Which is the best extended warranty? Lowes, Home Depot ,Best Buy?

ativoliJuly 17, 2014

Hi all:
I have tried to find a local appliance dealer to buy from but they ALL get terrible ratings. So I am going to buy from a big box store and am wondering if any of you garden web pros have taken the time to compare their extended warranties. If you have, I'd sure love to know which you like the best for major appliances. Thanks!

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live_wire_oak

Talk about from the frying pan to the fire! None of the box stores have anything substantially different in the aftermarket warranty department, except for Sears where it will cost you 3x as much. They are all pains to deal with and require that you use certain servicers that are more parts changers than appliance repair people.

Buying any appliance these days is a gamble. 95% of the people have no problems, or a single easily correctable problem. 5% have more than one issue. But, buying the extended warranty is giving money to the house. It's pure profit to them, and it's why they push it so hard. You're much better off placing the same $$ that your appliance costs into an account and paying for the repairs yourself. If the repairs approach 50% of the cost of the appliances, then it's time to spin the wheel again and buy another new one.

    Bookmark   July 17, 2014 at 10:42AM
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klem1

Extended warranties aren't worth the expense.

    Bookmark   July 17, 2014 at 11:02AM
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wekick

At one time I would not have bought extended warranties but appliances are not built like they used to be and it is a crpshoot. I would now.under some circumstances. Some things to go wrong are computer boards especially on ovens after self clean and porcelain oven liners, especially blue ones. The idea is to identify the areas of risk maybe by reading reviews and manage that risk. If you buy a simple gas oven, the repairs might be pretty straight forward and you would not need extended warranties. If you buy an oven run by computers, you might want to buy a service plan. I have a friend that had a board go out on her oven and her husband bought it on ebay for $35 and put it in. The same board on my oven, same brand billed at $1800(under warranty). You do have to carefully read the warranties and look for exclusions. For example, Electrolux excludes the porcelain from their service plans and there have been issues with it. Some appliances can only be repaired by their people so there is no way you can get bids. I would also look at Square Trade by costco. I have had bad luck with Best Buy wiggling out but my kids said they are much better now. I have not had a good experience with Sears. They refused to even honor the manufacturer's warranty. They buy appliances without warranties with idea that they provide the warranty. they told me they would only honor it if I had bought the extended warranty.

    Bookmark   July 17, 2014 at 11:57AM
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ativoli

Thanks for all the input. Very interesting to hear the different perspectives. I think it's also important to consider how much money one is plunking down for any given appliance. The more expensive the appliance, the more expensive the repairs and the more expensive it is to replace them. So I might go with @wekick and get extended warranties on only the expensive (and electronics heavy) appliances I buy and go with @klem1 and @live_wire_oak on the less expensive ones! Thanks again...

    Bookmark   July 17, 2014 at 6:20PM
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kksmama

Good luck. I've done well with extended warranties from Best Buy (washing machine) and from Sears (dishwasher). I think the warranties work well for us because of our heavy appliance use. The children play sports (lots of laundry) and are homeschooled (so we have breakfast, lunch, snacks and dinner at home most days). Remember that many credit cards extend manufacturers warranties.

    Bookmark   July 17, 2014 at 7:40PM
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ativoli

Thanks for the reminder about credit cards, kksmama! Will check mine out. Agree that heavy usage impacts the decision. Also, price. I am thinking I will get the extended warranties only on the most expensive pieces...

    Bookmark   July 18, 2014 at 9:21AM
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geoffrey_b

Beware of 3rd party warranties. Although the 'store' may be offering the warranty, it might be backed by a rinky-dink insurace company that could go belly up - and then you have just have a piece of paper.

    Bookmark   July 18, 2014 at 2:28PM
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mdln

Has anyone had experince with the extended warranty from Abt?

Abt gets such great reviews, wonder if theirs might be with it.

Here is a link that might be useful: Abt

    Bookmark   July 19, 2014 at 11:27PM
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ativoli

mdin, you are the second person in 24 hours to mention ABT (and their reviews really are great!) I see from their site that their extended warranties are via Squaretrade. Would like to learn more about them...

    Bookmark   July 20, 2014 at 8:23AM
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mdln

I have purchased many things (stoves, fridge, cameras, etc.) from them. They seem to have the lowest prices and will match a lower price from another store. Have never bought an extended warranty, so don't know what they charge or how good it is.

BTW - if you are in the area a visit to their showroom is a must. Their fishtank is aquarium quality and they have many kitchens set up that are the ultimate in luxury. Kind of like an art gallery of kitchens.

    Bookmark   July 20, 2014 at 8:54AM
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ativoli

mdin, I WISH I were in the area, but alas, am not so would be ordering from a distance no matter what. I'm closer to AJ Madison, but I'm worried by the terrible reviews they often get...

    Bookmark   July 20, 2014 at 8:57AM
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