extended warranties r they worth it?

0161lorraine

bought new fridge freezer tod and got persuaded to take out extended warranty , now not sure if this is good idea or not, wht do others think, is it likely to break beyond repair in nxt five yrs???

thks for reading

ormus

how much was the freezer and how much was the warranty?
and who was the retailer?

vansboy

You might feel the fridge costing £300 & a warranty £80, for 3 years not really good value (guessing the costs)

But on a fridge for £800 perhaps more worthwhile.

You might even find better value cover, directly from the maker of the fridge, once it's delivered. In fact, some brands have longer than standard 12months, so your retailer bought cover, is even worse value.

You are still able to cancel this additional insurance, within a specific period of time, after buying it - check your paperwork - & go for an alternative option.

http://www.warrantydirect.co.uk is one big name.

Also worth buying on Nationwide building Society, or Shell (petrol) credit card, as you'll automatically get a free further 12months cover, after makers expires, simply by registering your purchase with the cardf company.

Plus John Lewis have longer free warranties, together with option to extend, as well as a price match policy - but not the best range of electricals.

VB

nixinix

most the time I think they are a rip off....unless very high value product hth

Devon_Hippo

nixinix wrote: »

most the time I think they are a rip off....unless very high value product hth

or If it is something that could get damaged easily I bought extended warranty on my electric hedge trimmer - cut through the cord twice so far :rolleyes: (well, me and the wife are 1-1 on that )

For a fridge? probably not worth it

Airwolf1

I managed to get warranty for some laptops I bought, got it half price. And I've had to call the people out once. I probably wouldn't pay more than £50 for warranty though.

0161lorraine

think ill cancel it now as fridge freezer only cost £199.99 warranty was £69.99,,, prob not worth it like said, thks for replies

ormus

yes its crazy to get a warranty for a freezer that cost 199 quid.
john lewis do 2 yrs and 3 yrs warranty on all freezers inc for free.
extra 5 yrs warranty is only approx 40/70 quid depending on the model.

27col

I was offered a warranty for a kettle that had only cost £12. The assistant was clearly embarrassed at having to ask. But it was obviously part of his employment contract. I would never have a warranty sold by a retailer. If you are concerned, than put the warranty money away and save it. If the appliance develops a fault after the guarantee period, then you have at least some of the money to get it repaired or replaced. If it does not go wrong, then you will have the money to replace it after a few years in any case.
If you must have a warranty, then there are companies that sell them for much less than the retailer. The sale of overpriced warranties forms a good part of the retailer's profit. That's how they can afford to give discounts on the purchase price.

ormus

very true re their profits.
some electrical items get only 25% gross profits. ie sony only give 25% discounts to the retailer.
warranties get 50/60% profits.

cowbutt

About the only extended warranty that's sold that is worth it is Richer Sounds' "Supercare": http://www.richersounds.com/information.php?cda=static&cst=supercare_info