Extended Warranty worth it??

As mentioned above, do NOT buy an extended warranty because most product failures occur within the manufacturer warranty period. An extended warranty is simply pre-paying the full sum for a 'term life insurance' policy that doesn't kick in for 1 or more years and is difficult to collect upon.

Of course, the experience of Grand_Gator above REALLY makes one wonder about what these non-Canon repair centers are capable of repairing, much less 'cleaning'.

Needless to say, I consider it well worth the extra $$$ to send something directly to Canon for repair. Which is exactly what I did after dropping my 6 month old 580 EX ii. Unfortunately, the Canon warranty does not cover 'dropping'.

bratkinson wrote in post #15861490
Needless to say, I consider it well worth the extra $$$ to send something directly to Canon for repair. Which is exactly what I did after dropping my 6 month old 580 EX ii. Unfortunately, the Canon warranty does not cover 'dropping'.

Now I am going off the topic but seem the right place to add:

Unlike most skeptical people, I was very impressed with 5 star ranking of independent Gov. panel in awarding Kia Sedona (When introduced) as Van of the year and then its Backing up by its, then unheard off, 10 years - 100 thousand mile warranty. So made my wifes Landrover changed with a New fully loaded Kia that came near price of minimally equipped Honda Odyssey. This is back in 2003. During first 5 years twice alternator goes bad, twice transmission. Covered by warranty, off course we are responsible to replace the car ourself during time it is in service. In the second next 5 years every time something went wrong, it went wrong in a funny way... That is till the expert at dealership looks at the problem. Example: We are having this very funny metallic noise coming of the engine when it moves. Dealership tests and tells us this is from (And beautifully with his hand he draw an imaginary line on top of engine), this part and only the other side is included in extended warranty... Cost us $2500 for the repair.
Same story happens again and again only this imaginary line is always drawn at the intersect where the problem is and sorry to say, it is always just to the other end of where the extended warranty covers it........
OK I get my lesson. When we have the extended warranty, our problem is always in the side that is UNFORTUNATELY NOT covered by it...

So what is the use of Extended warranty that does not extend to the side of our problems? Guess those are right that is the best money making scam (Most of time) for the dealers, sellers, to make up their profit.

as it's been mentioned (well sort of) .... as with lots of electrical gadget type things' if its going to fail then it s more likely to fail very soon after its switched on! ... a faulty part built into the camera during munufacture ect .. so you get a "DUFFER" fresh out of the box! ...bought a few camera's over the years and what i've found is that once it been working fine for 6-12 months the chances are it will be a good one for many more years to come, EXTENDED WARRANTY is the biggest rip off in the retail industry!!! ... just my opinion

A friend of mine works for a large Canadian camera retailer and tells me that when a sales person sells the extra warranty, half of the price you pay is commission. No wonder they always push it. I've been tricked before, but never again.

I wouldn't get a policy that just extended the warranty, but, depending on the item, I'd get a warranty that covered accidental damage. For example, I always insure those small waterproof cameras in the $300+ range. I've had three of them break in salt water over the last two years, despite best efforts in avoiding leaks.

Leigh wrote in post #15860743
Buy with a Platinum Visa card, and Visa Warranty Manager provides you double the mfg. warranty free of charge; plus the option to purchase an additional 5 years for a fee.

I've used it in the past, & it saved me $300 on a 100-400L repair.

Leigh

www.leighwax.com

American Express cards double the manufactures warranty also; I push all my 'breakable goods' purchases through it for that reason. (Including cell phones)

I would also look into insurance; it's relatively cheap to tack a rider onto home owners. I think i pay 50 usd/year to cover all my electronics (laptops, cell phone, camera gear is the vast majority of that price); and that covers me dropping it in the ocean. If you are a professional the cost of insurance rises substantially though (at least for me it would)

when you buy an extended warranty look at it this way. the store is betting it wont break and you are betting it will.

guess who usually wins the bet? can you get a bad one. yes. but odds are its going to break right away during the manufacturer warranty period if its defective.

w0m wrote in post #15861810
If you are a professional the cost of insurance rises substantially though (at least for me it would)

professionals have liability issues to worry about which is why the premiums increase.

I just wanted to clarify that I got the black tie extended warranty that includes drops and spills, with a 2 yr old at home it is just a matter of time......

In the mean time, I thought that I will attach a picture of how these idiots left my focusing screen assembly (sorry about the quality of the picture, I took it with my phone). Judge by yourself.....

It can be worth it if you are buying models that are being discontinued and/or display models.

I got a deal late last year on an Olympus E-PL2 and the kit lens. It was the display model, and with the extended warranty and taxes (yay NS!!) I paid around $300 (CAD). The extended warranty is good for 3 years and covers the battery and some repairs. I believe the camera was just over $200 before taxes and the warranty.

But on brand new gear, I doubt I would.

With all the money I have saved by NOT purchasing any extended warranties, I can easily pay to replace or repair the occasional item that may fail during that extended period and before I am ready to replace/upgrade it. And I will still be ahead financially.

Similarly; cell phone insurance. Lets look at worst case iPhone 5 (iPhones hold their resale better so best example for service vs replace).

I use t-mobile; so looking now; they have 3 insurance plans; from 12usd/mo down to 6 for just extending warranty (not covering drops). Lets pick the middle tier, 8/mo; that covers lost/stolen/dropped.

Expected phone life span is currently 2 years; so if you don't lose/break your phone; you are (8*24)= spending 192usd for the 'security', no matter what. Lets assume lose/break it after 12 months ; you've then paid 96usd out of pocket; and the 'insurance fee' is 175usd to use; so you've paid 271usd (+Tax) to get your (now) 15 mo/old lost/stolen phone replaced with a 'refurb' (no warranty outside 15 day window).

If; you just went to ebay and bought a new phone outright; instead of 217 (with 96 'garanteed') to get an older phone back; you could buy it outright off ebay (basing off current sale of iPhone 4S) for 315 (cheaper on craigslist). Break it after 18 months? You're actively losing money vs buying a use one directly. Not break it? You just completely wasted 192usd.

If you're an android user; you could buy a Galaxy Nexus for 149usd used currently, so you technically lost money near immediately if you get insurance (Would have to see trending of phone price dropping, but lets look at Nexus 4. 299 off contract for the phone, so after a year you break even if you buy a brand new one vs get insurance)

Basically you're betting on yourself to fail; and I don't consider that a good bet very often.

Extended warranties are totally worthless..........UNL​ESS YOUR EQUIPMENT BREAKS.

When I bought a refurbished 40D, I went ahead and got a 2 year extended. Of course Refurb.s only have 90 days when you buy them.

At about one year, at a wedding, my shutter bit the dust. They totally fixed it and even paid shipping both ways.

For a new camera, maybe skip the warranty.

Hi! My name is Desiree and I am the Customer Experience Supervisor for Mack Worldwide Warranty. Mack offers diamond warranties to cover all repairs except if your unit was lost, stolen, or in a fire. I can answer any specific questions that you may have regarding our extended warranties. I can be reached via email at helpdesk@mackcam.com.