Large screen t.v. extended warranties.

[techs]

I think there was a thread on this awhile back, but my search skills fail me.
I am getting a 52 inch lcd soon. I want the extended warranty.
How much and how long is a good/best deal?
Should I get it from the B&M store I by the tv from?

I live in Vermont and some warranty companies have given me grief, one even refunded my money rather than come out to may house to fix a piece of exercise equipment, so a reliable company is important.

ANY help on this would be great. Even pointing me to other thread in this or other forums.
Thanks in advance.

 

[YOyoYOhowsDAjello]

If you search for "mack" on avsforum, you'll get a lot of threads relating to 3rd party warranty service.

 

[Pardus]

squaretrade

 

[Old Hippie]

IIRC, there's two biggies...Mack and CPS.

Both @ the same price but with some length of contract differences.

I actually bought Mack first, then cancelled and went with CPS because of the provider in my area.

I got all my info from AVS.

 

[djnsmith7]

I bought a 4 year EW when I bought my 58" plasma last year at Best Buy. They gave me a killer deal on the display & worked a good deal on everything else in the package. I know there are a lot of non-BB supporters here & that's understandable, as not everyone has had favorable experiences with their stores. Considering the deal I got & that if I have even 1 dead pixel or I'm not satisfied with the technician's 3 attempts to fix whatever problem arises, I get a BB gift card for the full purchase price of the display. Right now, that would actually buy me Samsung's top of the line & largest LED display. So yes, I would recommend BB as an option, especially since you're interested in purchasing an EW.

 

[s44]

Remember, many credit cards give you a 1 year extension.

 

[Slick5150]

Squaretrade is a good option in my opinion. With the 30-40% off codes that are often available, you can get a very nice price on a warranty

 

[Koing]

I got in on the 5yr warrenty on my 50" plasma screen from Panasonic 🙂 5yrs of piece of mind with no extra cost. I'm happy.

Koing

 

[erwos]

Went with Mack on my KDS-55A3000.

 

[Setec Astronomy]

Originally posted by: djnsmith7
if I have even 1 dead pixel or I'm not satisfied with the technician's 3 attempts to fix whatever problem arises, I get a BB gift card for the full purchase price of the display. Right now, that would actually buy me Samsung's top of the line & largest LED display.

I just want to clarify some things about BestBuys's warranty coverage on Tv's as the above information is incorrect.

The only situation a customer will be provided store credit (of a to be determined amount) in which to use on a new TV is in the following cases
-The TV cannot be repaired / Best Buy deems it too expensive to repair
-The necessary part to repair the set is not available or backordered/delayed significantly
-The Tv has had a total of 3 previous 'qualifying' repairs and needs a 4th. Qualifying repairs typically must require part replacement, adjustments or even "reconnections" may not be considered a 'qualifying' repair. Instead of the set being repaired the 4th time "junkout exchange" aproval is given

If your tv is aproved for an exchange you are entitled to a COMPRABLE tv. A COMPRABLE tv does not mean you get store credit for your purchase price. If your tv was 4k when you bought and the closest tv which would still be an upgrade is 2k you get 2k store credit. Technically this credit could be used on somthing other than a tv though its not common. if you want a better tv YOU STILL GET 2K credit you would have to pay the diference to get a more expensive TV.

Any employee/manager who tells you get full purchase price credit is lying or misinformed. Any employee/manager who allows you to do this is violating company policy and is risking diciplinary action.

 

[kalrith]

Originally posted by: Slick5150
Squaretrade is a good option in my opinion. With the 30-40% off codes that are often available, you can get a very nice price on a warranty

That's what I was going to post. It's nice that you can buy the TV and then add the EW any time within the first year (I think).

 

[techs]

Originally posted by: djnsmith7
I bought a 4 year EW when I bought my 58" plasma last year at Best Buy. They gave me a killer deal on the display & worked a good deal on everything else in the package. I know there are a lot of non-BB supporters here & that's understandable, as not everyone has had favorable experiences with their stores. Considering the deal I got & that if I have even 1 dead pixel or I'm not satisfied with the technician's 3 attempts to fix whatever problem arises, I get a BB gift card for the full purchase price of the display. Right now, that would actually buy me Samsung's top of the line & largest LED display. So yes, I would recommend BB as an option, especially since you're interested in purchasing an EW.

Maybe I'm missing something but do Plasma t.v.'s have "dead pixels"?

 

[kalrith]

Originally posted by: techs

Originally posted by: djnsmith7
I bought a 4 year EW when I bought my 58" plasma last year at Best Buy. They gave me a killer deal on the display & worked a good deal on everything else in the package. I know there are a lot of non-BB supporters here & that's understandable, as not everyone has had favorable experiences with their stores. Considering the deal I got & that if I have even 1 dead pixel or I'm not satisfied with the technician's 3 attempts to fix whatever problem arises, I get a BB gift card for the full purchase price of the display. Right now, that would actually buy me Samsung's top of the line & largest LED display. So yes, I would recommend BB as an option, especially since you're interested in purchasing an EW.

Maybe I'm missing something but do Plasma t.v.'s have "dead pixels"?

[sarcasm] Yes, if djnsmith7's plasma gets dead pixels or when the plasma leaks out, the BB EW will cover it! And just think all that coverage for the low, low price of $500!!! But I'm sure they knocked $500 off the price of the TV, so he basically go the warranty for free. [/sarcasm]

Unfortunately the "killer deal" at BB was probably the same price or more than it would be on Amazon, and the EW was pure, golden profit for BB (because there's about a 1 in a 100 chance that there will be a problem with the TV after the regular warranty runs out).

 

[techs]

Originally posted by: kalrith

Originally posted by: techs

Originally posted by: djnsmith7
I bought a 4 year EW when I bought my 58" plasma last year at Best Buy. They gave me a killer deal on the display & worked a good deal on everything else in the package. I know there are a lot of non-BB supporters here & that's understandable, as not everyone has had favorable experiences with their stores. Considering the deal I got & that if I have even 1 dead pixel or I'm not satisfied with the technician's 3 attempts to fix whatever problem arises, I get a BB gift card for the full purchase price of the display. Right now, that would actually buy me Samsung's top of the line & largest LED display. So yes, I would recommend BB as an option, especially since you're interested in purchasing an EW.

Maybe I'm missing something but do Plasma t.v.'s have "dead pixels"?

[sarcasm] Yes, if djnsmith7's plasma gets dead pixels or when the plasma leaks out, the BB EW will cover it! And just think all that coverage for the low, low price of $500!!! But I'm sure they knocked $500 off the price of the TV, so he basically go the warranty for free. [/sarcasm]

Unfortunately the "killer deal" at BB was probably the same price or more than it would be on Amazon, and the EW was pure, golden profit for BB (because there's about a 1 in a 100 chance that there will be a problem with the TV after the regular warranty runs out).

Is that the same as warp plasma?

btw I bought an ew on my Sony RPTV about 5 years ago and I needed service at the 4.5 year mark. According to the repairman the service call would have cost more than the ew so I made out.

 

[kalrith]

Originally posted by: techs
btw I bought an ew on my Sony RPTV about 5 years ago and I needed service at the 4.5 year mark. According to the repairman the service call would have cost more than the ew so I made out.

RPTV is the one that I would actually recommend getting an EW on (still not from BB though). I read a CR report about 3 years ago that showed that 3% of LCDs and plasmas have major problems compared with 10% of RPTVs. Also, RPTV EWs often cover bulb replacements as well.

My assumption was that 2/3 of the problems occur during the first year (or two years if your cc automatically adds a year to the warranty), therefore making only 1% of flat-panel TV owners making use of their EW. Also, studies have shown a much higher fail rate for budget-brand TVs (Vizio, Westinghouse, etc.) and flat-panel TVs are probably more reliable than they were 3 years ago, so if you buy a current flat-panel TV from a reputable brand, then there's probably much less than a 3% fail rate for that TV.

Even if we assume there is a 3% fail rate and we assume that TVs only fail during the EW period, BB still charges something like 20% of the purchase price of the TV for their EW, which makes their profit margin 85%!!! Obviously it's much higher than that since the problems that do occur are usually within the first year.

 

[djnsmith7]

Originally posted by: techs

Originally posted by: djnsmith7
I bought a 4 year EW when I bought my 58" plasma last year at Best Buy. They gave me a killer deal on the display & worked a good deal on everything else in the package. I know there are a lot of non-BB supporters here & that's understandable, as not everyone has had favorable experiences with their stores. Considering the deal I got & that if I have even 1 dead pixel or I'm not satisfied with the technician's 3 attempts to fix whatever problem arises, I get a BB gift card for the full purchase price of the display. Right now, that would actually buy me Samsung's top of the line & largest LED display. So yes, I would recommend BB as an option, especially since you're interested in purchasing an EW.

Maybe I'm missing something but do Plasma t.v.'s have "dead pixels"?

The frame of reference was to indicate that if anything went wrong with the display & the service technicians are not able to correct the problem after 3 attempts, whether it be a dead pixel or anything not pertaining to physical damage, BB would issue a gift card & the display would be returned to BB.

I know the T's & C's of the BB EW on displays & I know the GC policy works, as I've used it before with a Toshiba display a few years ago.

 

[djnsmith7]

Originally posted by: kalrith

Originally posted by: techs

Originally posted by: djnsmith7
I bought a 4 year EW when I bought my 58" plasma last year at Best Buy. They gave me a killer deal on the display & worked a good deal on everything else in the package. I know there are a lot of non-BB supporters here & that's understandable, as not everyone has had favorable experiences with their stores. Considering the deal I got & that if I have even 1 dead pixel or I'm not satisfied with the technician's 3 attempts to fix whatever problem arises, I get a BB gift card for the full purchase price of the display. Right now, that would actually buy me Samsung's top of the line & largest LED display. So yes, I would recommend BB as an option, especially since you're interested in purchasing an EW.

Maybe I'm missing something but do Plasma t.v.'s have "dead pixels"?

[sarcasm] Yes, if djnsmith7's plasma gets dead pixels or when the plasma leaks out, the BB EW will cover it! And just think all that coverage for the low, low price of $500!!! But I'm sure they knocked $500 off the price of the TV, so he basically go the warranty for free. [/sarcasm]

Unfortunately the "killer deal" at BB was probably the same price or more than it would be on Amazon, and the EW was pure, golden profit for BB (because there's about a 1 in a 100 chance that there will be a problem with the TV after the regular warranty runs out).

You don't know anything about the deal I got, but here's what I will tell you. I paid roughly $400 less than the lowest advertised price on Amazon at the time of purchase.

 

[djnsmith7]

Originally posted by: Setec Astronomy

Originally posted by: djnsmith7
if I have even 1 dead pixel or I'm not satisfied with the technician's 3 attempts to fix whatever problem arises, I get a BB gift card for the full purchase price of the display. Right now, that would actually buy me Samsung's top of the line & largest LED display.

I just want to clarify some things about BestBuys's warranty coverage on Tv's as the above information is incorrect.

The only situation a customer will be provided store credit (of a to be determined amount) in which to use on a new TV is in the following cases
-The TV cannot be repaired / Best Buy deems it too expensive to repair
-The necessary part to repair the set is not available or backordered/delayed significantly
-The Tv has had a total of 3 previous 'qualifying' repairs and needs a 4th. Qualifying repairs typically must require part replacement, adjustments or even "reconnections" may not be considered a 'qualifying' repair. Instead of the set being repaired the 4th time "junkout exchange" aproval is given

If your tv is aproved for an exchange you are entitled to a COMPRABLE tv. A COMPRABLE tv does not mean you get store credit for your purchase price. If your tv was 4k when you bought and the closest tv which would still be an upgrade is 2k you get 2k store credit. Technically this credit could be used on somthing other than a tv though its not common. if you want a better tv YOU STILL GET 2K credit you would have to pay the diference to get a more expensive TV.

Any employee/manager who tells you get full purchase price credit is lying or misinformed. Any employee/manager who allows you to do this is violating company policy and is risking diciplinary action.

I've been through the entire process once before with a previous display, so I know the process works as I described it. I received a GC for the full purchase price of the display.

 

[kalrith]

Originally posted by: djnsmith7

Originally posted by: kalrith

Originally posted by: techs

Originally posted by: djnsmith7
I bought a 4 year EW when I bought my 58" plasma last year at Best Buy. They gave me a killer deal on the display & worked a good deal on everything else in the package. I know there are a lot of non-BB supporters here & that's understandable, as not everyone has had favorable experiences with their stores. Considering the deal I got & that if I have even 1 dead pixel or I'm not satisfied with the technician's 3 attempts to fix whatever problem arises, I get a BB gift card for the full purchase price of the display. Right now, that would actually buy me Samsung's top of the line & largest LED display. So yes, I would recommend BB as an option, especially since you're interested in purchasing an EW.

Maybe I'm missing something but do Plasma t.v.'s have "dead pixels"?

[sarcasm] Yes, if djnsmith7's plasma gets dead pixels or when the plasma leaks out, the BB EW will cover it! And just think all that coverage for the low, low price of $500!!! But I'm sure they knocked $500 off the price of the TV, so he basically go the warranty for free. [/sarcasm]

Unfortunately the "killer deal" at BB was probably the same price or more than it would be on Amazon, and the EW was pure, golden profit for BB (because there's about a 1 in a 100 chance that there will be a problem with the TV after the regular warranty runs out).

You don't know anything about the deal I got, but here's what I will tell you. I paid roughly $400 less than the lowest advertised price on Amazon at the time of purchase.

OK, then enlighten us with details of the deal you got. What TV did you buy? What was included in this "deal" that you got at BB (EW, accessories, delivery, etc.)? What was the entire price you paid for all of that before tax?

I will say that sometimes Amazon doesn't have the best prices on previous-gen TVs (their deals on these TVs fluctuate), so it's definitely possible to pay less at BB than at Amazon; however, this doesn't mean it's a good price.

 

[djnsmith7]

Originally posted by: kalrith

Originally posted by: djnsmith7

Originally posted by: kalrith

Originally posted by: techs

Originally posted by: djnsmith7
I bought a 4 year EW when I bought my 58" plasma last year at Best Buy. They gave me a killer deal on the display & worked a good deal on everything else in the package. I know there are a lot of non-BB supporters here & that's understandable, as not everyone has had favorable experiences with their stores. Considering the deal I got & that if I have even 1 dead pixel or I'm not satisfied with the technician's 3 attempts to fix whatever problem arises, I get a BB gift card for the full purchase price of the display. Right now, that would actually buy me Samsung's top of the line & largest LED display. So yes, I would recommend BB as an option, especially since you're interested in purchasing an EW.

Maybe I'm missing something but do Plasma t.v.'s have "dead pixels"?

[sarcasm] Yes, if djnsmith7's plasma gets dead pixels or when the plasma leaks out, the BB EW will cover it! And just think all that coverage for the low, low price of $500!!! But I'm sure they knocked $500 off the price of the TV, so he basically go the warranty for free. [/sarcasm]

Unfortunately the "killer deal" at BB was probably the same price or more than it would be on Amazon, and the EW was pure, golden profit for BB (because there's about a 1 in a 100 chance that there will be a problem with the TV after the regular warranty runs out).

You don't know anything about the deal I got, but here's what I will tell you. I paid roughly $400 less than the lowest advertised price on Amazon at the time of purchase.

OK, then enlighten us with details of the deal you got. What TV did you buy? What was included in this "deal" that you got at BB (EW, accessories, delivery, etc.)? What was the entire price you paid for all of that before tax?

I will say that sometimes Amazon doesn't have the best prices on previous-gen TVs (their deals on these TVs fluctuate), so it's definitely possible to pay less at BB than at Amazon; however, this doesn't mean it's a good price.

I've revealed all the information that's necessary for my contribution to this thread. There's no reason for you to ask for any additional monetary details of my transaction.

 

[kalrith]

Originally posted by: djnsmith7

Originally posted by: kalrith

Originally posted by: djnsmith7

Originally posted by: kalrith

Originally posted by: techs

Originally posted by: djnsmith7
I bought a 4 year EW when I bought my 58" plasma last year at Best Buy. They gave me a killer deal on the display & worked a good deal on everything else in the package. I know there are a lot of non-BB supporters here & that's understandable, as not everyone has had favorable experiences with their stores. Considering the deal I got & that if I have even 1 dead pixel or I'm not satisfied with the technician's 3 attempts to fix whatever problem arises, I get a BB gift card for the full purchase price of the display. Right now, that would actually buy me Samsung's top of the line & largest LED display. So yes, I would recommend BB as an option, especially since you're interested in purchasing an EW.

Maybe I'm missing something but do Plasma t.v.'s have "dead pixels"?

[sarcasm] Yes, if djnsmith7's plasma gets dead pixels or when the plasma leaks out, the BB EW will cover it! And just think all that coverage for the low, low price of $500!!! But I'm sure they knocked $500 off the price of the TV, so he basically go the warranty for free. [/sarcasm]

Unfortunately the "killer deal" at BB was probably the same price or more than it would be on Amazon, and the EW was pure, golden profit for BB (because there's about a 1 in a 100 chance that there will be a problem with the TV after the regular warranty runs out).

You don't know anything about the deal I got, but here's what I will tell you. I paid roughly $400 less than the lowest advertised price on Amazon at the time of purchase.

OK, then enlighten us with details of the deal you got. What TV did you buy? What was included in this "deal" that you got at BB (EW, accessories, delivery, etc.)? What was the entire price you paid for all of that before tax?

I will say that sometimes Amazon doesn't have the best prices on previous-gen TVs (their deals on these TVs fluctuate), so it's definitely possible to pay less at BB than at Amazon; however, this doesn't mean it's a good price.

Actually, I won't give you the details of my deal & there's no reason for you to ask for this information. This thread isn't about me & shouldn't be. The OP asked about an EW, so I offered some information pertaining to my experience along with a suggestion. That's where it ends. Leave it at that.

Yes there is, and it's pertinent to this thread. I don't believe that at the end of the deal BB gave you a better deal than what you could've gotten online plus an EW through a company like Squaretrade. I believe that the purchase price on the TV at BB was low enough to entice you to add on other services that made the end price more expensive than you could've gotten elsewhere.

This is pertinent to the OP as a warning to watch out for salesmen at stores who will entice you with a low purchase price and then nail you with add-ons, much like car salesmen do. That's the reason for my original mention that the BB deal you got was probably not as good as you thought. It wasn't about you; it was about the OP and his decision for buying an EW.

Now, is it possible to get a better deal on a TV at BB than elsewhere? Yes. I did, but it was because of a pricing mistake and not because of some awesome deal that a salesman was nice enough to give me.

Is it possible to get a better deal on a TV + EW at BB than elsewhere? I seriously doubt it, unless it's a previous-gen TV that's really difficult to find online for decent prices. Even then, if you can get a good deal on a TV at BB, get it without the EW and buy one for 25% of the price elsewhere.

Edit: After rereading my posts, I should've left out the part about asking detailed information about your deal. That's not really pertinent to this thread. The pertinent information from me is clearly stated in this post, and it doesn't really need the information on your deal to either prove or disprove it. I'm sure some people get great deals with EW through the B&M, but I assure you that they are the exception and not the rule.

 

[djnsmith7]

Originally posted by: kalrith

Originally posted by: djnsmith7

Originally posted by: kalrith

Originally posted by: djnsmith7

Originally posted by: kalrith

Originally posted by: techs

Originally posted by: djnsmith7
I bought a 4 year EW when I bought my 58" plasma last year at Best Buy. They gave me a killer deal on the display & worked a good deal on everything else in the package. I know there are a lot of non-BB supporters here & that's understandable, as not everyone has had favorable experiences with their stores. Considering the deal I got & that if I have even 1 dead pixel or I'm not satisfied with the technician's 3 attempts to fix whatever problem arises, I get a BB gift card for the full purchase price of the display. Right now, that would actually buy me Samsung's top of the line & largest LED display. So yes, I would recommend BB as an option, especially since you're interested in purchasing an EW.

Maybe I'm missing something but do Plasma t.v.'s have "dead pixels"?

[sarcasm] Yes, if djnsmith7's plasma gets dead pixels or when the plasma leaks out, the BB EW will cover it! And just think all that coverage for the low, low price of $500!!! But I'm sure they knocked $500 off the price of the TV, so he basically go the warranty for free. [/sarcasm]

Unfortunately the "killer deal" at BB was probably the same price or more than it would be on Amazon, and the EW was pure, golden profit for BB (because there's about a 1 in a 100 chance that there will be a problem with the TV after the regular warranty runs out).

You don't know anything about the deal I got, but here's what I will tell you. I paid roughly $400 less than the lowest advertised price on Amazon at the time of purchase.

OK, then enlighten us with details of the deal you got. What TV did you buy? What was included in this "deal" that you got at BB (EW, accessories, delivery, etc.)? What was the entire price you paid for all of that before tax?

I will say that sometimes Amazon doesn't have the best prices on previous-gen TVs (their deals on these TVs fluctuate), so it's definitely possible to pay less at BB than at Amazon; however, this doesn't mean it's a good price.

Actually, I won't give you the details of my deal & there's no reason for you to ask for this information. This thread isn't about me & shouldn't be. The OP asked about an EW, so I offered some information pertaining to my experience along with a suggestion. That's where it ends. Leave it at that.

Yes there is, and it's pertinent to this thread. I don't believe that at the end of the deal BB gave you a better deal than what you could've gotten online plus an EW through a company like Squaretrade. I believe that the purchase price on the TV at BB was low enough to entice you to add on other services that made the end price more expensive than you could've gotten elsewhere.

This is pertinent to the OP as a warning to watch out for salesmen at stores who will entice you with a low purchase price and then nail you with add-ons, much like car salesmen do. That's the reason for my original mention that the BB deal you got was probably not as good as you thought. It wasn't about you; it was about the OP and his decision for buying an EW.

Now, is it possible to get a better deal on a TV at BB than elsewhere? Yes. I did, but it was because of a pricing mistake and not because of some awesome deal that a salesman was nice enough to give me.

Is it possible to get a better deal on a TV + EW at BB than elsewhere? I seriously doubt it, unless it's a previous-gen TV that's really difficult to find online for decent prices. Even then, if you can get a good deal on a TV at BB, get it without the EW and buy one for 25% of the price elsewhere.

Edit: After rereading my posts, I should've left out the part about asking detailed information about your deal. That's not really pertinent to this thread. The pertinent information from me is clearly stated in this post, and it doesn't really need the information on your deal to either prove or disprove it. I'm sure some people get great deals with EW through the B&M, but I assure you that they are the exception and not the rule.

When my deal was done, with the exception of the price I paid for the wall mount installation & tax, I paid the same price for my display + EW as I would have had I purchased just the display from Amazon, which was the second lowest option, at the time.

I negotiated this deal with the HT manager. Since I used my RWZ card, I also got 4 free BR's after the deal was done. It worked out very well & I'd do it again.

 

[crisscross]

Slightly OT but is there a significant risk for LCD/Plasma TV's to go bad? i.e. are extended warranties needed?

 

[kalrith]

Originally posted by: crisscross
Slightly OT but is there a significant risk for LCD/Plasma TV's to go bad? i.e. are extended warranties needed?

As I stated above (in the 15th post), the advantage to EW is most definitely in favor of the warranty provider. There's at worst a 3% chance of failure for the TVs, so if you pay 3% of the purchase price of the TV for the EW, then that's a good price; however, you're likely to spend much more than that. Also, since the chances are good that the TV will fail outside of the EW period, that makes it a less than 3% chance that you'll use the warranty. It's also much less likely to fail if it's a quality brand than a budget brand.

Let's say you bought 33 flat-panel TVs during your lifetime (obviously that's an exaggeration). The odds (according to CR) say that one of those will fail. I went on squaretrade.com and priced the warranty for a $2000 plasma TV, which came out to $249.99. I've seen coupon codes that give a max discount of $50, so let's assume you get the EW for $199.99, or 10% of the purchase price of the TV. If you bought 33 $2000 plasma TVs, it would cost $6600 for an EW on each one, and the odds are that one will fail resulting in a $4600 net loss for your EW purchases (assuming that it fails during the EW period).

You'll always have someone who comes in and mentions that they paid $200 for an EW, and it saved them $2000. That's a possibility (just like it's possible to play roulette once and win a boatload), but the odds are definitely against you.

My feeling is to only pay for warranties/insurance on things that are required by law or things that I absolutely cannot replace. If my TV fails, then it's within my means to replace it. If my wife has a $40,000 surgery (which she had a few years ago), it is not within my means to pay that. Things like health insurance still profit the insurance companies and the chances are in their favor that you'll won't use as much money as you put in; however, if a situation arises when you need to use it, it will cover an amount that no normal individual could repay in a lifetime. This is obviously not the case with even a $5,000 TV. If someone could buy one in the first place, chances are that they have the means to replace it if they're unlucky enough to be within that 3% (at most) whose TVs fail. To sum it up, if I never buy an EW in my life compared to buying one for every big purchase, then I'll wind up ahead in the end.

 

[techs]

Originally posted by: kalrith

Originally posted by: crisscross
Slightly OT but is there a significant risk for LCD/Plasma TV's to go bad? i.e. are extended warranties needed?

As I stated above (in the 15th post), the advantage to EW is most definitely in favor of the warranty provider. There's at worst a 3% chance of failure for the TVs, so if you pay 3% of the purchase price of the TV for the EW, then that's a good price; however, you're likely to spend much more than that. Also, since the chances are good that the TV will fail outside of the EW period, that makes it a less than 3% chance that you'll use the warranty. It's also much less likely to fail if it's a quality brand than a budget brand.

Let's say you bought 33 flat-panel TVs during your lifetime (obviously that's an exaggeration). The odds (according to CR) say that one of those will fail. I went on squaretrade.com and priced the warranty for a $2000 plasma TV, which came out to $249.99. I've seen coupon codes that give a max discount of $50, so let's assume you get the EW for $199.99, or 10% of the purchase price of the TV. If you bought 33 $2000 plasma TVs, it would cost $6600 for an EW on each one, and the odds are that one will fail resulting in a $4600 net loss for your EW purchases (assuming that it fails during the EW period).

You'll always have someone who comes in and mentions that they paid $200 for an EW, and it saved them $2000. That's a possibility (just like it's possible to play roulette once and win a boatload), but the odds are definitely against you.

My feeling is to only pay for warranties/insurance on things that are required by law or things that I absolutely cannot replace. If my TV fails, then it's within my means to replace it. If my wife has a $40,000 surgery (which she had a few years ago), it is not within my means to pay that. Things like health insurance still profit the insurance companies and the chances are in their favor that you'll won't use as much money as you put in; however, if a situation arises when you need to use it, it will cover an amount that no normal individual could repay in a lifetime. This is obviously not the case with even a $5,000 TV. If someone could buy one in the first place, chances are that they have the means to replace it if they're unlucky enough to be within that 3% (at most) whose TVs fail. To sum it up, if I never buy an EW in my life compared to buying one for every big purchase, then I'll wind up ahead in the end.

On the other hand, I bought a 4 year warranty on my Sony 51 inch HD RPTV about 5 years ago. It's one of those with the big base unit attached. I bought the warranty because taking the tv in for service is amazingly difficult for me.
At the 3.75 year mark the picture got all screwed up. The service company had a guy here in a few days and fixed it at no charge to me. I actually saved a couple of hundred over what it would cost without the warranty.

My new LCD I am getting in few weeks is far easier for me to take in for service. So I am trying to decide which way to go.