Hearing Aid Extended Warranties – Risk or reward?

Posted by Alex on November 10, 2010 under Hearing Aids, Product Reviews | 2 Comments to Read

Truth be told, I have never been a believer in extended warranties.  If you ask the so-called experts, most will advise you to avoid them at all costs as a waste of money.  When it comes to hearing aids, I make an exception.  All too often, I have seen costly repairs and worse lost or damaged hearing aids that are expensive to replace. It is not cut and dry though.  Extended warranty coverage for hearing aids is not necessary for all hearing aid users.  So, how do you know?  Does it make sense for you to invest in this protection?  I have adapted a 7-question guide of things to consider before purchasing an extended warranty and help you decide when if this coverage is for you.

Question 1:  Are you buying a high-reliability product?

There’s a big difference in product reliability rates.  Believe it or not, the style of your hearing aid has a lot to do with the frequency of repair.  Why, you ask? Hearing aids are some of the most miniature, complex, and fragile devices.  They are constantly subject to environmental wear and tear, in addition to heat, moisture, and the ever constant battle with wax.  Thus, as a general rule, the smaller the aid and the further in your ear canal the electronics are seated, the higher the rate of repair.  Thus, the average rates for different styles of hearing aids are:

• CIC (completely-in-the-canal) – every 7-9 mos.
• ITC (In-the-canal) – every 9-12 mos.
• ITE (In-the-ear) – every 12-15 mos.
• BTE (Behind-the-ear) – negligible, lowest repair rate of all styles

(Hearing Aid Repair Rates, Michael Block, 2001)

The question becomes, how much risk are you willing to live with?

Question 2:  Is the person using the hearing aid likely to be careless, forgetful, or treat it in a rough manner?

To pick up where I left off before about how hearing aids are the most miniaturized, technological devices…very simply, they don’t stand a chance of survival when they’re in the hands of a klutz.  Even the biggest of hearing aids is a small device.  They can be easily, lost or misplaced.  If you have protection against such instances, you will be able to use the hearing aids without worry.

Question 3:  Is the cost to replace or repair the product less than the cost of the extended warranty?

Consider these estimates:

• Cost to repair a digital hearing aid: $189 to $230.
• Cost to replace a digital hearing aid: $1600 (US avg/aid)
• Cost of a !-year extended warranty:   $200 (HearUSA cost/unit)

At HearUSA, we offer extended warranties for up to two additional years after the manufacturer’s original one-year warranty.  This includes coverage for repair, as well as a one-time loss.  There is a deductible in the event of loss – typically $450…but for less than the cost of one repair, your warranty will have paid for itself.

Question 4:  Does the cost of the extended warranty exceed 20% of the product’s purchase price?

This is a nobrainer!  See the above estimated expenses.

Question 5:  What is exactly is covered under the extended warranty?

Read the contract.  Extended warranties can be different from every hearing provider.  Check to see if the protection is for repair, loss, damage, and if there are deductibles.

Question 6:  Do I already have coverage?

Most new hearing aids come with a standard one-year manufacturer guarantee at the initial purchase.  It is possible if you had an insurance discount or other provider program (such as the AARP Hearing Discount Program from HearUSA) that you already have extended coverage.  For instance, members of the AARP program, already receive with every new hearing aid purchase a full 3-year repair, 3-year loss, and 3-year supply of batteries automatically.

Question 7:  Is my hearing aid indispensable?

How do you replace irreplaceable?  Fact:  We know that hearing aids improve not only the quality of life for the person with hearing loss, but also for those around this person.  We know that hearing aids can truly make a difference socially, physically, mentally and emotionally when used and working in the optimal condition.  I believe that if you are willing to make the decision to get help for your hearing, you owe it to yourself to make sure you invest in the best protection and reliability available.  You owe it to your ears!