Are Extended Warranties Worth It?

Discussion in Shopping Discussion started by Jessika • Jan 16, 2017.

  1. Jessika

    JessikaActive Member

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    When you buy something, particularly electrical goods, they are normally covered by the manufacturer's warranty for a period (often a year). It looks like most shops now offer their own extended warranty, lasting several years after purchase when they will replace or repair the machine free of charge. Sometimes these warranties can be really expensive, and more than the price of replacing the product!

    Do you buy the extended warranty when you buy electrical goods? Do you think it is worth it or a false saving?

    I sometimes buy them, depending on the product. For example our washing machine had a reputation for either working for years or breaking just after the warranty expired, so I took the extended warranty. When it broke after 18 months we got a free replacement so it was worth it!
     
  2. Ray1

    Ray1Well-Known Member

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    I think yes particularly in case of electronics and electrical goods. I have a very good experience of extended warranty here. I bought a HP laptop and paid $45 extra for two years extended warranty in addition to regular warranty of one year. Nothing happened in the first year but as soon as the first year passed first the hard disc crashed and then keyboard stopped working. I was attended immediately and both of these replaced.
     
  3. Jamille

    JamilleActive Member

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    I guess this will depend a lot on the cost of the extended warranty, the value of the item, and the probability of using the warranty. I haven't paid for extended warranty in recent years and I haven't regretted not doing so. My brother recently bought a smartphone and since he has a young son who loves to throw things around, he asked if there was extended warranty that will also cover breakage. He was quoted 10% of the phone cost so he grabbed it. In my case, breakage is not much of a risk and or course, I'm using an inexpensive smartphone so replacement will not hurt as much if it gets broken immediately after its warranty expires.
     
  4. harijobs

    harijobsActive Member

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    I think it depends on the type of product and its usage level. It would be a smart choice to buy an extended warranty for big electronics like washing machine because it will be really worth the price of the warranty to get a free new replacement. I have not personally bought any extended warranty for any of my electronic products that I own. Maybe I will think of it in the future.
     
  5. Ray1

    Ray1Well-Known Member

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    Extended warranty is worth for all electrical and electronic gadgets. All gadgets including refrigerator, washing machines, microwave ovens, geyser, vacuum cleaners generally breakdown when you least expect them and an extended warranty which costs very little comes in handy. I always go for one or two extra years in most cases and even if I get even with what I pay extra I feel secured. Extended warranty works just as health insurance for the gadgets.
     
  6. Alexandoy

    AlexandoyWell-Known Member

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    When we bought our gas range, we were offered an extended warranty over the basic 1-year warranty. Come to think of it, is it really worth to have that warranty when the manufacturer assures you of a good performance and durability? No, we declined the extended warranty. Now the range is more than 3 years and it's still okay, no problem. That extended warranty, if we availed of it, is already expired by this time.
     
  7. Nakitakona

    NakitakonaActive Member

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    Whether it is a false savings or whatever, at least the electronic gadget we have bought have a warranty for at least a year. In case, something would happen to the unit we have bought it could be attended to. In my case of my daughter's laptop she bought, something has gone weird with the operating system. Since it is under warranty, it was repaired. In my ow case, I bought a large screen Led TV. Its monitor malfunctioned. The sound is audible but there is no picture. The company where I bought that TV, replaced it with a new one for it is still under the warranty period.