Extended warranties worth the investment?
hd_boy
15 years ago
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15 years agoRelated Discussions
Extended Warranties...
Comments (25)Insurance is for catastrophes. High cost events Unlikely events Events that are beyond your control These conditions make it worthwhile for both the insurer and the buyer. Both parties are in a win-win situation. It does not create a win-win for either party when coverage is broadened to include smaller costs. Appliances and their repair are not high cost, compared to a catastrophe. Repair is not high cost, compared to a catastrophe. An extended warranty is an expense. You choose to pay it in advance. Talk about easy! You remunerate strangers who aren't there when repairs need fixing, and who've kept your money as sales commissions and administration fees. Talk about being easy! Psychologically, if you have extended warrantees you are willing to face life's most minor challenges, like rearranging the deck chairs on the Titanic while it scrapes the iceberg. Why sweat the penny stuff? Paying for any insurance = paying someone to pay you = exchange of money for money = make it subject to unlikely, high-cost situations = catastrophe. If you have lifelong coverage on your ability to earn, you are willing to face bigger challenges. Choose where you exchange your money. Hiring a butler is an expense, not insurance. Maintenance and repair is an expense. Manage your own repairs. Manage your own expenses. Manage your own repair expenses. Don't act "I can afford it" and "I'd rather have the peace of mind." Or, do the opposite and let them have your money now. Why not now? "It sounds good; it makes sense," you may believe Think about the bigger things that can hurt you. Instead. It hurts. Just to think about what can hurt, is painful. Isn't it? Then, call the insurers who already know you, and improve the features in your coverage shielding you from more significant events. Now which kind of peace of mind do you want? The kind that tells you someone will be available to do small things for you? The kind that tells you someone will be available to do big things for you?...See MoreExtended Warranties
Comments (2)Extended warranties often provide more profit for a dealer than the sale itself. And that is simply the only reason for their existence and why they are sold. If you were buying a new car and the salesman says "I don't push undercoatings but on this car you're looking at you really should consider it", you'd probably go to another dealership. I recommend the same here. He's trying to make money either through the warranty or pushing you into a more profitable make/model....See Moreheat pump and air handler extended warranty
Comments (5)We and anyone else using Equiguard in the past are owed money from last spring on. They basically said good luck they aren't paying. They sent all of our claims to Assurant, the insurance company that was backing their policies. Assurant has paid a few claims that occurred in January 2010 but we haven't seen a check in the last month. We have not seen a penny from Assurant for 2009 claims. Not sure if we will, nobody is saying. The mud has been slinging from Equiguard against Assurant and recently they fired back. So I would be very leery of any extended warranty that the manufacturer or dealer is using Equiguard on....See MoreExtended Warranty on New Kitchen Appliances - worth it?
Comments (25)I'm in the market for new appliances and have spent time trying to anaylize the best decision. Each company offers different coverage so you have to be careful with that. I just purchased a fridge, range, and microwave and the extended warranty only offered a continuance of the manufacturers basic warranty which does not include control boards which I see as the major defect. I opted out. I still have many major appliances to purchase and may change my mind if I find better coverage. I can't see the odds in paying for it. Many people recommend the inexpensive Lowe's type warranties, but where I live the options are limited. I can't purchase a counter depth fridge off the floor much less an Electrolux appliance. On-line the prices don't compare to others with different warranties. It's a complex walk and at this point I decidided not to be taken advantage of. But it's a very important decision that I'm analyzing in the next few days....See Moredavidro1
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