Two offers can carry the same terms on paper and still differ in who must pay when a claim is due. Before you judge the features, find the party that is obligated to pay, and check what happens to that obligation if the seller stops operating.
Separate the seller from the obligor
The seller is the business that sold you the contract. The obligor is the party that owes the covered repair or payment under the contract. Often they are different, and a contract may name an administrator that handles claims for an obligor you have never dealt with. Compare the name on the sales paper with the name in the contract's obligation clause. If they do not match, find out why before you sign.
Ask what happens if the seller stops
Ask in writing what becomes of open claims and of the unused part of the term if the seller closes, changes hands, or loses its right to sell. Ask who will handle a claim after that point. The answers belong in the contract or in a document the contract names. A reply that depends on the seller staying in business has not answered the question.
Check the backing the state requires
Some states require contract sellers or obligors to meet a backing rule, such as a form of insurance or a reserve. The state page on this site names the regulator and the statute that govern contracts in that state. Read the statute the page cites for any backing requirement, and ask the seller which arrangement it uses. This edition has not read the backing terms of any individual seller.
Questions to ask before you compare anything else
Who is the obligor by name? Is it the same party that sold the contract? Who administers claims, and where do you call? What happens to open claims if you cancel or the seller closes? Which regulator takes a complaint about this contract? Keep the answers beside the offer, and compare the features only after the answers are in hand.