I always feel really torn about this one. I want the company to stand behind their product without me having to buy an insurance policy on it - which is basically what an extended warrenty is.

I have bought one for computers and digital cameras because they tend to break and are very expensive to fix. But we didn't buy them on the fridge, stove, washer, dryer, etc. It made the whole shopping experience feel yucky. They tried to 'guilt' us into buying it, because they get a commission on it and we left not feeling good about our purchase but wondering if it was going to last and if we had made a good choice.

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I know what you mean. While they are selling you the product, they are singing it's praises and telling you how great it is, then they turn around and tell you how crappy it is and try to sell you the extended warranty! I don't buy them, I think they are a waste of money.

My parents recently bought all new appliances for their kitchen and bought the extended warrenty on everything (double oven, cooktop, microwave, dishwasher and side by side fridge). Good thing they did because they have already had each appliance looked at at least once. With the fridge they had it looked at 3 times and replace 2 parts already. The warranty they have says if it can not be fixed after the 3rd time they will replace it. Same thing has happened with their big screen, just went out a few months ago so they were given a brand new one. Sometimes they are a good investment.

On the other hand, dh and I never get the extended warranty. Everything always seems to go bad after the warranty is up anyway.

We only buy warranties for 2 things Video Game Systems and TVs with a non glass screen. It is good that we paid for a warranty for my husbands Xbox 360 it stopped working and we were able to go to the store and pick up a new one with no questions asked. I think the $39 for the warrantly was much better than coming up with another $300+ dollars to replace it.

I don't bother with warranties for appliances since when they typically fail it is due to a power outage or surge and that is covered by our insurance company.

Jen

I've read too many experts that say don't waste your money on extended warranties. I don't remember where, but I read about two exceptions: laptop computers (because they're portable and subject to more abuse) and plasma TVs (because they're new enough that manufacturer's don't really know what can go wrong with them or how soon).
I also remind myself every time I'm asked to purchase one that the salesperson gets a bonus or a commission or some kind of reward for selling them.

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~Jeweled

Yes we do. If we're paying more than $100 for it, we are getting the warranty.

We bought a tv and about a week after the 30-days was up, the tv started giving us problems with the sounds. They wouldn't/couldn't do anything because we didn't buy the warranty.

I never buy them and never had a problem. I think their a waste of money. Now if I ever buy a fancy tv or fridge sounds like I might have to.

We get them on certain things. Dishwasher, fridge, stove, .... things like that YES.... when you spend the money what is a nother $90 for the extended 5 year plan. We got a year with our gril and had to use it. We didn't buy the extended but we had to have sears come out and fix the lid on our grill.

Generally no, but it depends on the item and the warranty.

My first question is, "Can I afford to replace this item if something goes wrong?" Usually the answer is yes. I may not WANT to replace the item, but I can usually afford to replace it if it doesn't last as long as I'd like.

THAT is the main reason for insurance, after all. Can I afford to replace my house if it burns down? No, therefore, I have homeowner's insurance. Can I afford to pay for major medical expensive if I get sick? No, therefore I have medical insurance. Do I have optical insurance or medical insurance on my dog? No. I can afford an eye appointment every couple of years and the cost of glasses and contacts. If my dog gets sick, it better not be anything too serious.

So, while I think it is horrible to have a major appliance break down soon after I purchase it, sometimes that is the luck of the draw. If I added up all the money I could have spent on extended warranties over the years, I saved thousands of dollars by not buying them, therefore, allowing me to afford to replace the rare dud I may end up buying.

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"I've been rich and I've been poor but independently wealthy is where it is at."

It depends on how much we paid for the item and if we feel we could replace it if need be. For example, last year we bought an oven and a refrigerator. We bought the extended warrenty for the refrigerator but not for the oven.