeowner insurance claim, or damage/loss report in
the event of a claim as it is required to determine eligibility for benefits.

This insurance is classified as supplemental, in that it covers expenses in excess of
expenses payable by any other insurance plan. For example, if you are covered under
homeowners insurance, this insurance will cover the deductible only."

So not sure this applies to extended coverage or only theft.
Member
Feb 5, 2012
392 posts
111 upvotes
Toronto
lachdanan wrote: Thanks that seems like a good card, seems to include computers, etc. Only thing is up to $60k for the entire duration of the account vs $50k per year using RBC CC. Not the worst thing but something to think about.

https://www.bmo.com/pdf/CB_WE_Travel_Me ... ate_En.pdf
https://www.rbcroyalbank.com/credit-car ... urance.pdf

But BMO's 180 days is better than RBC's 120:

BMO: "This insurance covers against theft of, or damage to, covered items anywhere in the world. If such
item is stolen or damaged, it will be repaired, replaced or You will be reimbursed the Purchase Price, at
Our discretion."

RBC: "Remember to obtain a police, fire, homeowner insurance claim, or damage/loss report in
the event of a claim as it is required to determine eligibility for benefits.

This insurance is classified as supplemental, in that it covers expenses in excess of
expenses payable by any other insurance plan. For example, if you are covered under
homeowners insurance, this insurance will cover the deductible only."

So not sure this applies to extended coverage or only theft.
Are there exceptions to this? I.e. tech gadgets getting stolen/damaged
[OP]
Sr. Member
May 22, 2012
924 posts
80 upvotes
MONTR
poppy1337 wrote: Are there exceptions to this? I.e. tech gadgets getting stolen/damaged
If I am not wrong RBC allows thefts some likely BMO too but damage I don't think so. Accidental damage would be too easy. But I think damage is covered within 120/180 days, because it's the sensitive protection timeframe I think.

That's why it's a big deal for me to have these "for free". Square trade only insures for 2500 USD for a computer which is nothing and they want 500 USD for this.

I use expensive computers/laptops that cost close to 10K CAD, so I want to be secured that they are insured properly. Not even travel insurance covers items this expensive.
Deal Addict
Sep 24, 2018
1914 posts
1013 upvotes
lachdanan wrote: If I am not wrong RBC allows thefts some likely BMO too but damage I don't think so. Accidental damage would be too easy. But I think damage is covered within 120/180 days, because it's the sensitive protection timeframe I think.

That's why it's a big deal for me to have these "for free". Square trade only insures for 2500 USD for a computer which is nothing and they want 500 USD for this.

I use expensive computers/laptops that cost close to 10K CAD, so I want to be secured that they are insured properly. Not even travel insurance covers items this expensive.
I have 10k+ machines as well, monitors you name it, even a new Mac Pro that was over 25k+

You need "REAL" insurance for this....for travel, you need a custom insurance solution as most will only go to a certain amount. One Dell Laptop I have is a mobile workstation, $14k was the total, when I was planning to travel with it, no one covered it to the whole value, I had to contact my normal insurance company and discuss "custom" solutions. In my house, I had to make sure they knew what was there in case of flood or fire. Anyone could buy an original lets say Tesla Video Card off the net now for like 500 bucks, but MSRP some websites still list as 20k each.......fraud would be rampant
[OP]
Sr. Member
May 22, 2012
924 posts
80 upvotes
MONTR
Techiedude wrote: I have 10k+ machines as well, monitors you name it, even a new Mac Pro that was over 25k+

You need "REAL" insurance for this....for travel, you need a custom insurance solution as most will only go to a certain amount. One Dell Laptop I have is a mobile workstation, $14k was the total, when I was planning to travel with it, no one covered it to the whole value, I had to contact my normal insurance company and discuss "custom" solutions. In my house, I had to make sure they knew what was there in case of flood or fire. Anyone could buy an original lets say Tesla Video Card off the net now for like 500 bucks, but MSRP some websites still list as 20k each.......fraud would be rampant
Thanks but can you have this kind of insurance if you don't have a permanent home? I am mostly concerned about malfunction. These CC extended warranties should cover for that outside manufacture's warranty right?
Deal Addict
Sep 24, 2018
1914 posts
1013 upvotes
To certain dollar values but if you’re talking 10k up, example a Rolex goes missing. They only cover some and warranty well they’ll possibly buy parts not replace with the latest
Sr. Member
Dec 12, 2007
702 posts
279 upvotes
Toronto
lachdanan wrote: Hi,

Is there any CC that beats RBC Cash Back World Elite MC?
https://www.rbcroyalbank.com/credit-car ... urance.pdf

They triple manufacturer's warranty up to 2 years.

What do you guys think about it?

Also in terms of extended warranty, say you had 1 year, plus 2 from the CC. Does that mean if you had an issue, you can go to any repair center, get a quote and if the quote exceeds the cost of the item or very close to it, they just reimburse you?

How can they know if the item is actually broken, i.e. a laptop? If it's indeed broken, finding a replacement motherboard could be very costly but how would they know if the quote is legit?

Nowadays laptops can get very pricey that's why I wanted to have a CC that can give me the best extended warranty.

Thanks a lot.

I think this card is good too but grandfathered

capital-one-aspire-cash-mastercard-worl ... m-1073421/

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