my husband always refuses them..
thinking of it for Frigidaire oven
I don't get them either.
If you do refuse an extended warranty, be sure to run the self-cleaning program a few times before the regular warranty expires.
I got them from my appliance store for the oven and cooktop I bought. They were not much money and they were really comprehensive. Also, my store has some kind of deal where if you don't use it, you get money back as a credit toward another appliance or something like that. That said, I don't think this is probably a rational choice. I don't think it is generally considered to be financially wise to get them. I just thought of it as part of the purchase price, and I have some peace of mind.
My general rule is the same as your husband's. My expectation is that these are lose twice propositions: 1) its priced so that the warranty writer will make a profit on it, and 2) it is inconvenient to be locked in to the particular service process under the extended warranty if/when something does go wrong. Additionally, a portion of the warranty is doubling up on the mfg. warranty.
So why get it? If you can't self-insure (i.e., if the item breaks it'll break your budget) it may be difficult to sleep at night without it.
Also, sometimes you may know something that the insurer doesn't. E.g., a store will sell you an extended warranty based on the sticker size. But if you're buying a new technology there may be more likelihood of problems on that product than the store would see in the population of all similar products. Then you can get over on warranty writer.
I'm in the market for an appliance with lots of recently introduced components which haven't been tested in market for reliability, so may be looking to get the extended warranty, depending on the strength of the mfg. warranty.
If you like the words "electronic controls" and "self clean" applied to the same item, best to write that check for extended warranty. Even then, you can look forward to indifferent attention to your needs.
We did last time and were glad we did. This time, I'm thinking I'll "self-insure" everything but the refrigerator, which is an expensive item, I'm sure expensive to repair, and the warranty is expensive too. None of the other appliances is over $2000 individually.
I did for our new range. I don't usually. Why? Really, I suppose gut instinct is what won the day, but the actual logical bit is like this. We cook, a lot. Full dinners, baking, dinner parties. From what I understand of the rest of the world, we're probably well above average on use of a range. Ergo, it's more likely to have things break (well, if there's any logic in breakages, of course!). Ergo...extended warranty--the cost is averaged across everyone, so if we're well above average in use, we're more likely to beat the system (aka, need it).
I'd also figured out how much I was interested in spending, max, for the full purchase, and since we got a floor model, completely unexpectedly, and a floor model backsplash, I could afford the extended warranty & not go over my "budget". Won't know if it was a win or not for about 5 years, I suppose!
I usually do. When we bought our range before our kitchen gut, we knew it would be sitting for a bit before we got to install and use it. And it was from Sears Outlet, so I bought a 3rd party warranty. It's an Electrolux with the touch back panel so lots of opportunity for $$$ parts. I recently filed a claim because one of the LCD dashes of the upper oven temp went dim. The warranty company said they couldn't find a local repair tech and refunded me the purchase price of the range. The $75 warranty was well worth it.
I have twice. Once on a stereo receiver MANY years ago, which surprisingly did get used. However, I had to take the unit back to the store of purchase which was 2.5 hrs away.
Second time was on a washer & dryer. The dryer (which I still use) is a "newfangled" design and the warranty cost wasn't excessive. Several years ago the unit developed a squealing/rattling noise indicating a mechanical part was wearing. I called and the warranty issuer refused to provide service because the machine wasn't yet non-functional. It has to be completely dead to claim service under the contract terms. Ended up the noise stopped after a few months so service hasn't yet been necessary. The warranty expired, I did not renew it.
Nicole6, what is the name of the third-party warranty company you used (and dadoes, what is the name of the one YOU used for the washer/dryer -- to be avoided, of course)?
Maytag Extended Service Plans
The machines for which I bought plan are not Maytags ... Maytag's plan is what the dealer sold and any brand can be covered.
I would recommend finding out if you get to select which company provides the warranty service.
I wouldn't pay anything if A&E is the one who is going to be providing the service.
Just google around for the A&E horror stories. I'm pretty sure we had a thread here about them too. I (attempted to) use A&E for warranty service in a Whirlpool fridge and had such a repeatedly bad experience that I almost can't even say the name without feeling my blood pressure spike.
This post was edited by patriceny on Fri, Nov 15, 13 at 15:35
I used Squaretrade. I've had many warranties with them over the years, but the range was my first claim. Very happy with the outcome.
Darn - I already know the horror stories about A&E (faced them ourselves, particular with our dishwasher drawers), and unfortunately, Squaretrade does not cover my refigerator (the max price they cover is $2500). Oh well, back to the drawing board!