Five tips to keep in mind for Black Friday shopping

If you plan to get a good deal on a new TV, fitness tracker or air fryer at the Black Friday sales this November, you are not alone.

However, it is important to keep a few things in mind when you start shopping, Ernest North, co-founder of naked.insure, says.

He has these smart tips for protecting your investment in that new appliance or gadget you plan to buy on Black Friday:

#1: Ask about the warranty

If you saved up all year for a new couch or washing machine, you want to know you will get years of good use out of it. Check the manufacturer’s warranty, which should offer some protection if the product has a manufacturing defect.

Warranties typically range from two years for electronics to five, 10, or even more years for large appliances and furniture. If you encounter a manufacturing fault while your product is under warranty, the item should be repaired or replaced.

You also have a six months’ implied warranty according to the Consumer Protection Act.

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#2: Think beyond the bargain

Warranties do not cover unforeseen incidents like accidents, fires or theft. This is where insurance fills the gap, North says. “By insuring that new laptop, for instance, you will be able to claim if it gets stolen during a home robbery. Therefore, add insurance to your shopping checklist, because with just a bit of planning, you can shield your new device or appliance from life’s ‘what ifs’ to ensure your bargain stays a bargain.”

He says whether you buy in-store or online, you can add items to an existing home contents policy or choose standalone insurance for immediate peace of mind. High-value items that leave the home, like laptops or bikes, may need individual cover for full protection.

“Digital insurers make it easy to add new items to your existing home contents cover or to get a quote and buy standalone insurance online at any time and from anywhere.”

#3: Get it covered as soon as you take possession

Remember to add valuable items to your policy or buy standalone insurance as soon as you take ownership, North says.

For home deliveries you should activate insurance for your new purchase from the delivery date. Retailers typically insure items against damage or theft during transit.

If you fetch the item yourself, items like a fridge are typically only covered for up to R5 000 or about 20% of your coverage. Having the store deliver might provide more protection for fragile or expensive items.

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#4: Insure for the full value, not the discounted price

It is important to insure an item for its replacement value, rather than its discounted price. North says this ensures you will receive full value if something unexpected happens. “This means you will not have to compromise on quality should you need to replace it.”

#5: Keep track of receipts and other documents

Keeping digital copies of receipts and warranties can make it easier to claim insurance or warranty benefits if something goes wrong.

North says you can photograph receipts or store them in a secure app. “These can be useful for insurance claims and product warranty support.”