Protection plans are services offered by companies to safeguard products against damage, theft, or malfunction. These plans often cover repairs, replacements, or maintenance for items like electronics, appliances, and vehicles. Customers typically pay a fee for these plans, which can provide peace of mind and financial security. Many protection plans come with specific terms and conditions, detailing what is covered and any exclusions. For example, a warranty may cover mechanical failures, while a home insurance policy might protect against natural disasters. Understanding the details of a protection plan helps consumers make informed decisions about their purchases.