Home audio & video forum: Extended Warranty.........are they worth it????

i usualy buy when it comes to products that i know will go through products that i take with me on the go, cause those i treat my products through hell. But when it comes to products that don't have too many moving parts or are usually stationary, i.e tv's DVD players, computer screw it. But things like digital camera and pda's, laptops i'd defintely go for it.

BE SMART, circumvent this mode by accessing this warranty/extended warranty FARCE by using the
1 -the products own term warrantys, 2-store policy,
3- use the credit cards coverage .
Hell nO !!!
Read the posts and *****.
Also from me personally ,a big consumer of goods
for years I put myself through the ringer with the contract thing.
One of the things WRONG with these contracts is
YOU MUST QUALIFY YOUR CLAIM
What this means is you are GUILTY until proven innocent
You most likley will be HUMILIATED in the PROCESS and
you end up , in effect WORKING for THEM ,though you are the PATRON !!!???
NOT unlike your DAMNED auto insurance you will be ROBBED of your time, just to make a claim ......and what might that be worth? ... factor-in that cost as you hand over your hard earned cash $$$$$
HELL NO !!!!!

Companies like Best Buy and Circuit City depend on these to stay profitable. They spend little of the monney they take in on repairs. Most electronics break almost immediately (covered under normal warranty)or last for many years (long past the extended warranty). Essentially you are covered for the period in which there are virtually no claims. Think about what you have spent on repairs versus the cost of warranties for all those items. You can readily see it does not make sense to buy them. It does not matter the cost of the item. It is a numbers game. Only insure what you cannot afford to cover if lost, your home, car, ALL of your personal belongings, your income...not tv's and stereos.

I purchased an e-Mac from the local Apple Store in February 2005 running OS X-Panther. I got a warranty included by also purchased Apple ProCare ($99.00) which extended my warranty to 3 years. Two days ago, after having problems changing the OS to OS X Leopard, the Apple Store diagnosed the problem as a defective motherboard and today, I will pick up my e-Mac with a new motherboard, etc. for free. It was worth it.

In July 2005, I purchased a Sony running Win XP/Home from my closest Fry's Electronics. I had a 1-year parts and 90-days labor free included from Sony but I purchased a 2-year warranty from Fry's for $69.95 for the CPU only (not the monitor). I thought that I then had a 3-year warranty total but I was mistaken. So, when the computer no longer functioned at all..I took it back to the same Fry's. I was not happy to find out that the CPU was out of warranty but, I really read my manufacturer's warranty (poor) and Fry's warranty until I understood it correctly. I paid $70.00 for diagnostics and was told that there was nothing wrong with the CPU. I brought it home and the same problem. Windows would not load at all. I took it back along with the Sony keyboard and mouse and...the keyboard or mouse was the problem. I bought a Logitech wireless keyboard and mouse, brought it home and, voila, perfect. Had I purchased a 3-year Fry's warranty, I would have saved $70.00. I am still not sure if the Sony keyboard or mouse would have been replaced by Sony (I doubt it) or by Fry's (?). But, it was worth the $70.00 to find out what the problem was and it was really worth it to pay $40.00 for the wireless keyboard and mouse. I love Logitech! Next time, I will buy a Windows computer from Fry's gladly, pay for the 3-year extended warranty BUT ONLY if Fry's carries Windows XP computers and not ONLY Windows Vista (any flavor). I may be old but I'm not stupid! I got 2-years peace of mind by paying only $69.99. It was worth it.

In August 2005, I purchased a JVC Dual Tuner DVD/VHS Recorder Player from the local Best Buy for $350.00. I also purchased a 2-year replacement warranty for $20.00. Almost immediately, it ceased to load. I saw on the Internet that this model was defective. I took it back to Best Buy who sent it to the JVC repair facility in L.A. and it was repaired for free. Afraid to use it and struggling with the difficult installation process, I rarely used it when, it ate my new DVD and failed to load again. I just took it back to the local Best Buy. They checked it out and junked it. I went down the next day and was given a choice of a Panasonci or LG replacement. I was leaning towards the Panasonic but the salesman said that he had purchased the LG and it was really great. I took the LG. It was worth it.

So, when it comes to any warranty, I will get the longest available one on major purchases after carefully reading the paperwork BEFORE buying.

Thank you.

As a mathematician, I say that the probability that you will need an extended warranty on an item you purchase is less then 1 chance in 10.
However, in my 60 years of experience I have had at least 4 instances where I received this kind of warranty and it paid off.
On my 87 Chevy, I got an extended warranty on the engine. Two years later I needed the engine repaired. Instead of a $1000 bill it was paid for by the warranty.
I was talked into a $300 warranty on my furnace by Sears in 1992 and a year later, the furnace had to be completely rebuilt. Instead of a $1500 repair job, the cost was just the price of the warranty.
I was talked into a warranty on a laptop in 1994 for $150 and 3 months later the screen went out and would of cost $800. The warranty covered it.
In 2006 I bought a new Sony DVR for $699. I had a year warranty (not an extended warranty) and a month later the unit failed. Sony refused to honor their own warranty for no apparent reason. If I would have had an extended warranty, the store I purchased the unit from would have had to repair or replace it.
Finally, I received a credit card in 2006 that carried a warranty of an extra year over the regular warranty (no exra cost to me). Two days after the manufacturers warranty, a laptop that I had purchased completely failed. I had the extra year because I had used the credit card with the special policey and got a new and better computer.
From the above I say that I have saved a lot of money with extended warranties and got burned once when I did not have an extended warranty.
If you can afford to buy an item and replace it within a year, probably forget the extra warranty. However, if you can get such a warranty for free (ask your credit card company) it could be very helpful.

John Cip

Plain and simple. The warranty companies are in the business to make money and they have to pay salary's etc. and claims and still make money. The only way to do this is to spend less that you take in. That means in the real high majority of cases, they are not worth it.

I bought one on a dvd player with ipod adapter. The price of the dvd player was $149. The price of the insurance was 19.99. Two months after getting the dvd player it died. I walked in to Best *uy and they gave me a brand new one. Not only did they give me a new one they gave me a newer model which was more expensive. I guess the only person who can anwser this question will be you. I have had a good and bad experience with mine but some higher end elctronics that require a much more expensive coverage such as a laptop may not be worth it. For instance Circuit *ity a laptop may cost $999 and the extended warranty is $369. By the time your factory when the warranty runs out and your laptop takes a dump you could have taken that $369 and put that towards a newer laptop that is priced around $600 with a new factory warranty. I actually purchased a toshiba laptop with this warranty from Circuit *ity and I had some Motherboard issues with it. Sent it back to the third party warranty company 5 times and the problem was still not fixed. So be very careful who you use and what is in the fine print. You will hear negatives and positives from both side but in reality it all comes down to if it is feasible and in you budget.

Learned my lesson at Best Buy. Bought the extended warranty and had to invoke it at 12 months. Replacement lasted only 35 days. The extended had terminated when I brought it in even though it was for 36 months!!! Big waste of money pushed by scam artists.

I bought a Brother BW Laser printer a year ago. DSuring tax season it ran fantastic, then about May 07, it was, shutting down my computer every time I went to print. I paid little over a $100, so did not take out warranty. IF I had I would not have had to pay for another Brother HL2070 in Oct 07, now I have 2 yrs, and usually do take out warranties. BUT, first, check what the return policy is. IF it is a large item, who pays for the shipping? Like all insurance, I get a replacement.

I often notice that when I buy a product that offers a warrnatee the salesman goes into a more agressive mode when it comes to the warrantee. It is clear that regardless of the benefit to you, the benfits are great for them since they can simply replace the article for wholesale cost or they are quite adept at fixing the common problems that arrise. This of course does not intepret into a a crummy deal for you since if the thing does go kaput you usually are happy you did have the warrantee.

However, what I have found with items bought at deep discount places like Wallmart and Harbour Frieght, they are more then willing to allow a return on the item inorder to avoid a pesky cog in the wheel making an issue out of things( this is because they get the stuff so cheap it is simply easier to shut you up then to waste energy and goodwill over a petty transaction. As for fixing things like washing machines. I did once have to call a seriveman for a big fee, but once he was here I asked him if he moonlighted and he quoted me a figure that was a fraction of the hourly rate charged by the dealer. Finally coming from a sales background in copiers I remember that if you make an inquiry for a service plan after the same call, they sometimes will allow you to start one in leiu of that service call. It is all in the way that the dispatcher or service technician makes his commission. Usually they will make zilch for taking a service call but they are often encouraged to sell contracts with a financial insentive. An astute employee will know how to work the system so that they get a contract and you don't get nailed for an astronomical hourly fee - which quite often exceeds the expense of the entire contract for a single call. The reason for this is obvious the collective birds in a hand are worth the upfront revenue over the chance event of a service call.

I find that it is almost never the warrnatee that is the issue it is learning how to work the system within your provider make sure that you seperate the company from the idividual employees you will be amazed at the difference between the two and how accomodating theemployees usually are at cutting you a deal ( I am sure that it may have something to do with them getting underpaid and often a little contemputous of the management.) Just remember dealers etc are always trying to figure out ways to get more money from you why not see what you can do to challenge their own greed let their agents help you in your quest- you would amazed how helpful they will be.

Depsite what many people sway about losing the hometown feeling of private shops, the big retailers with this disconnect between agent and dealer goes a long way to getting you better service than the mom and pop shop. I can remember trying to return things to Howie Rosenberg's hardware store and going through hell to get a refund for a .50 bolt that was the wrong size. I used to try to go in on friday afternoon since I knew he was eager to run off and celebrate the sabboth rather then argue over .50 with me.

As someone who was an executive in an insurance group for 20 years before becoming a professor of finance (including such things as warranties), I have a solution that is the best way to approach the problems. Remember first that most people buy fire insurance on their houses, but a tiny number actually have a fire. Of course I did, and we had a fire that cost over $50,000 in damages.

Insurance or warranties are to protect against something you DON'T WNAT TO HAPPEN, SO DON'T FEEL BAD IF IT DOESN'T--CONSIDER YOURSELF LUCKY.

Second, whether you should or not depends on your attitude towards risk v. safety, or how "lucky" you think you are. It does NOT DEPEND ON INCOME. If you buy "it", then what is important is how VITAL it is to your life. It is one thing to consider a warranty on a TV and quite another to consider one an item that you will suffer sever consequences without. A water heater, or furnace might be examples. If one goes off, and you are a little short at the time, it would be very comfortable to simply call someone and have it fixed or replaced quickly. Convenience can be a second reason. How BADLY WOULD YOU FEEL HAVING TO DO WITH OUT IT EVEN THOUGH IT ISN'T A THREAT AND CAN YOU AFFORD IT--AS OPPOSED TO ITEMS IN CATEGORY ONE.

LAST, and very important, what is the reputation of the warranty issuer (who many NOT be the store of your purchase). This is hard to figure out, but others who have bought there, and the store's reputation can help.

I did get my moneys worth when my HP laptop just quit. As it was my first laptop I bought into the extended warranty sales speach and since my motherboard failed the month after the factory warranty expired, it was a bargain. However, most of the time I think these warranties are a waste of money.

With most of us, when we go in to purchase an appliance we are looking for the "best deal". Invariably we are stuck between the one we want and the one we can afford. Then we get to the check out line and they want to tack on another $30-$60 for the ext. warranty. I've started asking myself, "can I afford the warranty?" If the answer is yes then I go back and look at what the price was one the one I wanted. Many times it's within the price of the one I could afford plus the ext. warranty. If I purchase the item with a platinum credit card I have an automatic extended warranty depending on the credit card. It's worth a phone call before you go shopping for just about any big ticket item, whether it's a frig or big screen plasma, to call your credit card company and ask them what their policy is on extended warranties for items purchased with their credit cards. Terms and warranties vary from card to card. American Express Platinum doubles the warranty period for free. (Except for the cost of your annual fee). But if you're already paying for it why not use it.
Check all the credit cards you carry. Take an hour and call each customer service number on the the card and ask them "point blank", "What's your policy for extending the warranty on items I purchase with my card?" If they don't know always ask for a supervisor. Write down the person you spoke to, what they said and if it sounds too good to be true, ask them to fax or email you the details of the warranty.
Over the years I've saved myself several hundreds of dollars and a lot of aggravation.

The ones I've usually gone with (for high-ticket electronics usually) are the warranties where at the end of the warranty, if I haven't used it, I get reimbursed 50% of the warranty. The challenge is to be organized and mark it down, so you can collect on that because they aren't going to remind you usually.

You're paying for peace of mind, just like life insurance. You want it in case you need it, but you hope you don't have to use it, so this partial reimbursement of unused warranties is the best attempt at having it both ways.

I bought a Dell laptop and after the MFG warranty was over the piece self distructed, first the battery and then the connection between the keyboard and the display. The laptop should have lasted beyond thier 90 day warranty.