An extended warranty is a service contract that provides additional coverage for a product beyond the standard warranty period. It typically covers repairs or replacements for specific issues that may arise after the manufacturer's warranty expires. This can be particularly useful for expensive items like electronics, appliances, or vehicles, as it helps protect against unexpected repair costs. Consumers can purchase extended warranties from manufacturers, retailers, or third-party providers. While they offer peace of mind, it's important to read the terms carefully, as coverage can vary significantly. Some plans may have deductibles or exclude certain types of damage, so understanding the details is crucial.