Amazon now sells its own-brand product protection insurance

Amazon is offering some shoppers “peace of mind” with a new own-brand insurance product to protect against damage and theft.

With Amazon Protect, the Internet giant lets you add to the manufacturer’s existing guarantee, which typically only lasts two years. When buying appliances such as washing machines, mobile phones, tablets, TVs, kitchen appliances, and more, shoppers will now be asked if they want to add Amazon Protect coverage to their shopping basket at the checkout. It’s similar to what the company already offers with third-party providers. In partnership with third-party provider Warranty Group, Amazon Protect comes replete with Amazon branding. It also promises more extensive coverage, including additional replacement options and coverage for accidental damage.

Amazon Protect is launching in the U.K. only for now it seems, and when probed by VentureBeat on whether it would arrive in other markets, a spokesperson said, “We never comment on our future plans.”

Above: Amazon Protect

In terms of pricing, it seems to vary in accordance with the value of the product, as you would expect. For example, for a £129 ($185) TV, Amazon Protect will cost £33.25 ($48) for five-year protection or £28.75 ($41.50) for four-year protection. For a £460 ($660) TV, it will cost £76 ($110) and £66 ($95) respectively.

While Amazon began as an online book retailer, it has long spread its wings into countless product categories. Naturally, an insurance product such as Amazon Protect really only makes sense with higher-value products, and looking at a £50 ($72) Android phone reveals that insurance isn’t provided on all products.

Amazon’s new service promises “next business day” replacement for mobile phones, repairs, and free delivery on products to replace broken goods, and will also arrange for repairs to take place at the buyer’s home for bigger items such as dishwashers or TVs. If a repair isn’t possible or doesn’t make financial sense, a customer may be offered a replacement product or gift card.