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How do you guys feel about protection plans?

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7 replies to this topic

#1 blitzjg


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Posted 30 May 2017 - 09:01 PM

I just got a new laptop from Best Buy and went with the protection plan.


What are your thoughts on these plans?  When is it worth it?  I'm thinking about cancelling it since it was another 120 bucks!

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#2 JohnC_21


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Posted 30 May 2017 - 09:46 PM

Personally, I avoid these plans. You have a one year warranty and if electronics fails its most often during the first year of use. I guess it would depend on how much the computer was to begin with. Since Best Buy has about zero markup on the computer extended warranty plans are where they make their money. Also, some credit cards double the warranty of the item purchased.





#3 britechguy


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Posted 30 May 2017 - 10:00 PM

I avoid them like the plague.  Yes, they are insurance, but if you know how the insurance business works it makes money, usually lots of it.  If they thought they'd be paying out on most of these plans they'd never be offered.


It used to be that Consumer Reports consistently recommended avoiding "extended warranties/protection plans" because they virtually never save you money.


I'll take my chances and when it comes to modern computer equipment I've never regretted doing so.

Brian  AKA  Bri the Tech Guy (website in my user profile) - Windows 10 Home, 64-Bit, Version 1809, Build 17763 

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#4 mjd420nova


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Posted 31 May 2017 - 03:11 PM

It mostly depends on the retailers warranty period, usually 90 days, after that it's in the mfgrs court.  Retail is there to make money, they wouldn't offer the plan if it cost THEM money.  The other consideration is the name brand,  off brands are terrible but come with the lower price.  These days, most manufacturers will ship you a new one FREE and you keep the broken one (that's only once.)

#5 smax013


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Posted 03 June 2017 - 11:32 PM

I largely avoid them, but it will somewhat depend on what the plan covers and the device that the plan would cover.

If it is just a pure warranty extension, then I don't bother. As JohnC_21, many credit cards will extend a warranty of things bought with that credit card. That is true of at least one of my cards. Plus, as noted by others, for electronic stuff (especially with no moving parts), if something is going to happen, it will likely happen while still covered by the manufacturer's warranty.

Now, if the extended warranty also covers some other things like accidental damage or "consumables" (i.e. will replace a battery at least once) or other "features", then it might be worth it. But, it will depend on what it covers as well as how much it would cost to replace on your own without the warranty and also whether or not the extended warranty has some sort of deductible (i.e. you still have to pay part of the cost). And it would then also depend on the device itself. Even with added "extra features", I would definitely not for something like a desktop. For a laptop or mobile phone, if it covered accidental damage for example, then maybe if the cost math works out.

And of course, the other factor is your own risk tolerance factor. If you are the type of person who likes to have all the bases covered, then it might be worth it for your state of mind to have some sort of extended warranty. Of course, that is what those that sell extra warranties are banking on.

#6 Chris Cosgrove

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Posted 06 June 2017 - 07:25 PM

Normally I am in the Britechguy school of thought - 'Thank you for the offer, but no thanks !'


However, there are exceptions to everything. Just over two years ago I had to buy a new printer which turned its toes up on me a couple of months ago, in the middle of a printing job naturally. I sourced a replacement locally and was amazed to be able to buy exactly the same model after two years. I was offered three years' replacement cover for a relatively trivial sum and I succumbed to the temptation. After all, this one died after two years, if the replacemnt does the same I am in front !


But this is the only time to date that I have done this.


Chris Cosgrove

#7 The-Toolman


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Posted 07 June 2017 - 09:48 AM

I think a lot depends on what is to be insured by the service plan and what is going to be covered straight across the table.


Prorated service plans are a ripoff and seem to be very limited from my own personal experience.


Unless the service plan gives straight across the table replacement or service without any additional cost for the full amount of time covered by the service plan than it is useless imo.


As far as cell phones and any electronics can all be replaced reasonably cheap so no go on a service plan.


Today's manufacture is based upon planned obsolescent. Build it cheap and get it out of the door before it breaks.


And yes I understand why it is done this way.

"Under certain circumstances, profanity provides a relief denied even to prayer."

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#8 Threesom666


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Posted 29 July 2017 - 02:06 AM

Usually I'd say they're great but not when it comes to pc. When I bought one for my laptop online I thought it covered everything. When I returned it because it had heating problems I found out it covered nothing. All they did was take my money and run. They didnt fix anything. They had a million excuses not to fix it. All they did was clean it. BUT when it comes to bestbuy. I trust them. Everything Ive ever return their has always been dealt with the highest quality. The only thing about it is that most of the time repairs are cheap and protection plans are expensive. Also for a limited time. Them knowing since your buying a brand new pc for a limited time chances are slim to none your going need to repair. It probably doesnt cover important repairs like data recovery, or if you smash it from the roof of your house.

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