[john1970]

Dear Everyone,

I am having a new Panasonic plasma delivered this Saturday and had a couple of questions about extended warranties:

1) Are they generally worthwhile?  A 4 yr plan is ~$300.
2) Would you purchase the warranty from the manufacturer or a third-party?

Thank you in advance for the advice.

Cheers,

John

[whoaru99]

As a general rule I do not buy extended warranties on electronics. If you buy the TV using a credit card many cards automatically double the mfg warranty, even if you pay the balance in full next payment.

Typically, but of course not always, electronics fail early or last a long time. If it doesn't fail in the first year or two it probably won't.

Like any insurance policy you pay to share the risk. Many people pay, few people collect, the company pockets the difference. Of course, a person or two will be along to say it was the best thing they ever did but they are in the minority. The policy wouldn't be selling for $300 if the majority of people had claims totalling more than that on average.

FWIW, I have a Panasonic plasma, going on 4 years(??) now, never a lick of problems...knock on wood.

[shawnbaden]

As a general rule I do not buy extended warranties on electronics.

Typically, but of course not always, electronics fail early or last a long time. If it doesn't fail in the first year or two it probably won't.

I'll echo everything whoaru99 said.  I also don't buy warranties for electronics (or other things) because items typically will show fault early or not at all.  I've had a 37" Panasonic plasma for about 5 years and it's never hinted at having a problem.  I bought a 50" Pioneer Elite plasma a couple of years ago and again, it hasn't had a single problem.

I'm not sure what model you bought but I look at it this way.  Current Amazon pricing (including shipping) is ~$750 for a 42" Panasonic plasma and ~$1000 for a 50" Panasonic plasma.  I'd keep the $300 and consider it a down payment on buying a replacement in the unlikely scenario that the one you purchased fails.

[TheChairGuy]

Generally speaking, big screen TV's is a low margin business

The extended warranties offered are more so for the benefit of retailer or manufacturer rather than consumer.  A retailer will often make as much on the extended warranty as the the $1000 TV itself (or, indeed, more)

Everyone's comfort level is different...but, the advent of extended warranties are more for the benefit to either retailer or manufacturer, than the consumer.

I think Consumers Reports roundly recommends avoiding extended warranties on electronics; citing at the high cost is generally not worth considering.   

With the exception of laptops ($149 for 3 years at Best Buy where I buy a new one every ~ 3 years...but this includes one battery change worth ~ $150 so I consider it a trade-off with peace of mind) I avoid warranties on electronic gear.

Speaking from perspective of someone with 25 years selling consumer products, most electronic gear either fails right from the start or works for many years.  One way to circumvent the DOA issue is to buy refurbished....this is not only less costly, but you have actually had a technician fix whatever ills it originally had.  I find refurbished electronics to be one of the best buys out there - discounts, and greater peace of mind

That's different than Open Box...that's where something was returned after opening and you get a discount for the ugly box, etc.  These items have not been checked/serviced.

John

[Zero]

1) To mirror what others have already said; usually software and/or hardware issues tend to show up within the first 30 days of use. I'd only consider an extended warranty on a TV If I qualified for anything listed below:

a) You plan on moving your TV a lot.  ( This is particularly applicable to military families )
b) You will have young kids around the TV. ( Especially if they are 12 years old or younger )
c) If those kids will be using the Wii console around your TV.  ( You'd actually be stupid NOT to consider it under that particular circumstance, even if you will be the one playing the Wii and not the kids ).
d) You just happen to live in an area thats especially prone to power surges, thunderstorms, or earth quakes.  ( While most warranty services have "act of God" escape clauses written into the contract, I've found that most store managers (From Best Buy) will still take care of you. )

Of course, all of the above assumes that the warranty plan being offered to you covers accidental damage. If you do not qualify for any of the above, then I'd pocket the money and use it towards other nifty things.


2)  No. Stores like Best Buy are typically much easier to deal with than any manufacturer. While I don't know how it is to deal with Fry's, I do know that If you have to use your Best Buy extended warranty, usually they will either a) Have a tech come to your home to service / pick up your TV,  or b)  Will have you drop off the TV to the store so they can either send it out for repair, or replace it all together. Manufacturers are typically a lot more difficult to deal with. Their service is usually slow, and they often contract 3rd parties to do any sort of assessments/service. This adds one more chain in the process. So nope, if you're going to get a warranty, I'd get it from the place you bought the product from (at least if its a place like Best Buy).


Also, as an aside:  It's no secret that pricey extended warranties are there to make the store money.  The truth is that the profit margins on most electronic devices are nearly non existent. In fact, big screen TV's and other home theater goods are about the only major electronics left that still have a decent margin built into the price (IE: Where the store actually makes a decent profit off of each sale). Things like laptops and cameras? Psh. Stores would be lucky to make even $50 off that $1000 laptop that you just bought. Ironically enough, laptops and cameras are the two items where warranties may actually be a good investment..  but thats another story entirely.

Still, no matter what you decide on....  that Panasonic G25 is a bad-ass plasma.  Enjoy!

[john1970]

Hi Everyone,

So here is a bit more information.  I purchased the TV from Pauls TV in Jordan Furniture and I have a confirmed delivery this Saturday. 

Paul's TV has a 4 yr coverage plan for $299 that includes the following:

•100% Parts and Labor Coverage
•Protection if your product is considered a Lemon
•Power Surge Coverage
•Unlimited Service Calls
•In-Home Repair for Televisions 40" and larger
 •Transferable - Ideal for gift giving or resale
•Fully insured by an A-Rated insurance Carrier
•No Hidden Costs or Deductibles
•24-Hour Toll Free Customer Service

Alternatively, Panasonic has a concierge plan for $399 that includes in-home service for 4 yrs and a loaner TV in-case the repair takes 5 or more days.

Best,

John

[Zero]

I'm going to be blunt on this one:

While it's cool that you are supporting a brick and mortar type operation, the bottom line is that for the same amount of money (or less) you can go to Best Buy and get a premium plan that will A) cover accidental damage, and B) Guarantees that if your TV has been damaged beyond repair, that you will be given a new (similar) product. This guy is basically offering the same exact service that Panasonic provides, with the extra benefit of the protection against power surges (Something that no manufacturer will cover).

Anyways... congrats on the TV. If you already got the warranty, cool. It may make you feel better about having long term service on your product. If you haven't purchased the warranty, I'd keep it that way. 

[john1970]

I'm going to be blunt on this one:

While it's cool that you are supporting a brick and mortar type operation, the bottom line is that for the same amount of money (or less) you can go to Best Buy and get a premium plan that will A) cover accidental damage, and B) Guarantees that if your TV has been damaged beyond repair, that you will be given a new (similar) product. This guy is basically offering the same exact service that Panasonic provides, with the extra benefit of the protection against power surges (Something that no manufacturer will cover).

Anyways... congrats on the TV. If you already got the warranty, cool. It may make you feel better about having long term service on your product. If you haven't purchased the warranty, I'd keep it that way.

Unfortunately, Best Buy does not sell the particular model I was interested in purchasing otherwise I probably would have purchased through them.