Are Extended Warranties Worth Your Time?

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It seems no matter what retail store you go to, each one has their own extended warranty plan for your devices. In some cases, the extended warranty can cost almost as much as the actual item, which can really hit you hard in the pocketbook. One of you out there in the community asked recently if I believe in warranties. Well yes, I believe they exist. But I’m not so sure that they’re worth grabbing in addition to the thing you’re buying.

Sometimes, extended warranties can be a waste of money. You need to read the fine print, and even ask other people what their experiences have been like. Most of these big stores make their money with the person behind the register – trying to upsell the extension to you. The largest problem will be figuring out if there is even any value to you at all.

How many different places do you shop? I’m sure you don’t buy everything at the same place. This can make it even more difficult to keep track of various purchases and warranties. Will you even remember you added the extra coverage if something should happen to your item? Does it even cover “normal” issues, or will it only kick in for some strange occurrence that most people will never even hear of? This is why you have to do a bit of research, and figure out if the extra cash outlay is worth it.

When you buy any time of consumer electronics, you’re looking for the best price and deal. Giving in and buying an extended warranty you’ll either forget about or never use ends up costing you more than the original price would have.

Most of us throw away broken devices anyway. Is it really worth it to have to dig up the warranty, find someone who can repair the item or even beg the store to take it back? How much is your time worth? I know that mine is usually worth more than any warranty.

What do you do? Do you always buy extended warranties?