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The House always wins
by ezsurfer - 12/5/07 7:27 PM In reply to: Extended Warranty.........are they worth it???? by jraggieA close friend is the IT head for a major player in this field. She never purchases an extended warranty. Why? simply put, the compnay selling these warranties has very extensive databases of technologies and breakdown ratios. They are set to make a profit, from peoples fear of that "outside the normal" event.
So, it is very similar to betting in Vegas against the house. Sure, you can win, and sometimes big. But overall, that money goes to make big pockets even bigger, as a whole, consumers lose.
Extended Warranty
by sterndb - 12/5/07 7:30 PM In reply to: Extended Warranty.........are they worth it???? by jraggieApplecare for Ipod and Macbook Pro is the best investment you can make. The Genius Bar has serviced every Ipod my family has owned. Anytime something goes wrong they are there to replace it. The Macbook Pro service has also been excellent. Aside from the yearly tune-up, they are there to replace, usually without question, things like the optical drive or the battery. Appointments are made on line, and service is done at the Apple Stores, which in New York is very convenient. Waiting time is usually at a minimum, and you are usually in and out in less than one half hour. I have been more than satisfied with Apple's service and have found this to be a good if not great investment for these products.
Yes in many cases they are worth it!
by silverheart - 12/5/07 7:30 PM In reply to: Extended Warranty.........are they worth it???? by jraggieI am one of those very people that you spoke of who do offer the warrenties on products when customers make a purchse. I offer them because I do see a value in them. Maybe I should not mention retailers but Office Depot and Staples both have what they call a "replacement warrentee" I offer them on printers every chance I get! Basically it is purchase price back when it breaks on the second or third year. I have been in this industry for about four years now and litterally see consumers using their gift cards to purchase new printers all the time. If you buy the warrenty on nothing else get it on your printers.
Extende warranties
by hran - 12/5/07 7:31 PM In reply to: Extended Warranty.........are they worth it???? by jraggieI always recommended NOT buying extended warranties - they are almost PURE profit for the sellers. But often these are backed by a third party. In four cases, my purchase was WELL justified!
Years ago, I was driving my 1986 Ford Escort GT on the highway, when I saw a fan belt go tumbling away in front of me - and all my engine warning lights went on. I took the car to a dealer and found out that the alternator housing had cracked, the bearings had seized up, and the serpentine belt had melted through. When the Service Manager brought me the bill for almost $300, I remember how his face fell when I said, "Oh, but I have an extended warranty". When he brought me back an invoice with $0 on the bottom line (and looked really pissed off!) I was very happy with my purchase!
More recently, we bought a Frigidaire MONSTER sized refrigerator and got the extended warranty cheap as I got the employee discount. 2 years later we went through a series of FOUR repairs to the ice maker ending in a full replacement of the logic board - at NO charge.
I also had a Sony A/V receiver replaced at no charge, and a Samsung LCD monitor replaced at NO charge.
Rip-off? I used to think so, but if the price is resonable, I'll take the extended warranty now!
Extended Warranties
by speedy11309 - 12/5/07 7:32 PM In reply to: Extended Warranty.........are they worth it???? by jraggieI just recently left a job working at Best Buy as a "customer specialist" in the computers department. I must say that extended warranties on desktops or monitors aren't the most wise purchase in the world. I do, however, think that purchasing the extended warranty on a laptop from Best Buy is definitely worth the money. With Best Buys warranties, all of the 2 and 3 year accidental or non-accidental warranties, you get a free battery with it. Batteries for laptops are not cheap as most people know. Even the cheapest warranty, which depends on how much the laptop costs, still comes with a free battery. The cost of the battery alone is usually more than the warranty so that right there is a good deal.
The thing with the free battery, however, is that it has to "not be holding a charge" anymore. You can claim that it is not doing this after 6 months. The good thing, however, is they don't check if what you say is true because they don't know how long the battery lasted for when it was new so they just have to give you a new battery when you claim this.
Also, with the warranties, if Best Buy cannot fix your laptop, they have to give you a brand new laptop. Whats nice about this is that if they don't have that laptop anymore, they will give you a laptop that is the same price. As we know, technology changes quite quickly and you're going to get a better computer than what you had.
Obviously people could take advantage of knowing that and having an accidental warranty. Especially if they have the 3 year warranty and their computer is completely outdated. *wink wink*
Also, with the warranties, parts and labor are free, and hardware diagnostics by geek squad is free.
Actually everything that I just wrote is what I used to tell customers. I do actually think the extended warranty on laptops from Best Buy is worth it. Hopefully I will be buying a new laptop within the next few months and if I buy a laptop from Best Buy, I will buy some sort of warranty just for the free battery.
Maybe yes & maybe no
by paulnrx - 12/5/07 7:33 PM In reply to: Extended Warranty.........are they worth it???? by jraggieI typically do not buy extended warranties. However that being said the ones I have bought into have worked out pretty well. My Sony KDS R50XBR1 50" TV needed service after 1yr 4months. A new bulb & light engine assembly according to the tech that came by the house would have set me back about $1000. Wow ! Covered my expenses & then some and I still got 3+ years on the warrantee. Thank you C.C. for selling me this. The tech said he goes through about 20 bulbs & 6 light engine per week (wonder if ne meant per month) He felt all projection TV's (DLP, LCOS, etc) suffer from the same problems (bulbs & light engines) Still sounds like a lot of breakdowns. Think my next TV might be a new LCD in the future after the warrantee expires. Since this is a AV forum I won't mention my 1yr 6month Amana refrigerator from Sears w/extended warrantee. Saved me $700 for a new compressor. Or my reconditioned Brother laser/fax from Comp USA which they refunded the full amount after the 3rd attemped fix. Sweet. After all these issues I still will be very judicious in the purchase of extended warranteees. Hmmmm...I need a new stove. If it is one of those high tech electronic controlled ones I might buy an extended warrantee. Everything seems to have IC chips in them now days. I wish stuff would just work sometimes...Ya know ?
Extended warranties Rock!!
by MMH - 12/5/07 7:35 PM In reply to: Extended Warranty.........are they worth it???? by jraggie1st notebook, developed blue line on screen, Staples warranty replaced it with brand new one. (Purchased used from them originally)
Another hp notebook, extended warranty from Staples, tech repair center couldn't repair it, replaced with new one, I only paid for the extra features I wanted. (Notebook was over 2 1/2 years old.
Another hp notebook, extended warranty from Staples, near the end of the year, I needed new battery, wouldn't do it, cancled warranty fro complete refund, pur hp warranty, refunded ALL of my charges, incl. warranty cost after 3 years, purchased brand new Premimum hp notebook
It depends on who you are and your ability to fix things....
by chkstar00 - 12/5/07 7:38 PM In reply to: Extended Warranty.........are they worth it???? by jraggieIf you are buying a computer and you are NOT technically savvy, you should invest in the Service and Support plan. Manufacturers often have Limited One Year Warrantees and you could wind up paying out of your pocket for repairs or support... If you can repair your OWN computer, you have to ask yourself, how much is the Extended Warantee and how much is the Cost of Replacing things that usually fail... If your computer is an ALL-IN-ONE (Like a Sony or some HP units) you are going to want to repair this unit, because you lose the Monitor as well as the CPU. In the case of LAPTOPS, its Usually a good idea to get an extended warantee if you are buying a higher priced unit. Laptops will last LONGER than desktops, as they become Obsolete only when they no longer can provide the TASK you purchased them for in the first place. So, since a Laptop will be with you for at LEAST 3 years, there is a chance for a Hard Drive Failure. On some laptops its easy to replace the drive and on others its a real challange.. Do your homework. Again, it depends on who you are. A Laptop repair out of warantee is gonna be an expensive ordeal... Other Products, well, a rule of thumb I usually use is if the cost of a 3 year Service/Replacment Plan is more than 33% of the cost of the item, I don't buy them... If its 20% or less, its a good gamble on a complex item, one that is not obsoleted in 2 years... So, if its on that MP3 Player, I am probably gonna buy a NEWER Model after a year or so anyhow....
So, it depends on who you are and how much it costs...
yes no maybe. Never again for me!
by Majorrich - 12/5/07 7:41 PM In reply to: Extended Warranty.........are they worth it???? by jraggieI gave in and purchased a Square Trade extended warranty because I was buying an older laptop. When I called with a claim for a broken hinge that guillotined the video cable, they cancelled my policy without even so much as a 'nice screwing you: screw you next time' Well, you can bank on I shall never allow myself to get into that position again. Heck I didn't even get a reach around!
wile e coyote
Positive experience with extended warranties...
by msriflegirl - 12/5/07 7:42 PM In reply to: Extended Warranty.........are they worth it???? by jraggieI recently had a positive experience with an extended warranty. I purchased a laptop about 3 years ago and opted to pay the extra $200 for an extended warranty. While I owned it, I had to send it to the manufacturer once and I had to carry it in to the store to be repaired 4 separate times. Per the no lemon policy offered by the store, I had it replaced a few days ago. Without having to pay a dime, I got twice the computer I had before, another 3 year warranty (with accidental protection) and a store credit for the difference between what I originally paid and the merchandise/services I got upon replacement. These extended warranties offered by retail stores get a lot of bad press, but I have become a believer in them. I think they are worthwhile (especially if you are able to get some sort of accidental protection) for high dollar items such as computers and TV's. It's like purchasing car insurance...you may rarely if ever need to use it (all the while feeling as if you are throwing away money), but when the time comes to use it, having it can make a big difference in how much money has to come out of your pocket when its all said and done.
Everyone is missing the obvious!
by JohnnyBee - 12/5/07 7:44 PM In reply to: Extended Warranty.........are they worth it???? by jraggieLook at it this way: Can you really afford to buy extended warantees on everything electronic and or mechanical device that you buy? If you can, what is the likelihood that you will ever have enough claims on all of those items to ever break even on those costs? Slim to none. It's a perfect example of buying so much insurance (warantees) that you become "insurance poor". If you can't afford all of the warantees, how will you pick which items will fail to make any extended warantee purchase worth while? You got a crystal ball? NO! Enough said!
companys honored because I had purchased them.
by jcschuessler - 12/5/07 7:47 PM In reply to: Extended Warranty.........are they worth it???? by jraggieI have purchased them and used it for a desktop and laptop at different times and with different companies. Was given an upgrade with desktop by company bought desktop from because extended warrenty company wentout of business. The other company ended up on laptop honoring warrantying laptop had 3 year warranty. In 2 years had in shop 3 times for same video complaint so after third time used Texas Lemon Law and received new Laptop at no cost.
Not worth paying for
by stony2007 - 12/5/07 7:47 PM In reply to: Extended Warranty.........are they worth it???? by jraggiefwiw, if you purchase with a credit card, you probably already have extended protection. Most, if not all of the major credit cards now include replacement insurance in the case of theft or breakage. Check your card terms; if yours does not have this coverage, switch credit cards. What with all the competition between credit card providers, you have plenty to choose from.
just proves how ignorance makes fools of so many
by johnnyincentx - 12/5/07 7:51 PM In reply to: Extended Warranty.........are they worth it???? by jraggieI don't buy them, never have, never well, and I've purchased computers, for music production Etc.
Considering how quickly electronic merchandise becomes obsolete, and considering how the "downward" trend in pricing still seems to be present, why would I buy a warranty that costs a fair fraction of a new item a couple of years out.
More specifically. If I really did happen to buy a computer that went kablooy at 3yrs. old, do I really want it repaired, considering how the technology has improved.
The notion that they cover all sorts of mishaps, like dropping or losing them - well that depends on the policy. That's not a given.
For a cell phone where losing one can be quite easy, it makes sense,
I have better things to spend my money on than paying for the oppty to cover a manufacturer's butt and buy insurance to cover whatever may happen, but mostly to cover merchandise that is supposed to continue working as long as it's not abused, but somehow breaks or ceases to function regardless.
They are NOT cheap anymore.
It's funny how people will moan and groan about paying tax on something, even though those taxes pay for a host of services as a society, but think nothing even smile when they are "offered" the oppty to cover a manufacturer's poor workmanship.
Hey maybe that's what the Gov't. should do, instead of calling taxes - taxes, they should start making it optional "in case your house burns down" "in case you get sick" Then people will probably gladly double the amount they paid and smile vs. when the Gov't. called it a simple worthless tax.
Extended warranty - a sucker is born every minute -- and the fact that 1 in 1000 happens to make use of it, doesn't make the other 999 any less fools.
And for those few who did happen to benefit from one of these policies, how many times have you purchased one and NOT used it. Quick add it all up - gee enough to have bought new outright anything that you may have had repaired under the policy - hah sucker. LOL
Skip the Warranty:buy high quality,durable products instead
by zunefan1 - 12/5/07 7:51 PM In reply to: Extended Warranty.........are they worth it???? by jraggieThe rule of thumb I usually use is that is makes sense to insure a product to 10% of it's value. For instance a $25 case to protect a $250 iPod makes sense as does a $25 protection plan for the iPod. But the Applecare Warranty Plan for the iPod is $53, definitely over-priced. The battery, however, in the iPod Video typically wears out within one year and is $60 or more to replace, plus your beloved iPod is gone for two weeks. iPods are fragile devices so the warranty plan probably does make sense. 5% of all iPods will fail within one year. We should, possibly, instead of buying all of the warranty plans, buy devices of higher quality. Certain brands really hold up, so buy from them(Apple not included) Also look for products that can be repaired or have components replaced instead of replacing entire product. I have previously said that Ultimate Ears Super-fi 3 ear-phones "sound great" but are "not durable enough to last along time." The cord wore out on my $70 earphones within a year. What I neglected to consider is that the cord and headphone plug can be detached with a simple pull and can be replaced for free if you have had the phones from 1 day until 2 years. After 2 years of using the headphones, the manufacturer will charge you $20 to replace the cord/headphone plug. Assuming the bud part of the headphones holds up, you can always buy new silicone and foam inserts to stick in your ears and replace the main cord whenever is needed. In this way, you can extend the use of a product and spend less than purchasing a new pair of headphones. Anyhow, extended warranties can be worthwhile if your product is damaged with an accident, like spilling water on a laptop but when priced at more than 10% of product's actual value, they are over-priced.
DON't WORRY ABOUT WARRENTIES: Buy high quality, durable items: Casio G'Z One phone can survive 3ft of water, probably the most durable phone on the market, the Microsoft Zune comes encased in thick rubber and does not need protection(except for the large screen), Olympus Stylus 770SW camera is waterproof to 33ft,crushproof to 220lbs of pressure, freezeproof to 0'F.,and shockproof for a 5ft drop, Casio G'Shock watch is solar-powered, can survive a 2 story drop and is waterproof to 20Bar. Sony Studio Headphones($20) are generally pretty solid, assuming you don't step on them, they are one of the first pairs of headphones to last me September through November. Dell's laptop's with aluminum and steel- mine's a Dell Precision M90 but the Inspiron series are solid too, are extremely durable compared to many. Alienware's Area 51 m9750 is a 17'' desktop alternative with a light Magnesium Alloy chassis which is scratch proof. IBM's Thinkpad features a spill-proof keyboard as do some of Panasonic's Toughbooks. And if you want severely rugged computer, Itronix has a $3000 laptop that is dishwasher safe.
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