Top 12 Extended Warranty Companies in the World

The global extended warranty market size reached US$ 139.1 Billion in 2023. As per the analysis by IMARC Group, the top extended warranty companies focus on providing better customer service. The increasing complexity of consumer electronic products is significantly contributing to the demand for extended warranties. In line with this, the rising demand for protection against unexpected repair costs is positively influencing the market. The growing consumer awareness of the benefits of extended warranties is creating a positive outlook for the market. Furthermore, the escalating sale of high-value consumer electronic products, such as smartphones and laptops, is positively influencing the market. The increasing popularity of home appliances with advanced features and complex technology is offering lucrative opportunities for the market. Apart from this, the rising competition among manufacturers and retailers leading to extended warranty offers as a differentiating factor. Moreover, significant growth in online sales of consumer electronic products is offering more opportunities for extended warranty sales. The rapid adoption of wearables, smart home devices, and other connected devices and the emerging trend of consumers opting for longer-lasting and more durable products are propelling the market. Besides, the shifting preference for hassle-free repair services and replacement options and inflating disposable income and consumer spending on electronics are strengthening the market. Additionally, the increasing demand for extended warranties with additional coverage, such as accidental damage protection, is providing a boost to the market. The market value is expected to market to reach US$ 232.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.8% during 2024-2032.

Learn about opportunities, challenges, and trends in the global Extended Warranty market with IMARC’s market research report. Try a free sample today!

List of Top Companies Operating in the Extended Warranty Industry:

The global extended warranty market has several major players, including Allianz Assistance (Allianz SE), American International Group Inc., AmTrust Financial, Assurant Inc., Asurion LLC, Axa S.A., Carchex, CarShield LLC, Chubb, Edel Assurance LLP, Endurance Warranty Services LLC, and SquareTrade Inc. (The Allstate Corporation). More information about these companies has been provided below.

1. Allianz Assistance (Allianz SE)

Allianz Assistance (Allianz SE) is a European global financial service firm headquartered in Munich, Germany. Insurance and asset management are its two main activities.  The company is one of the largest insurance companies in the world, with operations in over 70 countries. It offers various insurance products and financial services, including property and casualty insurance, life and health insurance, asset management, and banking services. It serves individuals, small and medium-sized businesses, and large corporations.

2. American International Group Inc.

American International Group Inc. is a multinational finance and insurance company in over 80 countries and jurisdictions. AIG companies employs about 49,600 individuals. The company operates through three core corporations: General Insurance, Life & Retirement, and a standalone technology-enabled subsidiary. General Insurance comprises Commercial, Personal Insurance, U.S., and International field operations. Life & Retirement comprises Group Retirement, Individual Retirement, Life, and Institutional Markets.  The company offers various products and services, including property and casualty insurance, life insurance, retirement products, and asset management. It provides services to its customers in over 80 countries.

3. AmTrust Financial

AmTrust is recognized as one of the largest private companies in America by Forbes. It is a niche specialty property and casualty insurance company with about 6,000 employees worldwide. The company has grown to become an industry-leading insurance provider. It focuses on small business insurance solutions with an emphasis on workers’ compensation. A spirit of entrepreneurialism and innovation has defined the company. It provides property and casualty insurance products, including workers' compensation, commercial automobile, and general liability insurance, among others. It operates in over 50 countries and serves a diverse range of customers.

4. Assurant Inc.

Assurant Inc. is a multinational provider of risk management products and services with headquarters in New York City. The firm’s main operating components are Global Housing and Global Lifestyle. Its businesses provide a mix of specialty, niche-market insurance by-products in the property, casualty, extended device protection, and preneed insurance sectors. The company is dedicated to delivering high-quality insurance products and services to customers in over 80 countries.

5. Asurion LLC

Asurion LLC is a multinational technology solutions company founded in 1994 and headquartered in Nashville, Tennessee. The company provides device protection, tech support, and repair services for various electronic devices, including smartphones, tablets, computers, and appliances. It operates in 21 countries and partners with leading mobile carriers, retailers, and consumer electronics businesses. It offers mobile device insurance, extended warranties, roadside assistance, and data protection. to its customers.

6. Axa S.A.

Axa S.A. is a global insurance company in France that provides investment management and other financial services. It is a conglomerate of independently run businesses operated according to the laws and regulations of many countries. It operates at numerous locations across the globe, including Western Europe, North America, the Indian Pacific region, and the Middle East, with a presence also in Africa.

7. Carchex

CARCHEX is a Baltimore, Maryland-based company established in 1999 as a provider of pre-purchase automobile inspections. It provides extended auto warranties and Mobile Vehicle Inspections. Vehicle service contracts (VSCs), commonly called extended warranties, were added to CARCHEX's line of products in 2004. In 2007, the business increased the service as a warranty remarketing program run by dealership groupings like MileOne.

8. CarShield LLC

CarShield LLC was founded in 2005 and is headquartered in Saint Peters, Missouri. It is an American company that provides extended vehicle service contracts, commonly referred to as auto warranties to vehicle owners. The company plans to cover various vehicle components and potential repair costs, including engine, transmission, electrical, and air conditioning systems. It offers 24/7 roadside assistance and works with a network of certified repair facilities.

9. Chubb

Chubb is a global insurance company that provides its customers with various insurance products and services, including property and casualty insurance, reinsurance, personal accident and supplemental health insurance, and life insurance. It was founded in 1882, operates in over 50 countries, and has many clients ranging from multinational companies to small and medium-sized businesses. The company is famous for its underwriting expertise and customer service.

10. Edel Assurance LLP

Edel Assurance is a risk assurance company that provides comprehensive extended warranty coverage for Premium & Luxury Vehicles. It offers a range of financial and insurance-related services to its customers. It also offers other services like life, health, general, and wealth management. The company is dedicated to delivering excellent customer service. It is a reliable partner for individuals and companies seeking financial and insurance solutions in India.

11. Endurance Warranty Services LLC

Endurance Warranty Services LLC was founded in 2006 and is headquartered in Northbrook, Illinois. It is a US-based company known for its commitment to customer satisfaction, transparency, and innovation in the automotive service industry. It offers extended vehicle service contracts and other automotive protection plans. It also offers various vehicle service contracts that cover various components, including the engine, transmission, electrical system, air conditioning, and more.

12. SquareTrade Inc. (The Allstate Corporation)

SquareTrade Inc. was founded in 1999 and is headquartered in San Francisco's SoMa district. It is an American extended warranty service provider for consumer electronics and appliances. It was launched as the first online service for resolving e-commerce disputes. It provides consumer protection plans for portable devices, appliances, and other electronics online and through large retailers.

About Author: