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Old Oct 2, 2005, 1:58 PM   #1
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It seems like a no brainer, not much money, 4 extra years for a total of 5...is there a catch?Thanks
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Old Oct 2, 2005, 2:31 PM   #2
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In My Opinion...
No, they are not worth it.

But then again, you haven't said the cost of the item or how much they are charging.

Lets put it this way. If they didn't make enough money off them, the store wouldn't offer them. But they do... lots of stores do. So clearly it is in *their* interest to do it.

I bet they count on you forgetting you purchased it in 3 years when it has a minor problem. Or they make it really hard to claim them (must have original box & receipt or something like that.)

On the other hand, I insure my camera, but it costs $1400 (a Canon 20D.) to me, it is worth it. I also ensure the rest of my gear, which is a lot of money (around $10,000 in camera gear.)

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Old Oct 2, 2005, 2:39 PM   #3
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It is only an additional $40 to cover a total of 5 years protection. I have read enough about things going wrong with digitals a year or two or three out, but I have no idea how hard it is to get these warrantees to pay up. This is a 3rd party one I am sure, through the camera seller on a canon S60.
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Old Oct 2, 2005, 2:53 PM   #4
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Another thing to check is all the fine printed terms. for example, if your camera goes wrong, will they replace it by a new one? (in 3 years, your present model will be discontinued for sure) which model will they base on, or it's prorata considering years of "wear out" and converted to $$$? etc ...
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Old Oct 2, 2005, 3:10 PM   #5
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Thanks, all good, really good points.
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Old Oct 2, 2005, 3:19 PM   #6
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i agree here... they are not worth it..
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Old Oct 2, 2005, 7:58 PM   #7
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Live life on the edge, forget the extended warranttee and the UV filters on the lense.

Hey, but if you have expensive equipement worth more than a few grand, I'd recommend getting general camera insurance - stuff that will ensure you in case of theft or accidental dropping.

-- Terry
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Old Oct 2, 2005, 8:55 PM   #8
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KCan wrote:
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Another thing to check is all the fine printed terms. for example, if your camera goes wrong, will they replace it by a new one? (in 3 years, your present model will be discontinued for sure) which model will they base on, or it's prorata considering years of "wear out" and converted to $$$? etc ...
I general, I agree that these extended warranties are often not worth it.

But, I did have this work out to the better one time. I rarely buy an extended warranty, but Ibought one for an Epson printer once.

Well, it had a bad habit of getting clogged nozzles frequently (requiring multiple cleaning cycles), and it wasalso prone to jamming easily. It finally got to where it wouldn't work at all.

So, I took it back to the vendor, and after they made some calls, they told me that they no longer repaired this model. They gave me the full purchase price towards any other printer they sold (they did not pro rate it).

Since printers had advanced since I bought this Epson, I got a much better printer. That may be the exception to the rule with these things, though (it was an extended warranty fromBest Buy, and I don't know who provided the extended warranty they sold then).


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Old Oct 2, 2005, 11:26 PM   #9
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[align=left]
Quote:
It seems like a no brainer, not much money, 4 extra years for a total of 5...is there a catch?Thanks
[/align]

[align=left]How much money? Did you buy the camerawith a credit card? If you didyou mayhave extended the warranty a year already. So in effect youwould bepaying for 3 extra years, is it not much money then?The only time I suckered for an extended warranty was on a used vehicle.It was a warranty from a very reliable company with years in the business. They went under in less than a year after I purchased the warranty from them. I am supposedly part of a class action suit against them, at least that's what the occasional letters the class action lawyerssend me say. If I ever see even 10 bucks back I'll be surprised. Anyway the truck is still running great and I'll never "buy" an extended warranty again. Most things that have problems have them within the first year, usually within the normal warranty period, ora long time laterdue to the thing becoming worn out. Extended warranties fall close to the beginning of the useful life of a piece of equipment and end way before the useful life is done. There are always exceptions thoughso maybe it would be better if they namedit exception insurance.It seems like a bad investment to me.
[/align]
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Old Oct 3, 2005, 4:54 AM   #10
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THEY ARE WORTH IT

i work in retail and we make EASILY over 2k worth of warranty claims on products per week.
Everytime we ask custys do you want extended warranties they say:

1) if it dont break in the 1st year it wont at all
How does this make sense you would think products would degrade in quality over time, how does this statement make sense.

2) The consumers guarantees act will cover me after the manufacturers warranty
This doesnt do anything. We have had 3 cases go before us and every case has lost big time. Not only do you waste about a year waiting for somebody to care about your insignnificant case and your faulty product but by the time u pay legal fees you could rebuy your camera brand new 10 times over.

3) if it breaks after 1 year i will throw it out
Yea rite these are the first ppl to come back and complain when their units do break down

Lately we have noticed a huge amoutn of mail pretty much pleeding and begging us, the retailer, to give a SXXT bcse they didnt purchase an extended warranty and they found out the hard way that no, the consumers guarantees doesnt care, and we dont either. We repsond in the same way. If u only spent the small amount of money at the time you made the purchase you wouldnt be faced with this huge bill now.

Think about it, digital cameras (Both video and still), laptops computers, pda and mobile phones are the most expensive things to fix. The chepaest claim i have fowarded to a 5year company was around $200 NZD. Our policy on extended warranties is unlimited claims unless replaced. And even if it is replaced you have just scored ourself a camera for the price of your warranty which i would hope would only be a very small portion of the retail value

SO inconclusion in regards to digital cameras, then yes this is a case when the warranty is very good value and a must.


WOULD you not insure your car?

In regards to the claims, the oly time we ever get claims rejecd is when the standard everyday terms and conditions of any waranty are breached. Impact damage, water damage misuse and abuse blah blah blah.


And in the cae where the damge is under the conditions and it is not economical to repair the item then yes you should recieve an equivalent (IN Specifications, not price) in camera in the currents models.

Are they worth it?
LOL ask prob between 3-7 ppl per week who recieved approved claims from 5 year warranties and see what they think. I think their words are "Thank god i got that warranty". Even if something small is faulting the tech will still charge you an appraisal fee usually $65 NZD, then usually a fixed chrge out ofr $75 NZD per hour, then parts (Cost + Tax + 40% Profit Margin) Then your item will be couriered bnack to the retailer (Bcse u are not covered under a warranty you will be liable for all transit charges. Then wen it gets to the retailer they will usually add another 15% to make up for the time they have wasted on you for following up your repair. Now if we look at the best case senario
Min service fee $65 + ihr labour $75 + cheap part $55 + courier $95 then add 15%
$333 NZD Pretty big gamble to take i thnk

And in reference to "why do we sell it if we dont make money" ofcourse we make money out of it. Well until you claim. Warranties work on a buffer.As long as we sell more than are currently claiming thengood. How do insurncae companies survive.


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