Extended Warranties - Are they worth it

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Apologies if this subject has been covered before, but I was wondering whether these 3 or 5 year extended warranties are worth the extra cash or they are just a rip off (I know these types of warranties on electrical goods have been criticised in the past). I'm aware that some very good retailers such as John Lewis and Sony offer a 5 year warranty included in their price (but the TVs are more expensive in the first place). I have heard people say that TVs generally go wrong in the first 12 months (so covered by the manufacturers warranty) or after 5 years, also heard that these warranties have a lot of exclusions. Any views appreciated (I'm thinking of going for a Sony KDL40Z4500 but 1850 in JL with a BDPS350 compared to 1400 in other stores with the standard manufacturers warranty).
 
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Anonymous

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ashcorn:Leave them alone they are a money making scheme for retailers. If you must have insurance, shop around, don't buy from the retailer.

I disagree - In some cases I think the shop can be better. The Richer Sound 5 year panel protection for example is totally no quibble and they replace your TV - not leave you without one for weeks. That said it's true that a lot of makers now offer 5 years of support in the price. You certainly don't need double cover.
 

cram

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Generally I don't bother with extended warranties. Figure all the money I've saved over the years has more than paid for replacements on those extermely rare occasions when something has gone wrong after 12 months.
 
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Anonymous

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welshboy:
ashcorn:Leave them alone they are a money making scheme for retailers. If you must have insurance, shop around, don't buy from the retailer.

I disagree - In some cases I think the shop can be better. The Richer Sound 5 year panel protection for example is totally no quibble and they replace your TV - not leave you without one for weeks. That said it's true that a lot of makers now offer 5 years of support in the price. You certainly don't need double cover.

Hi which manufacturers offer this?
 
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Anonymous

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Hi there. I decided to get the TV I was after from my local Sony Centre as it came with the 5yr warranty included (and free installation/ delivery and Sony BDPS350 blu ray player with the option to upgrade to the BDPS550 for £50). I believe that this warranty is on a "like for like" basis so I thought it was worth having (a friend of mine developed a red dot on his plasma tv after a couple of years of ownership and was not covered - it cost him a packet to get the tv repaired!). I note the Richer Sounds website gives the option to take their extended warranty when a TV is ordered.
 
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Anonymous

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In my experience I think it's worth considering. Three years is my personal limit, five is a long time. It's great to feel that your broken unit can be fixed for free five years down the line, though if you felt the need for an upgrade anyway...
 

JoelSim

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John Lewis. Never knowingly undersold. And a 5 year warranty.

Never, ever purchase an extended warranty from a shop. Waste of money. Usually if things are going to go wrong they will do in the first year. As said above an extended warranty is a license for a dealer to print money which is why they push them.
 
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Anonymous

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JoelSim:As said above an extended warranty is a license for a dealer to print money which is why they push them.

Worry. Some of us without the obvious experience you have, have the added worry of knowledge that some equipment is designed to fail. My god, what a life.ÿ
 
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Anonymous

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Huh. Erm. Em. Brutal, but we don't live thirty years ago. I'm not going to mention any manufacturer in particular, though what I said is only too true.
 

cram

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Why would any manufacturer want to do that? If it fails during a warranty period then it costs you to put it right. If it fails outside of a warranty period you have no guarantee of a repeat sale from the customer and all you gain is a reputation for unreliable equipment. Sorry really don't believe this.

By all means purchase an extended warranty/insurance if you really need that extra piece of mind, but the overwhelming balance of probability is that your kit will still be working fine in 3 - 5 years time.
 
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Anonymous

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I'm afraid I agree. It's called built in obsolescence.
emotion-6.gif


A lot of items are sold at a cheap rate, but they make back their money by charging the earth for parts & labour IMO......just look at cars for instance (not all of course).

I'm afraid it's the consumer age we live in, most want something for nothing and don't much care for quality. That's why Pioneer have stopped making Plasma's.
 
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Anonymous

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cram:Eh? What equipment in the context of home cinema is designed to fail. Why would a manufacturer do that?

By design I don't mean as you think. The gentlemen who have to garner the delicates for a typical unit have been pushed to unreasonable levels. Blame it all on the UK Government.ÿ
 

cram

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Octopo:
By design I don't mean as you think. The gentlemen who have to garner the delicates for a typical unit have been pushed to unreasonable levels. Blame it all on the UK Government.

Sorry really don't understand what you are trying to communicate.
 
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Anonymous

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We lose the sum of 3000 million quid to a man who couldn't escape a garden fence. Every single year.
 

professorhat

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Said man must have so far avoided gardens throughout these years of loss though, thus showing a certain degree of intelligence in avoiding his weakness.

BTW - I really have no idea what you're talking about
emotion-1.gif
 
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Anonymous

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The garden man - don't you know? He pickets at our banks, he knows what's what.
 

JoelSim

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piobob:
I'm afraid I agree. It's called built in obsolescence.ÿ
emotion-6.gif


A lot of items are sold at a cheap rate, but they make back their money by charging the earth for parts & labour IMO......just look at cars for instance (not all of course).

I'm afraid it's the consumer age we live in, most want something for nothing and don't much care for quality. That's why Pioneer have stopped making Plasma's.

ÿ

Hmmm. I don't think so. Prices on the second hand market wouldn't stand up, and then new prices would need to be cheaper. With the possible exception of mobile phones where they want you to upgrade...ÿ
 

Andy H

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Hi all,
I don't usually bother with extended guarentees/insurances, but the one time I did it worked out perfect for me.

The scenario was about 6 1/2 years ago I purchased a Sony 50" lcd rear projection tv from a multiple high street retailer for £4999. I got this tv because at that time plasma's were a lot more money and I was very impressed with this tv.

Anyway I did have a few problems/faults with the tv which were extreemly expensive to repair, which were all covered under the guarentee. After about 4 1/2 years of owning the tv broke down again, it was taken away for repair but this time it was deemed not to be an economical repair and was written off.

Off I pop into the local store and guess what?. I got a refund in full. WAY HAY !!!!!! the only thing was it was on gift cards which could only be spent in this store, but hey, what the hell.
In this time scale tv's had plummeted in price so we got a brand new 50" plasma and had loads left over. It was just a shame the store didn't sell any descent hifi etc.

The wife didn't believe me at first but she did soon when we replaced all of the kitchen appliences. AND WE STILL HAD SOME LEFT after all that.

Moral of my story, I'm normally very sceptical about these things and I only took it out because of the huge expense of the tv, but it worked for me.
 
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Anonymous

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Richer sounds one i like.

My fiancees dad has had the same kettle from Tesco for 3 years now but its the 5th one, every 6 months or so it busts, he always keeps the receipts for everything and he goes down to Tescos and they just replace it, no quibbles at all.

Moral of the story, Keep recipts
 

idc

Well-known member
cram:

Generally I don't bother with extended warranties. Figure all the money I've saved over the years has more than paid for replacements on those extermely rare occasions when something has gone wrong after 12 months.

Totally agree with you. I self warranty, so if buy something and the warranty is £50, I put that amount in account. The shop/manufacturer/warranty company has worked out what the likely cost of a repair is, added on profit, cost, tax and come up with that figure. So it is a good bet that that is what you need to save incase of a fault. Further more, my warranty account pays out everytime with no quibble or small print or delay!
 
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Anonymous

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If you feel the need to buy a warranty shop around because some independance with repair centres will sell you a warranty and it maybe cheaper.
 

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