I'm sure this has happened to everyone: your favorite toy suddenly stops working unexpectedly and for no reason. This past Sunday I got into my car, pulled my GPS from its neat little carrying case that was sitting in my glove box, and turned it on. Nothing. Dead battery? Nope, absolutely nothing. Thankfully I knew where I was going that day. I had bought the device in December 2009 for $160 from Amazon.com. It came with a one year warranty from Garmin. So what do I do? Sunday night I call up American Express (I have the Blue Cash card), and file a claim, which takes about 5 minutes. Monday afternoon I get an email from them saying they are crediting my account $160. Tuesday I buy a new GPS with updated maps and features and I'm back in business by Thursday. This great service by American Express adds one year warranty to the manufacturer's warranty and it really is that easy. How much does it cost? Absolutely nothing. No annual fee, no service fee, no headaches, no hassles. And seeing that I always pay my balance in full, I don't even pay them interest. Yet it has probably saved me $700 in the 10 years I've had this card.
So, next time you buy something that might break, consider putting it on your Amex card (note: a few other cards also offer this service). They also offer some other cool perks such as 90 day theft/loss protection.