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Guitar Center Protection Plan...worth it? experience?

Discussion in 'Amps and Cabs [BG]' started by loveandbass, Jan 10, 2017.


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  1. Got a used relatively old head thats discontinued from GC in mind and their protection plan would add another 50 bucks to the cost for 2 years service. Anyone have experience with one of these plans?

    Thanks
     
  2. markoc

    markoc

    Jan 6, 2014
    North San Diego
    In most cases I think they are a waste of money. However in this situation, I think it is probably worth it. If you're buying a bass or cab, most warranty situations will present themselves pretty quickly, not necessarily with electronics.
     
    Munjibunga and loveandbass like this.
  3. buldog5151bass

    buldog5151bass Kibble, milkbones, and P Basses. And redheads.

    Oct 22, 2003
    Connecticut
    These things are offered as almost pure profit.
     
  4. An old head that still pumps is very likely to still pump two years from now. GC know this, and they want your $50.
     
  5. Yep thanks

    true...but one trip to the shop is double that no matter what and fixing amps is above my pay grade.

    I would never get one for a cab or bass but for an old hybrid head im on the fence.
     
    Munjibunga likes this.
  6. aaronious

    aaronious Supporting Member

    May 23, 2011
    Denver CO
    I washed a snark in my pocket. The warranty covered it.
    I saw a guy who dropped his Gibson. Off comes the head stock. The warranty covered it. They definitely take care of you if something goes wrong. FWIW

    Full disclosure........I work at GC.
     
    jebmd and loveandbass like this.
  7. on a piece of somewhat old used gear what do they do if they cant find that same thing to replace it with?
     
  8. blubass

    blubass

    Aug 3, 2007
    Modesto Ca
    Current: Blackstar, DR strings, Nady. Previous endorsements with: GK, Rotosound, Ernie Ball, Cleartone, EMG, Dean, Dava Picks, Rebel Straps, Dickies
    Also, who is repairing your amp to begin with, and what kind of work do they do?

    I had a Squier P bass when I first started. I purchased a Badass II bridge and had GC's outsourced tech install it. Stopped playing it because the bridge was lifting a bit and I didn't know anything at the time. 10 years later when I went to refinish the bass as a wall decoration, I found the tech had broke off two mounting screw heads, then used super glue to hold them in place.

    I find my own reputable techs now.

    A lot of used gear leads a hard life. If it's still working, it's probably a testament to their ruggedness and reliability. I never took rough gear in when I worked at GC, but some of the stuff was downright impressive that it even turned on, much less worked well.
     
  9. pcake

    pcake Supporting Member

    Sep 20, 2011
    Los Angeleez
    for a used head, i'd probably go for it.

    in most other cases, i wouldn't bother with it. for those who aren't always careful, though, i might recommend it as i know two guys who demolished their acoustic guitars and the GC plan paid out for them.
     

  10. this is an excellent point. thank you.
     
    pcake likes this.
  11. aaronious

    aaronious Supporting Member

    May 23, 2011
    Denver CO
    Give you your money back so you can get else.
     
  12. fdeck

    fdeck Supporting Member Commercial User

    Mar 20, 2004
    Madison WI
    HPF Technology LLC
    How much is the amp worth, all told?

    I'm not a financial advisor, and this is just my own personal approach. I'd skip it, and take the risk. I've never bought a protection plan on any consumer item. The amount of money that I've saved by now is probably many thousands of dollars, especially if you include my cars.

    Insurance makes sense if the potential loss could literally sink you. For instance, if you get hit with a huge liability in a car accident, your house burns down before you accumulate any equity, or you have a catastrophic medical emergency, your entire net worth might not cover the loss.

    Insurance doesn't make sense if you can afford to cover the loss out-of-pocket. It might make sense if you have to borrow money to finance tools for a trade.

    But if you're too poor to cover the risk of maintaining an amp, then you probably can't really afford the amp at all.

    If the amp is unreliable enough to justify a protection plan worthwhile, I wouldn't want to use it. If you're accident-prone with your gear, solve that problem by taking care of your gear.
     
  13. Al Kraft

    Al Kraft Supporting Member

    May 2, 2016
    Northern Virginia
    Insurance is a decision that almost makes itself in many cases when you look at exactly as fdeck suggested. In the simplest terms, it's a transference of risk for fee. When it's reasonable and I can handle the potential down side, I like to self insure.

    You may have noticed that even in years when there are incredible natural disasters, insurance companies always seem to post a profit. My experience is that when someone is willing to sell you cheap, add-on insurance, the risk to them is very low. Taking advantage of that low risk and skipping the insurance will almost always be a good financial decision over the long run. YMMV!
     
  14. All great replies. I think im going to skip it. These amps have pretty good reps for reliability. I was a bit concerned due to its age (20ish years) but for a used item to make it that long, id say its reliable...and tested as working ok if GC brought it in. Thanks yall....

    New Amp Day thread imminent...
     
    tlite likes this.
  15. fdeck

    fdeck Supporting Member Commercial User

    Mar 20, 2004
    Madison WI
    HPF Technology LLC
    There can be a couple ways for insurance companies to post profits during disaster years. First, a higher incidence of one kind of disaster could be balanced against a lower incidence for another, and the insurance companies pool their risks through re-insurance:

    Reinsurance - Wikipedia

    Second, insurance companies invest the money collected from premiums, and the profits from those investments may outweigh the payment of claims during a given year.
     
    Al Kraft likes this.
  16. Or drag their collective feet for several years on paying out. Christchurch City settled for a fraction of what they were owed to fix infrastructure rarher than go to court.
     
  17. Al Kraft

    Al Kraft Supporting Member

    May 2, 2016
    Northern Virginia
    ...and if you look at the Berkshire Hathaway portfolio it's obvious how Warren Buffet does exactly what you said. In fact they own companies that provide building materials, flooring and furniture, as well as some railroads that would move he merchandise if their insurance assets have to pay out for large natural disasters. Warren Buffet covers his bets multiple ways! :thumbsup:
     
  18. fdeck

    fdeck Supporting Member Commercial User

    Mar 20, 2004
    Madison WI
    HPF Technology LLC
    That's one aspect of insurance that could alter the economics somewhat: It's cheaper for the insurance company to cover your loss than for you to cover it yourself, because the insurance company pays wholesale for the labor and materials.

    Another example along the same lines is that the car insurance companies have their own body shops, or they work out deals with body shops.

    Still, my guess as to the profit margin on a consumer coverage plan suggests that I probably still come out ahead by waiving those plans.
     
    Al Kraft likes this.
  19. Al Kraft

    Al Kraft Supporting Member

    May 2, 2016
    Northern Virginia
    Averaged out over time, I agree 100%!
     
  20. mrufino1

    mrufino1 Supporting Member

    Aug 2, 2005
    Nutley, NJ
    I bought a used ampeg pf350 at GC 3 weeks ago and almost bought the $25 insurance, but didn't because I don't usually buy those plans. Then, when I got home, I plugged in 2 cabinets and discovered I had one of the ones that didn't like 4ohm loads. I took it back to GC last week and got a full refund. When I explained the issue they weren't interested at all, just gave me my money. They'll sell it to someone else. I bought a streamliner 900 instead and its awesome.
     

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