Extended Warranties

Extended Warranties.  You know those things you asked to purchase every time  you purchase an appliance, electronic equipment, or even a car.  Ever wonder why?

The fact is the retailer gets as much as 50% of the price you pay.  ALL PROFIT.

Do you really need it.  Most likely not.  The manufacturer’s warranty usually covers less time than they figure the item will last.  If something goes wrong it is generally during the manufacturer’s warranty period.  I usually divide the expected life of the purchase by the price I give.  I find, unless I do something stupid and break it, my extended warranty goes unused.

My first experience with extended warranties came many years ago,  (when they were something new).  I purchased a VCR from a well known outlet store.  They talked me into purchasing the EW, (extended warranty).  After 1 month it broke.  The manufacturer’s warranty was still in force.  Of Course.  But here is the kicker.  The store would not replace it.  Give me a loaner, or anything.  The extended warranty did not entitle me to anything.  It was another 3 months before I got my VCR back.  I had to make the payments for 3 months, without having the product.  A contract is a contract.  I live up to mine.

My second encounter was when I purchased my first Big Screen TV, about 11 years ago.  I still have that TV everything works fine.  Knock on wood.  The warranty went unused.  Another TV I purchased 16 years ago is still running just fine.  I did not purchase a warranty on this one.

It is up to you whether you purchase the extended warranty.  As for me I don’t have the money to donate.

That Is How I See It.

4 thoughts on “Extended Warranties”

  1. In the case of home insurance of course there may well be an excess typically the first 50 pounds and some exclusions as well. But having bought a nifty internet tablet, likely to be taken out and about a lot I felt that extended peace of mind was a real option, especially as it is of a size to be easily dropped, or stolen, dropped in my bath & etc. This product is the obvious solution, and appears to have very few exclusions. At about a316 a year its the sort of price I see as being sensible. Service so far has been professional and prompt. I’m not sure I’d take it out for a big TV etc, but for more at risk’ handheld devices it seems just the job. (Note that the period of cover here includes the first year of ownership, so that there is some overlap, although the lack of exclusions means extra security to other, more regular guarantees.)

  2. You never know..LED lighting tecgonlohy in televisions is relatively new. With that said no one KNOWS how long they will last no matter what they tell you. But I will tell you this buying a BTP at Best Buy is a great Idea. Because its a 55 they offer in home repair. Which is great .they will come out to your house to fix it! It covers alot, heat, humidity and dust damage are some of the small things. Surge protection is a biggie Pixilation, tuner damage, processor failure. Then theres the no-lemon law. If the same part has to be repaired three times or cannot be repaired after the first time. The television is simply replaced. Hope that helps P.s. if you dont use the protection plan in the 4 years (I believe it is 399 or 429 something like that) You can sell it back to Best buy so to speak to earn reward zone points!

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