Yet what the buyer doesn’t see is that competing policies often are underwritten by the same insurance carriers — so the crucial differentiator is price. Upsie, for instance, said it offers coverage similar or identical to that offered in retail outlets during the purchase of electronic devices, but typically at a far lower cost.
Consumers often feel blindsided when they are paying for a computer or other electronic device, and they’re pressured at the checkout counter to purchase an extended warranty, said Upsie CEO Clarence Bethea.
Such consumers would rather go home, carefully weigh accidental-coverage options and purchase plans when they feel ready, Bethea said. That’s the kind of service Upsie and its rivals, like SquareTrade, provide.
Upsie, a Minneapolis-based startup, has entered this space and is jostling for market share with rivals such as SquareTrade, electronics retailers, wireless carriers, computer makers and others — all pushing their own device-damage warranties.
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