Is the Sears 5 year fridge warranty worth the $550?
We recently decided to buy the Whirlpool 28 cf french door fridge with an additional pull-out drawer on the outside of the fridge plus ice and water dispenser. The fridge is normally $3000, but Sears had it on sale for July 4th for $2199. Unfortunately, we just missed that sale! (It is now $2425 online and $2699 in store.) Today a sales associate at Sears (from whom we have purchased appliances in the past) offered to honor the $2199 July 4th sale price...but only if we buy a five year warranty for an extra $550!
We are trying to decide if this extra warranty is worth that much money. In the past we have bought the warranty and never used it. However, this fridge is a french door with ice and water on the outside, and I am not sure if that is more likely to break. The fridge comes with a one year warranty, and we will get an additional year of warranty by purchasing with AmEx. That said, by getting the July 4th discounted price, that would sort of buy us 50% of the five year warranty compared to the current fridge price. Then again, maybe there will be a good sale again between now and when we need to purchase by early September?
I welcome input on the Sears protection plan. Is it worth it? How likely is it that we will need it?
Thanks so much!