Is getting a warranty extension worth it?

[smd]

I'm considering getting an extended warranty but I've been getting mixed opinions about it from the people I've spoken to. Has anyone ever had an extended warranty, do you think it was worth it?

 

[otherclive]

I'm considering getting an extended warranty but I've been getting mixed opinions about it from the people I've spoken to. Has anyone ever had an extended warranty, do you think it was worth it?

I had one included as part of the purchase of the caravan, it cost about £320 for 12 months Gold cover with MBG. It did not cover my failed offside suspension spring which cost around £1400 to fix with a brand new axle assembly. It excluded cracks in panels or plastic components so when the rear ABS panel was found to have cracks I was fortunate that the Swift warranty covered the fitting of a new end panel. It did cover damp ingress from seams and seals, and mechanical and electric breakdowns, But even here there were exclusions. but fortunately I did not have to claim of anything in those respects. Was it worth it.....?

So its a case of the prospective purchaser needs to decide what is best for them. It's not just caravan after market warranties that have exclusions car warranties are just the same.

 

[ProfJohnL]

Are extended warranties worth it?

That's a very difficult question to give a universally correct answer to, becasue it very much depends on the product involved, the individual's situation, and on what is and isn't covered in the warranty policy.

As Otherclive has commented his policy was of no use for the problems he had.

Strictly you do not need extended warranties, becasue your statutory rights as described in the Consumer Rights Act (CRA) provides you with a potentially powerful set of remedies, BUT: whereas with an extended warranty, the types of failure are well defined and if your product fails within one of their categories its usually fairly straight forward to get the product repaired, replaced or refunded depending on T&C's of the policy.

By comparison the CRA for failures after the first 6months you do have to be able to show the the fault was due to particular types of failure.

Often the suggestion that a customer will use the CRA will be enough encouragement to get the seller to accede to repair or refund as appropriate without having to actually formally start proceedings.

The CRA costs nothing, and can have effect up to 6 years (5 years in Scotland) which is often better than the combination of the normal manufacturers warranty and extended warranty combined.

 

[Hutch]

I take it your talking about Extended warranty for Cars. ?
I am not sure about this CRA stuff, but extended warranties cost a lot of money and you have to pay more the older the car gets.
I took one out for a year after my Santa Fe ,came out of its warranty period, after that I stopped.
The reason being, after talking with my son who works at Jag LandRover on Technical Design, and he mentioned that if the part had not failed by the end of the warranty period then it would probably last half as long again. Which agreed with my own thoughts being a retired engineer, ( if engineers ever retire).

 

[JezzerB]

We never take extended warranties on any item normally; except Richer sounds for their goods; 10% of cost price and refunded if you don't use the warranty/claim on it. Argument being if it gets through the initial warranty it should do 5-6 years-as Hutch says. We've been bitten twice; both Panasonic DVD player recorders; both went wrong a couple of months out of warranty-never bought their stuff since!

 

[Raywood]

I have never taken one but it is not something I would criticise. You need to be sure how long you are going to keep the caravan and compare the premium against the chance of a claim and see if it makes sense to you. Do check the wording before you buy though to see if the cover is what you need and check exclusions.