Extended Warranties
Feb 4, 2021 12:31:10 #
IDguy
Loc: Idaho
Here is some real data. IMHO Lens Rentals wear is far beyond normal use, particularly because of shipping.
https://wordpress.lensrentals.com/blog/2013/08/lensrentals-repair-data-2012-2013/
Also note that most of the things are repairs far lest costly than replacement.
https://wordpress.lensrentals.com/blog/2013/08/lensrentals-repair-data-2012-2013/
Also note that most of the things are repairs far lest costly than replacement.
Feb 4, 2021 12:41:47 #
Longshadow wrote:
Failures will occur, albeit low.
You're basically betting they will, the insurance company is betting they won't.
Guess who wins 90+% of the time?
You're basically betting they will, the insurance company is betting they won't.
Guess who wins 90+% of the time?
Kind of says it all! You’re just throwing good money away.
Feb 4, 2021 13:07:48 #
Extended warrantees are, literally, a crap shoot. Insurance companies issue them because they know that the odds are on their side that you won't need or use it, thus they make money on selling them. For you, it's gambling that, even though the odds are on your side, you won't be one of the small group who will have equipment failure and need the extended warrantee. I would guess that the odds are probably less than one in ten that you will end up having need of it. Your gamble is, are you OK with those odds, and how expensive is the insurance? Also keep in mind that the savings by not buying the extended warrantee can be used for repair, if necessary, thus defraying the the cost and reducing the value of purchasing the extended warrantee even further.
Remember, insurance companies are like the gambling "house". They always come out ahead.
Remember, insurance companies are like the gambling "house". They always come out ahead.
Feb 4, 2021 14:01:53 #
In general, extended warranty is like insurance - you bet you will need it, they bet you won't. Today's cameras usually are either bad out of the box, or last a very long time. It is your bet. I don't get those extended warranties.
Feb 4, 2021 14:13:59 #
If you are in store, ask to see the extended warranty and spend the time to read it right there. When I purchased my D850 a couple of years ago, salesperson said camera will be replaced, no questions asked. The fine print read up to $3,000 only and with a camera similar to the original, not brand new. So, if I drop my camera next week, you'll give me a used high shutter count camera as a replacement? His reply, we will work with you as a valued customer. To buy an extended warranty is your choice. Read the warranty in its entirety first.
Feb 4, 2021 14:46:01 #
clint f.
Loc: Priest Lake Idaho, Spokane Wa
cdayton wrote:
Remind me not to consult you for advice on ethical issues.
Who even thinks like that. Maybe it’s not theft if it’s from a company. Or the old ‘we screw the other guy and pass the savings on to you.”
Feb 4, 2021 15:40:23 #
Chiroman8 wrote:
Hello Hoggers,
You people always come through and I always value your opinions. I do a general consensus after and I'm usually satisfied with the results so far.
Is spending the extra money worth it for an extended warranty? The camera cost will be around $4000 or will I be better off spending that money on extra equipment ? Thank you kindly & Pax.
You people always come through and I always value your opinions. I do a general consensus after and I'm usually satisfied with the results so far.
Is spending the extra money worth it for an extended warranty? The camera cost will be around $4000 or will I be better off spending that money on extra equipment ? Thank you kindly & Pax.
At no time have I wished I took out an extended warranty on anything - photo-related or other.
Feb 4, 2021 16:27:00 #
bikerguy wrote:
How many other items have you purchased that you bought an extended warranty and the item never failed?
None! I never bought any extended warranty. In my post I said it would have cost me $175 but still didn't cover the repair as the failure was after the 4 year extended warranty.
Feb 4, 2021 17:04:17 #
Sidwalkastronomy
Loc: New Jersey Shore
you never mentioned if it's a grey market camera as they push a BS warranty. I personally avoid grey matket
Feb 4, 2021 17:28:06 #
Miami39
Loc: Florida
I think that it is important to know who is issuing the extended warranty. If it’s a store, I would pass. It also might limit where it can be serviced.
Feb 4, 2021 18:44:13 #
John Hicks
Loc: Sible Hedinham North Essex England
There is a company in the UK called domestic and general they offer exceptional service for low rates, it gets broken if they cannot repair it they replace it
Feb 4, 2021 19:23:09 #
crushr13
Loc: Sacramento, CA
For me, it all depends on who the extended warranty is purchased from.
If it is the store, I usually pass, because it takes so much longer, and usually becomes uncovered, or not repaired/restored as well.
If it is the manufacturer, they usually seem to cover more things, take less time (since it is a direct action, and things come back in much better condition than expected.
I have had experiences using both types, and the manufacturer's extended warranty has never disappointed me with the result, where with the store warranty, I am usually disappointed to some degree, and it usually takes so much longer.
If it is the store, I usually pass, because it takes so much longer, and usually becomes uncovered, or not repaired/restored as well.
If it is the manufacturer, they usually seem to cover more things, take less time (since it is a direct action, and things come back in much better condition than expected.
I have had experiences using both types, and the manufacturer's extended warranty has never disappointed me with the result, where with the store warranty, I am usually disappointed to some degree, and it usually takes so much longer.
Feb 4, 2021 20:01:10 #
Feb 4, 2021 21:18:19 #
IMO, just short of a scam. How many "Extended Guarantee" offers for your car, your house, or whatever, do you get online every week? Even the insurance you are required to have - you are betting something bad will happen. They are betting it won't. House Wins.
Feb 5, 2021 09:13:15 #
I only insure (or pay warranty) things I cannot afford to insure myself...liability, house and body. Cars, cameras, popcorn makers I can afford to replace. Lifetime I'm coming ouy waaaay ahead using this approach.
If you want to reply, then register here. Registration is free and your account is created instantly, so you can post right away.