Extended warranty - Should I? - Page 2 - Home Theater Forum and Systems - HomeTheaterShack.com

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post #11 of 16 Old 10-15-08, 03:00 AM
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Re: Extended warranty - Should I?

tenzip wrote: View Post
I would suggest negotiating on the price, if at all possible.
Yes, and finding a place with a policy where you get money or store credit back if you never need it is a great selling point IMO.
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post #12 of 16 Old 10-15-08, 09:17 AM
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Re: Extended warranty - Should I?

Sonnie wrote: View Post
Maybe we need to start selling extended warranties here at the Shack, except sell them heavily discounted to help out those who feel more comfortable owning one.
Is that a real possibility Sonnie? However that probably would not be valid up here in Canada but it sounds like a good idea.

Home theater:
Onkyo 805, Yamaha YDP2006EQ, Samson Servo 600 amp
3 EV Sentry 500 monitors across the front, 4 Mission 762i's Surrounds, SVS PB13U sub, Panasonic BDT220, Harmony 1100, Nintendo WiiU
Panasonic PT-AE8000 on a 120" 2,35:1 fixed screen

Living room system:
Sherwood/Newcastle R972, Mission 765's, SVS SBS02's, A/D/S MS3u sub, Yamaha YDG2030EQ
Yamaha KX-393 Tape deck, CDC 805 CD changer, Panasonic BD60, Sony turntable PS-T20
Panasonic TC-P50ST60, HD-PVR & WDTV Live, Harmony 900

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post #13 of 16 Old 10-15-08, 03:43 PM
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Re: Extended warranty - Should I?

Absolutely it is a possibility. I am not sure about Canada either, but I suspect I can find out. I have actually spoken with Bankers Warranty Group for the possibilities of offering their warranty to Shack members as a discounted price. Sales would be handled electronically. We have to jump through a few hoops and ante up a tad, but it is very much a possibility that it may one day come about.

Here is a link to their website:


As you can see, they have been in business for 25 years. They handle the warranties for companies such as Sears, JC Penny's, and they also handle the American Express double warranty program.

I have spoken with their customer service and claims department just to get a feel for how they handle customers. Thus far I am impressed. Customer service was prompt and I only held about a minute for claims. The claim lady I spoke with was very polite and she did not know I was interested in selling their product until the end of our conversation. I was basically picking her for info initially.

One thing I like about this warranty is it can be purchased up to 60 days prior to your original manufacturers warranty expiration date, although it is inclusive of the manufacturers warranty.

Of course the warranty can be purchased through us regardless of where the product in purchased from.

Plasma, LCD, Projection and RPTV products are covered the same as the manufacturers warranty. If it's onsite, then the BWG warranty is onsite. If not, the customer can upgrade to an onsite warranty. All of their plans except the smallest will mirror the manufacturers warranty.

They offer the following plans:
  • "Gold" Extended Warranty (For Plasma, LCD, Projection and RPTV products from $0 - $29,999.00) 2, 3, 4 or 5 years.
  • "Platinum" Onsite Upgrade Warranty (For Plasma, LCD, Projection and RPTV products from $0 - $29,999.00) 2, 3, 4 or 5 years.
  • Home Theater Extended Warranty Program (1 television, audio, speakers, and satellite limited to 1 room from $0 - $99,999.99) 3 or 5 year.
  • Consumer Electronics Extended Warranty Program (Video, Audio, Misc Electronics from $400 - $4999.99) 3 or 5 year.
  • Small Electronics Replacement Plan ($0 - $399.99) 1 or 2 year. *Mail in only!

I do not have the latest prices, but they compared reasonably well and we should be able to give a nice discount.

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post #14 of 16 Old 09-29-09, 07:37 AM
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Re: Extended warranty - Should I?

tenzip wrote: View Post
Extended warranty sales is basically almost pure profit for the seller. Most never get used, or even if the device breaks years down the line, the buyer might forget they got the extended warranty, or can't find the paperwork. Gravy.

My cousin works for an office supply chain store, he nearly got fired because a customer bought ~$10k worth of equipment, and my cousin didn't go past the point the customer said "No, I don't want any extended warranties." His manager took the sale away from my cousin, and actually had to give the customer a discount to keep his business. The customer was annoyed and almost left when the manager tried repeatedly to sell extended warranties.
Most retailers make about 50% profit on the EW. With no inventory cost, this makes them a very lucrative item to sell, since in this environment of highly competitive pricing, they often make more on the warranty than on the product itself. There are online vendors for the warranties that are often deeply discounted.

We have a sub-Forum in service and support dedicated to extended warranties. It gets little attention. I suspect that most here understand that they are simply insurance, and are a matter of limiting risk for expensive failures that often go unused.

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post #15 of 16 Old 09-29-09, 07:52 AM
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Re: Extended warranty - Should I?

gsslug wrote: View Post
I'm coming up on about a year since I purchased my Mits HD rear projection TV. I have not had any problems with it. I was wondering whether or not I should purchase one of the extended warranties offered from various companies or just take my chances. My last HD Mits failed suddenly about 5 years after purchase which is outside the time period of many extended warranties. From what I have read the lamp will need replacing but I figure I can do that myself.

Any thoughts?

Mitsubishi is an interesting case to discuss this. They have had their share of catastrophic failures on the early DLP sets. They have also offerred accomodations on the cost of repair and/or replaced lots of the sets, even after 4-5 years. They extended warranties on the later sets when they discovered that they had problems with sensors and light engines. There are thousands of consumers who bought extended warranties that never would have needed them. Some may have gotten some benefit from them at the very end of the warranty. There is no guarantee that Mits will be so accomodating to its customers when your set is 4-5 years old, but they have done lots of OOW repairs at reduced or no cost, or replaced sets for decades when it is clear that they have systematic failures.

Other vendors are far less accomodating to their customers.

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post #16 of 16 Old 10-02-09, 07:53 AM
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Re: Extended warranty - Should I?

Extended warranties in Quebec (don't know if it applies to all of Canada) are a big no no. We have something called "legal warranty" where whatever you buy has to last its "reasonable lifetime". So basically, if you buy a fridge and fridges usually last 10 years, whether the warranty is 10 years or not and you fridge dies after 8 years, you can fight it out and get a free replacement.

It's a big hassle, but that's how it works. It's most likely one of the big reasons why stuff is generally more expensive North of the border
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