Should I Get That Warranty For My Electronic Item.

Yes i work for sears and that protection agreement is worth evey penny just make sure that every year you get the maintenance done and it will pay itself back.

You, bet!

If something electronic "goes", the parts cost alone will pay for the Protection Agreement.

Having the Service people who know how to install the electronic parts are a big bonus, as is the yearly, owner scheduled, Preventative Maintenance check.

Go for it!

Money well spent...

AdamO, let me start by saying I travel frequently both by air and ground transportation. I recommend the following:

If you are purchasing a laptop that is under about $1200 and you travel frequently or move your laptop around frequently I would purchase a two year plan (Protection plan/Accidental Protection). If the laptop is more than $1200 I would suggest the 3 year if it is available. You should expect a minimum of 3 serviceable years from a laptop, which is why the warranties usually max out at 4 years. If you are not worried about self-inflicted damage to a laptop then just get the regular warranty.

If you are only getting a desktop I would only get the extended MFR warrant with the above durations in mind.

If you have a laptop for three years you can probably expect the DVD/CD drive to go out, a power connector problem, battery replacement, or perhaps a keypad and or hinge replacement if your laptop gets severe use. 

Last note: It is my experience that although Toshiba's often contain near the top of the line mainstream technologies they often have the most hardware problems. I recommend HP, Dell, Lenovo, or Asus (cheaper of the recommendations). Sony is nice, but $$$.

Which still means, Protection Agreement money is money well spent.

We get the protection on all kitchen, electronics items... anything it's offered on...IT has paid for itself...

SHC-Martina said…

We get the protection on all kitchen, electronics items... anything it's offered on...IT has paid for itself...

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Let me be the dissenting voice.

Read Consumer Reports (www.consumerreports.com, plus the magazine from your local bookstore) and find the most reliable brands to buy to begin with (and while you're reading Consumer Reports, read their article saying buying extended warranties is a bad idea to begin with).  Once you've got the (reliable) brand you want to buy, next get a credit card (Mastercard or Visa) that doubles your warranty for free (the vast, vast majority do already - for free!).  Once  you've got a good, reliable brand and a warranty-doubling credit card, you're all done!

Warranties are a HUGE profit center for those selling them.  The vast, vast majority of people never have a claim (or never have a claim honored).  Don't spend extra $$$ for a warranty you will, most likely, never need.  Instead, put the money into a bank account and watch all the $$$ pile up - in your favor.

Thanks guys.  LOL!

Extending a defect-only warranty is an option, though it doesn't do terribly much.

For instance, if your refrigerator fails, who eats the cost of replacing all the food? The manufacturer? Nope. The credit card? Nope. Consumer Reports? Nope. You do.

If you have a power surge, who eats the cost to fix your appliance? The manufacturer? Nope. The credit card? Nope. Consumer Reports? You do.

If you have a normal wear-and-tear issue, who eats the cost to fix your appliance? The manufacturer? Nope. The credit card? Nope. Consumer Reports? Nope. You do.

If you have cosmetic defects, who eats the cost to fix that? The manufacturer? Nope. The credit card? Nope. Consumer Reports? Nope. You do.

If the product (even a Consumer Reports recommended product) fails in the 3rd, 4th, 5th year, who eats the cost to fix that? The manufacturer? Nope. The credit card? Nope. Consumer Reports? Nope. You do.

If you need to rent a replacement while the appliance is being fixed to get along with your normal life, who eats the cost for that? The manufacturer? Nope. The credit card? Nope. Consumer Reports? Nope. You do.

Who covers complete cost to replace for up to 5 years should it be necessary? The manufacturer? Nope. The credit card? Nope. Consumer Reports? Nope. You do.

And, keep in mind that almost every objection Consumer Reports has with "extended warranties" pertains almost exclusively to "extended warranties," and not the much more robust suite of benefits and services provided by a Master Protection Agreement. Generally, it's superstition, rumors, and the cheap junk plans offered by some competitors that give the worthwhile plans a bad reputation, and that's unfortunate.

That's all well and good, but the fact of the matter is if you buy good stuff the first time, you won't need to replace the product.

Warranties are a massive profit center (ie source of profit) for anyone selling them.  That means there are far more people paying for the warranties than there are payouts to warranty claims.

For most people it's best to simply "self-insure" - rather than buy warranties, just use credit cards that double the warranty for free, buy good/reliable products to begin with (see Consumer Reports for help in this), and take the money you would have put into warranties and instead put it into your bank account; you'll save that money rather than giving it to a warranty company.

Leave the insurance for the disaster items - your own health, your car, your house, etc.  Insuring the smaller stuff, when basic financial sense says you'll lose money every time because the warranty provider will make money every time, just doesn't make sense.

We have purchased the Sears extended agreement on all appliances and big $$ electronics and it has more then paid for itself.  Just in the yearly services, example big screen tv-covered once a yr to come out check all settings put specs back the way they should be.  I have 2 large tvs and that service pays for themselves.

Question is, would you buy car insurance if you werent legally forced to? Same exact concept, if you plan to use the item as it was intended, and want to take your chances on accidents out of your control, then no, if you like payign al ittle to feel secure in case of emergencies, than yes.

SearsPro said…

Question is, would you buy car insurance if you werent legally forced to? Same exact concept, if you plan to use the item as it was intended, and want to take your chances on accidents out of your control, then no, if you like payign al ittle to feel secure in case of emergencies, than yes.

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It's not even close to the same thing.

A car accident is disasterous for most people - there can be $40,000 in damage to the car(s) (or tens of thousands more, perhaps), there can be $100,000 or more in medical damage, etc. etc. etc.

If your refrigerator breaks, you have to eat out for a few days while you get another one.  A used one might set you back $400, a new one might set you back $800-$1200.

How much does a refrigerator warranty cost for a $1000 refrigerator?

You ever talk to some one with diabetes when theyre fridge dies and sears cant replace it?

Or a single mother of 4 when her washer/dryer dies.

My point is that it depends on the person, people like you who get paid alot and don't have to worry about little things shouldnt buy one, people who rely on their appliance because they save up all year to buy oen should.

But depends on the person.

SearsPro said…

You ever talk to some one with diabetes when theyre fridge dies and sears cant replace it?

Or a single mother of 4 when her washer/dryer dies.

My point is that it depends on the person, people like you who get paid alot and don't have to worry about little things shouldnt buy one, people who rely on their appliance because they save up all year to buy oen should.

But depends on the person.

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I think you're being just a -bit- dramatic.  A $400 used refrigerator is a simple choice for anyone if theirs breaks.

Really - what's the price of a 3-year warranty on an $800 refrigerator?  

You are not answering the question, he wanted to know if HE should get the rpa, no one cares about how cheap you are or how thrifty you think you are.

If you do not think that a dead fridge after 1 year to a single parent is not the end of the world, then you clearly are too disconnected from society to vote.

well if he really wanted to know what he should do he would have deiceded for him self

What kind of "SearsPro" thinks that refrigerators have RPAs?

SearsPro said…

You are not answering the question, he wanted to know if HE should get the rpa, no one cares about how cheap you are or how thrifty you think you are.

If you do not think that a dead fridge after 1 year to a single parent is not the end of the world, then you clearly are too disconnected from society to vote.

 

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If they're a single parent, I'd say it's even _more_ important that they not waste their money with warranties.  Put the money in the bank, buy reliable products to begin with, and use a credit card that doubles the warranty - far smarter in the long run (and the short run too.)  

Your dramatic examples aren't helping your argument.  Take the emotion out of it and tell us why anyone should buy a 3-year warranty when a credit card will cover the second year of the warranty for free already, and product failure rates for good products is at an all-time low.  

What is the price of a 3 year warranty on an $800 refrigerator?  

I buy the warranty as Sears has excellent service and If you buy big items as such as a Plasma TV as if it goes out it is COSTLY! Some warranty price are actullay negotiable too, if you want to haggle to save some cash!

Happy holidays and God Bless you all and OUR TROOPS IN harms way!

                                                                                 Dice....

I'll help you out.  Sears does not sell extended warranties, so a credit card company cannot extend something that Sears does not sell.  Now maybe Home Depot or Lowes sell extended warranties, but not Sears although the Sears repair team, A&E, are contracted by those stores to fix their customer's products.  

A 3-Year "Service Plan" on an $800 refridgerator at Sears is $189.99 or lower, depending on the model.