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Should I Buy A Protection Plan For A New TV?

Review by petey1 on 2008-10-03
WOODBRIDGE, NEW JERSEY -- An employee at Best Buy recommended it.
Comments:12 Replies - Latest reply on 2014-03-24
Posted by Anonymous on 2008-10-03:
No. They are not worth the paper they are written on. Once the manufacturer's warranty expires you're better off handling repairs out of pocket.
Posted by Sparticus on 2008-10-03:
Typically I avoid protection plans offered from retailers. Most TV's come with a standard manufacturer warranty for usually up to a year. If the TV is a lemon, you will find out within the first year.

However I think a little more information would be helpful here. How much are you planning on spending for the TV and how much are they offering the protection plan for?

Posted by Anonymous on 2008-10-03:
My vote is no. I've had a Sony Bravia XBR4 for over a year now, bought it at Circuit City. To this day they continue to call and send mailers wanting to know if I want to buy the plan. I've retained a card that expires at the end of the month, just in case my set crashes. That way, I can BUY the plan IF it does until that time, giving me a bit of a warranty. Overall, most extended warranties, particularly for automobiles and electronics are NOT worth it because of the language that doesn't cover everything you think it does.
Posted by tnchuck100 on 2008-10-03:
NO! Especially from Best Buy. They are one of the sorriest when it comes to extended warranty performance. Just research it here and it will become very obvious.
Posted by Anonymous on 2008-10-03:
Nope, nada and stay far away from the Sony Bravia right now. Thousands of complaints (many on this site) and the Sony Bravia sets have a couple of recall notices out. Check recall notices on any TV you're looking at. That will give you a baseline to judge the unit by. A TV with no recalls and low consumer complaints should not need an extended warranty right?

Chuck also makes an excellent point about Best Buy.
Posted by Anonymous on 2008-10-03:
I have a Sony Bravia... Top notch. Everybody comments about the superior picture. I only hope I'm lucky enough not to have one of the defective ones.

Extended warranties are not warranties but actually insurance policies. On an actuarial basis there's way too much profit factored in for these so called warranties to be a good deal.
Posted by lobo65 on 2008-10-03:
No, don't buy one. Retailers make more money off warranties than they do the product. Of course Best Buy is going to recommend you get one because nine times out of ten it is pure profit for the store. If you bought a reliable model the chances of you actually getting your money's worth is very low.
Posted by lobo65 on 2008-10-03:
What they also won't tell you is that many times your TV has to be sent out for repair 3 times before you qualify for a replacement. If you are authorized for a replacement you get the current value of the set adjusted for today's price. In other words if you paid $2,000.00 for a TV, and it's now work $1,000.00, that is the amount of credit you will receive toward your replacement. In addition when you do get the new set your original warranty is ended. You have to buy a new warranty on the new set.

Best Buy and Circuit City certainly won't disclose these facts, but presumably (since I never have bought one of their warranties) the info is buried deep in the fine print.
Posted by Slimjim on 2008-10-03:
My inclination is also no. Today's electronics are so reliable historically, it seems unlikely to experience any problems with TVs anymore. Now the Sony Bravia mentioned may be a different story. If you got one of these, considering the recalls and problems that have surfaced, I think I'd check into that warranty seriously.
Posted by nstigator39 on 2008-10-03:
I would not buy the extended warrenty. Best Buy will keep you stringing along forever before you get anything done.
The thing I do is purchase my electronics from Costco. You automatically get a two year warrenty, plus they handle all the details for you in dealing with the maker of the product. I know I have used it and it saved me $668.00 on a computer.
Posted by wilmer0072009 on 2008-10-09:
Segments on TV and online have all said the same thing. DO NOT GET ANY EXTENDED WARRANTY FOR ANYTHING YOU BUY UNLESS IT'S A BIG PURCHASE LIKE TV'S. Retailers make money on thses extended warranties that you'll probably never need but for a big purchase they are worth it. TV's are expensive when my mom get her 50" Samsung 720P HDTV Plasma she got a 5 year extended warranty plus the 1 year manufacturers warranty when we went to buy my 46" Samsung 1080P HDTV LCD i got the 5 year extended warranty to. They both cost about the same (i think it was $200). Her tv costs $1500 mine cost $1400 so when you do the math your paying $40 a year to insure a really big purchase which comes out to $3.33 a month, now that's worth it.

Take this bad example. MetroPCS charges $4 a month to insure you phone plus you gotta pay $50 to get a new phone if you lose it or whatever, now that's alot worse than a TV don't u think. I laugh at all my Friends who have this on the MetroPCS phone because MetroPCS is just milking them. There better off buying a brand new phone than get the insurance.
Posted by Dion Reed on 2014-03-24:
Regardless of what you read here about the dependability of electronics let me tell you that TV's made today will not last as long as the ones your parents had.Second.bestbuy covers cracked screens.i was able to return my Westinghouse tv with a shattered screen and they replaced it.its worth the extra money.

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