OT: Extended warranties

[Smiley]

do u buy these for top notch electronics ?

example is HDTV's

[Tom]

But that being said, read what they cover and what they don't.

I just read somewhere recently but can't remember where so here comes a reference from an uncited source that they are not a good bet.

If the device goes screwy it goes screwy right away unless you forget to unplug it in a thunderstorm but if you do that the manufacturer isn't going to pay off so why bother with the warranty?

[gasman]

Consumer Reports recommends that they are not worth the money under almost every circumstance. The warranties basically just line the pockets of the retail sellers and add no value for the consumer.

[davids]

Never, never, never. Electronic failures tend to follow the 'bathtub' curve - The probability is that things will break right away, or after a long, long time. Extended warranties cover the period where the probability of problems is very low.

[djg]

It's an insurance policy, often marketed as an impulse buy (maybe because even for somewhat risk averse persons, it's not a great insurance deal). I buy them only for laptops, because laptops really do break if you cart them around (and I've ended up using the policies which, at least in the last couple of cases, have seemed cost-justified by a good bit). I'd look into information on the category of good you are buying. If it's something that's prone to failure, maybe it's time to think about insurance. If not, I'd just walk away from the sales pitch. For the kind of regular Y2k TV we have, the extra warranty seemed a waste of money--I don't know if the plasma screens are more problematic or not.

[zap]

I agree with djg, laptops only.

[Elefantino]

At most electronics retailers, you can deal on these. Dirty secret.

[rePhil]

On our Maytag washing machine. That was the only one we ever bought.

[dave thompson]

The 'warranty' company usually pays the seller a 40% commission. Not knocking commissions but you know the 'warranty' company is making a buttload of money if they can afford to pay that kind of money out, in addition to holding the reserves necessary to cover the anticipated expenses of coverage, plus pay themselves. The failure/fault rate on electronics today is very, very small.

[Kevin]

do u buy these for top notch electronics ?

example is HDTV's

Don't waste your money.

Kevin