other than the initial warranty that you recieve or purchase w/ a new vehicle or new house, there are companies that sell warranties for vehicle repairs, house repairs, appliance repairs, etc.
anyone have any experience w/ any of these products? if so, what did you experience regarding their use, acceptance by the folks doing the repairs, and your satisfaction level w/ the end results?
been seeing and hearing a lot of advertisements and just wondering if it's worth the money.
Our only extended warranty is on the exercise equipment, washer, and dryer, all through Sears. We were using the treadmill, bike, and elliptical so much (and they are so heavy) that we figured an extended warranty made sense. Generally, extended car and electronic warranties are not worth it. Cars last a lot longer now, and if an electronic part is going to fail it will do so quickly, within weeks.
The Kenmore washer is the only item I keep an extended warranty on.
SWMBO likes to have the service warranty on her Lexus. All I have ever had to do is check the air pressure in the tires when there is a big change in the weather.
They make money on selling extended warranties, or they wouldn't do it. Probably pretty good money, from the degree they push them.
That means that in the long run you will probably come out ahead by not buying the insurance. Think of it as selling yourself the insurance and pocketing the profit they would make. You collect all the little profits and use them to pay for a loss when it occasionally occurs, just like those companies do.
Buying insurance is to protect against losses you can't stand to cover yourself for long enough to make the averages work out.
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Why is is we have flood insurance, accident insurance, etc. to pay in the event of those named calamities, but then let them name it "Life" insurance?
