News Room

October 29, 2007

Extended Service Plans Can Add Value, Increase Enjoyment When Consumers Understand the Plan They Are Offered

ATLANTA: The holidays are the peak-selling season for TVs, appliances, personal computers and other consumer electronics. They also are the time of year when many consumers will decide whether to buy an extended warranty or service plan to protect their purchases.

“If you are buying a $4,000 TV, a PC or a major appliance, it is quite likely that you have done some research and comparison shopping,” said Joe Erdeman, president of Assurant Solutions’ extended protection solutions business. “But the decision to purchase an extended service plan can be a spur-of-the-moment thing, often made without asking some key questions about the plan being offered.”

Assurant Solutions, part of Assurant, Inc. (NYSE:AIZ), provides service plans through more than 10,000 retail stores in the United States. Its programs cover a wide range of products, including home appliances, consumer electronics, fitness equipment, furniture, jewelry, lawn and garden equipment, personal computers and wireless and mobile devices.

“As consumers, we are grateful for the technology that has become such a large part of our lives,” Erdeman said. “But when something breaks, most of us have neither the know-how nor the time to fix it ourselves. A service plan is a way that consumers can assure that they will get the most use and enjoyment from their big-ticket purchases.”

Assurant Solutions recommends considering the following when deciding whether to purchase an extended warranty or service plan:

• What is the cost of a typical repair to this product, versus the cost of the plan, and could I afford to pay the repair cost out-of-pocket?
• If the product can’t be repaired, am I prepared to replace it?
• Where would I go for reliable repairs?
• How will I use my product? (Portable items have a higher propensity for damage.)
• How long can I afford to be without the use of the product?
• How long do I plan to use the product?

Assurant Solutions also recommends that consumers carefully review the terms and conditions of a service plan contact.

• Does the plan provide toll-free telephone and/or online access to technical support?
• What is covered?
• When do the benefits begin?
• Who pays for shipping and handling if a product must be returned?
• Does the plan include a “no lemon” policy? Will unrepairable products be replaced?
• If this is a gift, is the plan transferable?
• Does the plan provide for in-home service?
• Does the plan include accidental damage coverage?

“One thing that we have learned in this business is that there is no ‘one-size-fits-all’ service plan,” Erdeman said. “Terms and benefits vary by product and the retailers through which plans are sold. If you decide to buy a service plan, makes sure that the plan addresses your specific needs.”

For more information about extended service plans offered by Assurant Solutions, go to http://www.assurantsolutions.com/extendedprotection/.

About Assurant Solutions

Assurant Solutions businesses develop, underwrite, market and administer specialty insurance, extended service contracts and other risk management solutions through collaborative relationships with leading financial institutions, retailers, automobile dealers, funeral homes, utilities and other entities. With operations in 23 cities, including executive offices in Atlanta, Ga., Assurant Solutions serves clients and their customers in 11 countries throughout North America, the Caribbean, Latin America and Europe. www.assurantsolutions.com

Assurant Solutions is part of Assurant, a premier provider of specialized insurance products and related services in North American and selected international markets. Assurant, a Fortune 500 company and a member of the S&P 500, is traded on the New York Stock Exchange under the symbol AIZ. Assurant has over $25 billion in assets and $7 billion in annual revenue. www.assurant.com

Media Contact:

James A. Sykes
Director, External Communications
Telephone: 770.763.1015
E-mail: james.sykes@assurant.com