I'm buying a whole new entertainment system set-up through Best Buy. Spending more than I should and getting more than I need, but whatever, it will be nice. Do you guys buy the protection plans for such purchases, or are they scams? I'm on the fence on this.

Help me CSFMB, you're my only hope.

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I personally do not. They make a ton of money on those protection plans because unless something catastrophic happens, people usually don't collect on them. And if it malfunctions, it's under warranty anyway. If your house burns down, you have insurance. And though I have never read one of these protection plans, I have heard that there are a litany of exclusions regarding maintenance, how it is hooked up, cosmetic damage, etc. Most professional opinions I've read say the same thing.

Just IMO, though.

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I have frequently read the same thing regarding extended warranties -- they are largely a waste of money. If the item doesn't malfunction during the warranty period, it most likely won't.

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Sherman remarked, "Well, Grant, we've had the devil's own day, haven't we?" Grant looked up. "Yes," he replied, followed by a puff. "Yes. Lick 'em tomorrow, though."

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"All crowds boycotting football games shouldn't care who sings or takes a knee because they aren't watching." - Nas

Dont buy it. I never do.

And Best Buy will try to sell you a coverage plan on everything.

You go buy a music cd at bb, go to checkout, they ask you if you want to protect it. No, for a fucking music cd! are you kidding me!

I agree with the above posts. Do not buy an extended warranty. There’s a reason they push them so hard...big-time money makers. I’d add that’s especially true for modern electronics. If something is going to go wrong it will usually happen within the basic warranty period.

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“Mr. Trump is unfit for our nation’s highest office.”- JD Vance
“My god, what an !diot.”- JD Vance tweet on Trump
“I’m a ‘Never Trump’ guy”- JD Vance

This just affirms my thoughts on them.

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Same reasons mail in rebates exist. People get pantsed on them

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the world will always the world. your entire existence is defined by your response.

Big NO.

I am guessing, if you were to add up the cost of all the extended warranties you had the opportunity to purchase throughout your adult lifetime, that total would far exceed any payout you would happen to collect.

And unlike a house or a car, if a component were to go out, you likely could afford to immediately replace it without sweating too much.

I only insure what I cannot afford to loose or what I am required to by law.

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"I honestly don't see a good bet on the board here."

Never. Look at it over the long run. Say you paid for every one on everything that you can. It would literally be thousands of dollars that you would be paying for these things so even if your new toaster breaks and you get a new one(after a deductible) you are still losing big money.

We finally had something that happen that would have been worth a claim on a protection plan. A little over a year into having a new phone my wife dropped it and it destroyed the screen beyond repair. We went to the Verizon Store and the guy was really pushy on why this is why you need a protection plan for your phone as it would be replaced. I originally was nice and simply told him no but he kept on pushing, which I think was an attempt to get my wife who obviously was a little bit unhappy that her phone got broken to get it. I then explained to him that your protection plan is $13 a month, so we already would have spent over $180 "protecting that phone" and you can double that if we had also protected my phone and even more if we did all four on our plan and that doesn't include any potential deductible. So, we don't want the protection plan because we are paying less by just replacing it on our today, and she gets a new phone rather than the old model she just replaced. That doesn't even get into the fact that if we had these types of plans the whole time we would have spent thousands on it and this would have been the first time we used it. The guy wouldn't even acknowledge any of that and just moved on but you could tell he wasn't too happy with the rest of the transaction.

I mean, I get it that he probably gets a nice payout from selling those plans but when someone clearly knows it is a bad deal then just stop trying to push it.

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You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

i think some credit cards add an extra year to the warranty. i think it's well known costco adds a second year on the warranty too. I tend to over research my big electronic purchases so I kind of feel the upfront research more or less eliminates chances of buying a crap device.

the bigger concern here is that you are lazy and are willing to pay a bestbuy markup rather than buying the components separately.

I have only went with the extended warranty once. I bought a new VW in just the right color, style and features. Talked him down to $600 and that policy paid on everything but routine maintenance. It's a VW, there's going to be problems, and it really paid off in the end.

Still wouldn't recommend it.

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Sex isn't dirty, sex isn't a crime. It's a loving act between two or more consenting adults.

-Hank Kingsley

Guilty as charged, but I won't have to do a damn thing to set it up.

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when my buddies dad died, he found a folder in the filing cabinet. it was literally 20 years worth of extended warranties that his dad had purchased. he counted up like over 20k spent on warranties. his dad got them on everything. he's pretty sure none tof them were ever exercised.

That is okay Franky. Revel in your success.

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Elections have consequences.

If it breaks, just destroy it and then ship it with insurance. That way the post office will have to pay for a new one. Its a write off for them.

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