Extended warranty- please vote!!

ddmom

Tue, Jan 05 2021, 2:32 pm

Do you think it's worth it?
Did you ever have to use it? Did they fix your appliance or replace it?
How old was your appliance?
Please share what type of appliance it was.

Last edited by ddmom on Tue, Jan 05 2021, 7:59 pm; edited 1 time in total

mommish613

Tue, Jan 05 2021, 2:39 pm

ddmom wrote:

Do you think it's worth it?
Did you ever have to use it? Did they fix your appliance or replace it?
How old was your appliance?
Please share what type of appliance it was.

I never used it but my regular repairmen advised me to buy one. I found this completely honest since he wouldn’t be the one sent by the company

Mothers

Tue, Jan 05 2021, 4:31 pm

FWIW: Consumer Reports advises against buying extended warranties (except maybe for laptops). They seem to think that the odds of something going wrong just after the regular warranty is up - but before the extended warranty runs out, is slim. They think it is better to buy a quality product to begin with, and if it is a lemon, the problems will show up pretty fast (I.e while still under regular warranty). Apparently companies make lots of money by selling extended warranties - often more than on the item, itself.

meeze

Tue, Jan 05 2021, 4:42 pm

I have an amex credit card. Most amex ccds provide that as part of the benefit of the card. They also have purchase protection if something breaks as well as return protection if the company u baught the item with doesnt want to accept a return.

ddmom

Tue, Jan 05 2021, 5:39 pm

meeze wrote:

Do you know what kind of extended warranty they offer on big appliances? I'm assuming it only works if it needs to be replaced?
Did you ever actually use that option?

Amarante

Tue, Jan 05 2021, 5:41 pm

Never bought one and never regretted not having one.

The cost of extended warranties for appliances would be more than the cost of repairs for that period. I don’t need insurance to cover a repair bill for an appliance.

ra_mom

Tue, Jan 05 2021, 6:41 pm

We have an extended warranty on our fridge and have used it. Worthwhile for an expensive piece. We had a repairman come for an issue. No replacements, just adjustments.
We don't extend the warranties on our other appliances.

doctorima

Tue, Jan 05 2021, 7:08 pm

ddmom wrote:

Do you know what kind of extended warranty they offer on big appliances? I'm assuming it only works if it needs to be replaced?
Did you ever actually use that option?

Most AMEX cards will double the manufacturer's warranty, up to a maximum of an additional 12 months. I've successfully used it several times. Many electronics come with a 12 month warranty and survive the 1st year, but then die sometime during the 2nd year, which is where AMEX extended warranty comes in very handy.

Miri1

Tue, Jan 05 2021, 7:22 pm

I have used my extended warranty one time, right before it expired.
However I still regret buying it because they messed me over when they sold it to me and made it sound like it would cover more than it did.
Also, you may be left high and dry waiting or trying to get through until the repairman actually shows.
When not trying to go through a plan, I have the guy there the same or next day, and the hassle is over.

honeymoon

Tue, Jan 05 2021, 7:24 pm

We had an extended warranty for our washer/dryer. They sent us a check with the full amount to replace ours when it broke and couldn't be fixed. This was after they covered 2 service calls to see if it can be fixed. Was definitely worth it for us.

Eta, We bought our warrantee from an independent warrantee company, not the machine company.

Last edited by honeymoon on Tue, Jan 05 2021, 7:26 pm; edited 1 time in total

Amarante

Tue, Jan 05 2021, 7:25 pm

Just remember that extended warranties are considered to be a major source of profit. There is a reason why savvy consumers don't get them.

Far better to put whatever money you would have spent in a savings account so that paying for an appliance repair is not a big deal.

challahchallah

Tue, Jan 05 2021, 9:16 pm

Amarante wrote:

Exactly. Like all insurance policies, on average, the consumer comes out behind. The reason it’s worthwhile to have insurance is to guard against a financial loss that you couldn’t weather (for instance, sky high medical bills or your house burning down). If the financial loss is something you could survive (like a broken washer), you’re much better off self-insuring by and large.

meeze

Wed, Jan 06 2021, 4:40 am

ddmom wrote:

Do you know what kind of extended warranty they offer on big appliances? I'm assuming it only works if it needs to be replaced?
Did you ever actually use that option?

I use it all the time. You could even call and ask the specifics before you get the card or apply

1 (800) 225-3780

Chayalle

Wed, Jan 06 2021, 7:26 am

I bought a Shark vacuum cleaner with a warrantee from Amazon, and about 2 years later, it started to make a funny noise. I called the warrantee, and they issued me a full refund of the price, which I used to purchase a new one, plus warrantee.

It was like having the vacuum cleaner for the price of the warrantee for 2 years.

I also had a warrantee for a printer from Best Buy, and there, they even refunded me the unused portion of the warrantee price when I started having trouble. I got a brand new printer (later model of same) and have it for years now. Not sorry to have bought the warrantee.

ddmom

Thu, Jan 07 2021, 8:16 pm

So the results so far are that almost a third of the ppl that bought a warranty used it!! That's more than I thought!
Thank you for the tip about getting extra warranty thru amex!
Still debating if I should extend it for an extra 3 yrs... it's relatively expensive compared to price of my appliance!
I also used a warranty for a vacuum cleaner bought on Amazon and we got a replacement!