Are extended warranties on gadgets worth the price?

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  • DVD Taylorsville, 00
    Dec. 7, 2013 6:24 a.m.

    So, wondering, if I bought a new game system, and with or without the extended warranty, and it was broken somehow - when I send it in, does it go back to the factory it was originally built in?

    Apparently, we're still seeing the forced slave-labor conditions in China as before, because of peaks in demand, so if I send in my system, does it add to their burden, or does it go to an American company that actually gets paid for the work done?

  • River Dog Salt Lake City, UT
    Dec. 7, 2013 5:35 a.m.

    Perhaps the exception to this is to buy an extended warranty plan for Apple products. I have returned a computer to the Apple store almost two years after purchase. They replaced the screen and disk-drive for free. Otherwise it would have cost hundreds of dollars to repair. Apple's warranty plans are good and well worth the money.

  • Hutterite American Fork, UT
    Dec. 6, 2013 10:53 p.m.

    I, on the other hand, do recommend gambling (in moderation, of course) but do not ever purchase extended warranties, and don't recommend them to others. Like the article says, if you want to put money on such a warranty, put it into getting a gadget with a one year manufacturers warranty and end up with a better unit.

  • liberal larry salt lake City, utah
    Dec. 6, 2013 8:57 p.m.


    The very first time I put a quarter in a slot in Vegas I won $12.50, but I don't recommend gambling!

  • CHS 85 Sandy, UT
    Dec. 6, 2013 1:54 p.m.

    I know the $7.95 warranty I bought for my Blu-Ray player paid for itself when it died after six months. The warranty company sent me a gift card, and I simply went and bought a new Blu-ray player. Saved me $59.

  • cowboy99 South Jordan, UT
    Dec. 6, 2013 1:18 p.m.

    Here's the rule of thumb for insurance: DO NOT insure anything you can pay to replace. Phones, ipods, tablets and in some cases cars when compared to healthcare and homes are really cheap.

  • liberal larry salt lake City, utah
    Dec. 6, 2013 1:11 p.m.

    Only a small fraction of premiums paid to insure small gadgets is ever paid paid back to the consumer in the form of replacements or repairs. Warranty plans are a hugh source of profit for retail outlets and the wise consumer should just plan on taking good care of their stuff and insuring themselves. According to Motley Fool contributor Rick Smith:

    "According to Consumer Reports, stores tend to earn 50 percent or better gross profit margins on warranties they sell."

    By buying an extended warranty you are essentially betting the item with break, our odds are much better putting your money on "red" in Wendover!