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Discussion in 'Off Topic [BG]' started by ZenG, Jul 24, 2016.
Or any purchase for that matter...?
Nobody does this.
Its a hustle like a car dealer selling you floor mats.
Just once...and it paid off.
(POS Samsung refrigerator from Lowe's).
In spite of that, I agree with the previous guys.
That said, I do keep the appliance insurance for the house in-effect.
$400/year. Pretty much pays for itself & it offers some piece of mind as a bonus.
And the reason is....
The failure pattern for nearly all products is 'U' shaped. That is, they either fail early on (manufacturer defects) or after some years of use. The regular warranty covers the first part of the failure curve, so you're covered for initial defects. The problem with extended warranties is that they extend the coverage to the part of the curve that is the lowest, i.e. the least likely time for there to be a problem.
Normally no. I did buy it with a used Ampeg PF head I bought at guitar center. When I had problems with the head all I had to do was call and they refunded the purchase price and I didn't even have to send them the bum head. So it did pay off in that scenario.
Never in over 3 decades of having them offered to me, with one exception.
Bought a set of top shelf washer and dryer with all the new (meaning unproven) electronics, etc. Got such a deep discount, I splurged for the extended warranty.
It paid off, both took a dump after original warranty + 9 months, would have paid more for the service calls than going out and buying new.
FWIW, I spent a lot of formative years in retail, and yes, extened warranties are pushed for a reason. They are pure profit. 3rd party almost always service the contract if needed.
Depends on the product for me, and a few other variables. The variables could be the cost to buy new, how long I think I'll keep it, how much I know about fixing it myself.
Washer and clothes dryer, yes. A tv or computer, no. Fridge, yes. Power tools, no.
No thank you.
Abso-fricken-lutley! I happen to be a shutterbug with some semi-expensive camera gear and an extra 25 bucks or so to get three years protection (drops, water damage, etc) on cameras is a no brainer.
Apple care was $250 for my laptop. Still worth it, it's insurance if the unthinkable happens.
Insurance on my new smartphone $10/month, worth it too, a buddy of mine had his iphone go bonkers just out of warranty, and then his son dropped his in the bathtub. Neither covered, they'll still be paying for those for the next year and a half, ouch!
For most other lower priced stuff i don't.
The iPhone insurance thing is a bunch of nonsense, at least from Verizon. They use a third-party company. You have to pay 150 bucks to get a new phone. Your new phone isn't even a new phone. It's someone else's broken phone that was refurbished which in a lot of cases just means a new screen, which isn't even an OEM screen and probably hasn't been installed correctly. It's battery might have half its life left in recharges. Who knows what else might've happened to it. Breaking your phone sucks but all it takes is some vigilance and you won't have that problem. You're better off paying a little electronics shop to repair it, or sell it broken (you can still get a decent amount of money) and buy something used online.
The big print giveth, the fine print taketh away. Looks like I got a $150 deductible too, and a "certified or reburshished" replacement. After some thought not worth it on the cell phone.
Nope, and I heard a comedian (I forget who) say it best, if I need the extended warranty because it's going to break I don't want.