If you change your mind after purchasing an extended warranty, you do have rights to cancel.
Here we explain what your options are.
Refund rights with extended warranties
The warranty is a contract between you and the warranty provider.
For warranties with a duration of more than a year, the Supply of Extended Warranties on Domestic Electrical Goods Order gives consumers 45 days to cancel.
As long as no claim has been made on the extended warranty, you should get a full refund.
If more than 45 days have passed, the Regulations still allow you to cancel and get a pro-rata refund of the cost of the warranty, unless the warranty contained a term that said the warranty would come to an end on making a claim.
Refunds on extended warranties
Where a refund is due, no deductions should be made from the warranty.
For example, you shouldn't try to recoup a discount that was given on the goods in return for taking out the warranty.
And, you shouldn't be given a refund in the form of vouchers (except if you paid or part-paid for the item with vouchers).
Buying extended warranties online
These cancellation rights don't apply to a warranty bought at a distance - such as online.
The Financial Services (Distance Marketing) Regulations 2004 already provide a 14-day cancellation right in these circumstances.