Purchase a warranty?

Started 3 months ago | Discussions thread
dwight3
Senior MemberPosts: 1,801Gear list
Like?
Re: Purchase a warranty?
In reply to lysiajoy, 3 months ago

Extended warranties are a good deal for the store. Not so much for the customer.

My rule of thumb is that the extended warranty is not worth the money if it costs more than 2-3% of the purchase price per year of extension. That's for a warranty that covers everything: defects, damage, loss.

I got under that target once and bought the insurance. I didn't need it.

I needed a water heater once. I went shopping and the plumbing department in the local store had 3 levels of water heater. $200, guaranteed for 2 years, $350, guaranteed for 4 years, and $550, guaranteed for 8 years.

I talked to a friend of mine who does plumbing. He told me that they're all the same water heater. You pay for insurance.

I expect that sort of thing is common to most all extended warranties.

 dwight3's gear list:dwight3's gear list
Nikon Coolpix S52c Nikon D200 Nikon D4 Nikon AF-S Nikkor 70-200mm f/2.8G ED VR Nikon AF-S DX Nikkor 17-55mm f/2.8G ED-IF +9 more
Reply   Reply with quote   Complain
Keyboard shortcuts:
FForum PPrevious NNext WNext unread UUpvote SSubscribe RReply QQuote BBookmark post MMy threads
Color scheme? Blue / Yellow