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Extended Warranties for Electronics

Has anyone ever used a warranty from either SquareTrade or Green Umbrella? If so, what has your experience been? Were they responsive? Did you have a good in home experience if it was necessary?

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Extended warranties

Absolute waste of money. Now a days we are in a throw away age. Use it, if it breaks, replace it. Labor involved in repairs usually exceeds replacement cost. Extended warranties were needed when a 2gig hard drive cost $500, today the extented warranty is a gimmick only.

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being a Northener

(meaning I'm Canadian); I've never heard of the companies you list, but in my experience with home, never used an extended warranty.
These days most manufacturers will provide at least a 1 year warranty against defects; frankly if a machine is going to break, it'll break in the first year.

If you're talking about computer components; then yes, I have all my components covered by an 'In-Store Product Replacement Plan', through a local computer parts store.
I've had in the past; motherboards that have fried my entire system, being covered (with the above plan), all components were replaced immediately with the same (if not better) components.

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Sounds like a great deal!

If you are a Verizon user, they have a wonderful warranty service.
Our (expensive) Panasonic Plasma just passed its 1 year warranty period and we received a letter from them with an extended warranty.
I was about to go for it, until I saw what Verizon had to offer!
For around $20/month, you can cover ALL of your TV's, computers, telephones,mice, keyboard, monitors,routers, etc. If you read the fine print, there is a $75 surcharge when submitting a claim, but it still comes out way cheaper than from the OEM! Also, there is NO age limit on the quipment, but there is a 30 day waiting period.

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here is a typical example for cost
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Extended Warranties for electronics

I can't say I've had any experience with the companies you mention, so this is just a general comment about extended warranties. Others here have suggested that they are a waste of money, and that if a piece of electronics is going to fail, it will probably do so within the 12 month warranty period.

That used to be my standard response as well, until some recent experiences that have made me re-think the issue.

I had a 46" Samsung DLP television that developed a serious problem (white dots on screen) about 4-5 months beyond the 12-month warranty period. The cost for the repairs would have been near the price I paid for the set, which is fine for something that costs $30-$50, but not so fine for something that cost over $1,000 and lasts less than 2 years. To Samsung's credit, they had received enough complaints from customers with the same problem that they realized it had to be due to a design flaw or some type of defect, and they had the repairs done by a local shop at no cost to me, even though my set was beyond the warranty period. Kudos to Samsung.

My other recent experience did not go as well. I had a Sony Blu-ray player fail less than 2 months beyond the warranty. Internet research showed this was not an isolated incident. Sony did not want to stand behind their product the way Samsung did. I finally got a reasonable resolution to the problem, but had to fight tooth and nail for weeks to get it. Suffice to say, I will not be buying any more Sony products unless I'm offered a very inexpensive extended warranty to go with it.

My new attitude about extended warranties is that for items costing more than $200-$300, I will seriously consider an extended warranty if it extends part & labor warranty for at least 2 additional years for less than 15%-20% of the replacement cost of the item in question. If the cost of the extended warranty is 10% or less of the item cost, it's a no-brainer--I'll buy it. If the product is made by Sony, I won't buy it unless the total price of the product and extended warranty is still competitive with the price of just the product from a reputable competitor.

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