extended warranties on appliances-- yea or nay?

lori_inthenw_gwOctober 2, 2013

We generally go the "self-insured" route as it seems that is financially beneficial in the long run, so I would automatically lean towards the Nay side. But we are building a new house on a ferry-served island, no service could be an issue, plus I read a lot about appliance failures nowadays, so I am questioning my knee-jerk reaction. I do realize people tend to make more noise when unhappy than happy, so failures may be over-represented. Thoughts?

Thank you for reporting this comment. Undo
wekick

Look at where the complaints are-electronics, blue enamel ;-) , ice makers. If you have appliances with these and can't fix yourself consider an extended warranty with a reputable company.

    Bookmark   October 2, 2013 at 4:39PM
Thank you for reporting this comment. Undo
lori_inthenw_gw

Good points. Not sure if we will hook up ice maker or not. (Leibherr. Maybe.Hinge clearance issues may force me to get over the sticker shock.) I think our only blue enamel will be on the inside of the Elux oven. We don't use self-cleaning much, if ever. Looking at Bosch for DW and Zephyr for hood, Bosch induction.

Doesn't everything have electronics now, though? I guess that's the biggest unknown to me, and not something we know how to fix!

I always thought of extended warranties as something you got at the time of purchase-- yes or no? Can you get them independently?

    Bookmark   October 2, 2013 at 4:51PM
Thank you for reporting this comment. Undo
wekick

The thing you worry about going wrong is often not the thing that goes wrong. I worried about computer boards and my Electrolux oven just had the liner replaced(blue enamel chipping) through an extended warranty. The warranty was by the appliance company itself and even though they had closed in our area they stood by the warranty. There have not been the issues with Elux recently as there have been with Wolf. I never have been one to buy the extended warranties until this round of appliances. Make sure you get everything in writing and read all the exclusions. Do not believe what the sales person tells you. It is hard to determine who is reputable but you minght try to find out and let that be one of the determining factors in who you buy from.

    Bookmark   October 2, 2013 at 8:38PM
Thank you for reporting this comment. Undo
nerdyshopper

There are private extended warranty companies. I found out by buying something at Amazon.com and selecting the extended warrantee offer. It was supplied by a private company. Sorry, but it would be difficult for me to find that now. You might find a link at their site.

    Bookmark   October 2, 2013 at 8:59PM
Thank you for reporting this comment. Undo
hammerslammer

Check out squaretrade.com. I think their pricing depends on the amount and duration of coverage you choose. I currently have my large screen television covered by them. I haven't needed to file a claim yet, but I feel pretty confident about this insurer based upon their reviews by others.

    Bookmark   October 3, 2013 at 10:57AM
Thank you for reporting this comment. Undo
sjhockeyfan325

thanks for the squaretrade recommendation - they do get a lot of good press/reviews. I've checked others against the prices I was quoted by the retailer, and most were about the same price for a shorter term than the retailer was offering, so it will be interesting to see what squaretrade has to offer. I've emailed them.

    Bookmark   October 3, 2013 at 12:02PM
Thank you for reporting this comment. Undo
sjhockeyfan325

As a follow-up, Squaretrade does not provide coverage for refrigerators over $2,999 cost.

    Bookmark   October 3, 2013 at 5:46PM
Thank you for reporting this comment. Undo
Suzi AKA DesertDance

JMHO. Years ago, we had a Kenmore fridge. We bought the extended warranty.

At the time, I taught painting lessons in my garage, and the girls noticed something burning. It was the motor in the fridge. How do I know this? 911 fire department confirmed. So I called Sears.

Luckily our warranty expired the next day, and we were covered, so I'm thinking "YES," to warrantys!

Suzi

    Bookmark   October 5, 2013 at 6:00PM
Thank you for reporting this comment. Undo
jellytoast

KitchenAid sends me an extended warranty application at least once a week. They seem much more interested in selling extended warranties than in honoring their standard warranty. If current service is an indication of future service, I don't see the point.

    Bookmark   October 5, 2013 at 8:09PM
Thank you for reporting this comment. Undo
a2gemini

We usually self insure. Many newer appliances are offering longer warranties.
The exception was our Miele DW. For some reason, I bought one and at 4.5 years- the lemon died. In all fairness- it turned out the incompetent service from our local appliance store caused the problems.
We replaced with another Miele and bought the warranty through Miele. I am regretting not getting a plan for our wolf oven but keeping my fingers crossed.
Our current Miele and our fridge are pushing 4 years. The others are less than 2.

    Bookmark   October 6, 2013 at 7:46AM
Thank you for reporting this comment. Undo
susanlynn2012

I think that Kenmore Refrig. with the motor burning was made by LG as mine did that also. I always thought extended warranties were a waste of money but I think for today's appliances they are becoming necessary.

    Bookmark   October 6, 2013 at 10:16AM
Thank you for reporting this comment. Undo
hammerslammer

There once was a time when nearly every brand new appliance would offer a decade or more of trouble-free operation. Even those that occasionally failed could be repaired for far less than the cost of replacement. However, times have obviously changed. There are two things about the modern kitchen that decrease the lifespan and increase the expense of maintaining today's appliances.
1. The "built-in" look has become very trendy. While this may lend itself to a more pleasing aesthetic, it often inhibits proper air circulation around appliances which are installed in this manner. One notable example would be the refrigerator. There are fins on refrigerator coils that are prone to dust accumulation. This is especially true in kitchens where airborne grease is not being sufficiently removed by the exhaust hood above the range. Grease will collect on the fins, making them a magnet for dust. As the dust accumulates, air flow through the fins becomes increasingly limited and typically prompts early component failures on the refrigerator. All appliances produce a certain amount of heat. If proper air circulation is also compromised by surrounding cabinetry, it's almost a given that your appliance will not deliver the performance and life expectancy that you desire.
2. Today's appliances are ultra sensitive to their environment. This is due to the myriad number of printed circuit boards that modern appliances incorporate. Digital electronics have the ability to greatly enhance the features and benefits that continue to amaze us with each new model introduction. Unfortunately, the downside is that the components which use digital electronics are vulnerable to voltage fluctuations, heat and vibration. Even a passing thunderstorm poses a threat that shouldn't be taken lightly. Many utility companies recognize this and offer whole house surge protection as a supplemental service, although it isn't foolproof by any means. When you combine inadequate air circulation and the unstable current flow that every home electrical system routinely experiences, the potential for appliance failure is ever-present.

Bottom line: Follow the manufacturer's guidelines regarding appliance installation. Ask your utility company about surge protection devices. Consider extending the warranty on any appliance that involves significant expense to purchase or maintain.

    Bookmark   October 6, 2013 at 11:06AM
Thank you for reporting this comment. Undo
applnut

I used to be in the self-insure category thinking extended warranties a waste. Then I bought the most expensive appliances we'd ever had and, at that price point, the extended warranty for another $500 was a "bargain." Unfortunately, it's been worth every penny, and then some. We've used it a LOT and I'm a convert. I'd now never have a $5,000+ product without one. Just too risky.

    Bookmark   October 6, 2013 at 11:42AM
Thank you for reporting this comment. Undo
clarabelled

Can someone clarify what self-insuring means? I bought a warranty at the appliance store but not through the manufacturer. It's a private company called New Leaf, I think? $200 to cover an electrolux induction range and bosch dw for five years. Honestly, I didn't know if I should buy it or if this was a good deal or if I was being naive by buying it. Any thoughts?

    Bookmark   October 7, 2013 at 1:47PM
Thank you for reporting this comment. Undo
lori_inthenw_gw

Clara, basically it just means you take your chances! If you add up all the things you buy in a year, for example, and the cost of all the extended warranties, you just hope that any lemon you happen to get, even if you have to eat the cost of replacing it, will not cost as much as what you would have paid by buying all those warranties. Of course the more expensive the item, the riskier. If only we knew which things would be the lemons! But then, of course, we wouldn't buy them.

I don't know if your example was a good buy or not. If it gives you peace of mind, then it's worth it. Or if one of them goes on the blink the day after the regular warranty expires-- then you'll be patting yourself on the back for sure!

    Bookmark   October 7, 2013 at 1:57PM
Thank you for reporting this comment. Undo
kksmama

It is worth considering how much you use the appliance relative to an "average" consumer. I bought (and used) extended warranties for my washing machine and dishwasher because we ran each appliance at least once per day. My parents are in a different phase of life and use their appliances much less often.

    Bookmark   October 9, 2013 at 6:17AM
Sign Up to comment
More Discussions
Convection Microwave vs Speed Cook Microwave Help
We are remodeling our basement to include a kitchenette...
Teresa Cooper
New Bertazzoni Induction Range?
I just saw a press release from Bertazzoni about a...
anyajg
American Range? Buyer Beware!
It is with big frustration that I am reporting an unacceptable...
foodiefrog
Bosch Benchmark Policy....
I live in the FL Keys, and we have very few options...
cudjoegal
Questions on Bosch and Wolf induction - min. pan sizes
Hi, I have been reading posts on this forum for quite...
houztongirl
People viewed this after searching for:
© 2015 Houzz Inc. Houzz® The new way to design your home™