Extended Warranty for my Plasma TV. - AVS Forum
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post #1 of 12 Old 03-04-2013, 05:54 PM - Thread Starter
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I have been diligently shopping and researching for an extended warranty. Many believe they are a waste of money, which if you never have a problem they are. But my personal past history says they are a must. Electronics in general are not built to last these days and problems happen all the time. the 3 mentioned here are all under $150 for 5 years.

I have looked at several companies and have eliminated most. Some highlights from My finalists.

Warrantech "Preferred" Service Plan WCPS. looks like a great warranty except one very big negative; there is an escape clause that allows them to simply refund your premium under certain circumstances. They can also cancel the coverage anytime with written notice.
Quote:
SHOULD THE MANUFACTURER OF YOUR PRODUCT BECOME INSOLVENT OR SUBJECT TO BANKRUPTCY
PROCEEDINGS OR THE MANUFACTURER NO LONGER PROVIDE PRODUCT SUPPORT AND ALL PARTS SOURCES
HAVE BEEN EXHAUSTED DURING THE COVERAGE PERIOD OF THIS SERVICE AGREEMENT, ADMINISTRATOR AND
WE SHALL BE EXCUSED FROM PERFORMANCE HEREUNDER AND YOU SHALL BE RECEIVE A FULL REFUND OF
THE PURCHASE PRICE PAID BY YOU FOR THE SERVICE AGREEMENT LESS CLAIMS PAID
Quote:
If we cancel this service contract, we must provide you with a written notice at least 15 days prior to cancellation
at your last known address, with the effective date for the cancellation and the reason for cancellation.

Mack 5 year ON Site Also well renown. The problem is if they want to buy you out they will give you the "current market value" of your TV. The current market value of a used TV is not much, definitely not enough to replace it
Quote:
Mack may, at our discretion, replace your unit with a reconditioned model or equivalent model of like kind and quality or refund you the current market value of your covered equipment in U.S. Dollars.

DTV Express thru Safeware This is the one I will most likely go with, Safeware Ins is BBB A+, There is NO escape clause. The Administrator cannot cancel the warranty except for fraud, if they buy you out you will get enough money to replace your TV with a similarly featured TV upto your original purchase price. The downside for some will be if the repair person is more than 35 miles from you , you may have to pay some travel expense. Not an issue for most.
Quote:
If the Covered Product cannot be repaired; if the cost of the repair exceeds the original purchase price; if parts are no longer available or are discontinued by the manufacturer, the Covered Product will be replaced as determined by Us with a product of similar quality and features
Quote:
We may not cancel this Agreement except for fraud, material misrepresentation, or non-payment by You, or if required to do so by a regulatory authority

DTV Express is lesser known and some of their previous warranties were not very good. It seems like they have changed their warranties over the years and have gotten a little better along the way. The current coverage is very good.

All 3 warranties have a no lemon clause.

All of the warranties exclude:
Quote:
(1) overheating caused by accumulation of dust, vermin or fan blockage; misuse and abuse; (2) any storage media damaged by malfunctioning parts; improper installation of computer components or peripherals; repair or replacement of upgraded computer components when repair or replacement is required due to incompatibility of parts or incorrect installation; (3) broken or cracked LCD screens in portable monitors; burned-in image in LCD, LED, OLED, Plasma or any other type of display; application programs

But this exclusion seems to always be listed under "computers and peripherals". Is a TV a computer or peripheral? I wonder if you press the company if you can actually get this covered. Has anyone filed a claim for this? Have you pressed the issue of "computer?

There is a warranty call CPS. Consumer Priority Service. They are BBB "F". I would avoid like the plague. This is different than Warrantech WCPS. Warrantech is BBB C. They are a very large company, I am sure they are reliable but many complain of the length of time it take to get a claim processed and the escape clause is a killer. Mack is also BBB A+ but they can pay a depreciated value if they decide not to replace the TV.

As always buyer beware, do you due diligence. There are other products out there I did not discuss like Best Buy and Square trade just to name 2. Best Buy in comparably very expensive, Square Trade was OK but there was some things I didnt like in the contract. I hope this was somewhat informative

Cheers
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post #2 of 12 Old 03-05-2013, 04:42 AM - Thread Starter
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Square Trade: I wanted to add Square trade since it is also very popular. They are a little more expensive than the other but have very good coverage and are BBB A+. The main difference with Square Trade is the warranty period overlaps the manufacturer warranty where the others 3 mentioned begin after the manufacturer warranty except is certain situations. They will pay market repalcement value. After reading Square Trade again, they would be my #2 choice after DTV Express and the main reason for me the for a few dollars less I can get an additional year of coverage and the coverage is almost identical. Square Trade is insured by Wesco who also happens to insure the Warrantech warranty
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post #3 of 12 Old 03-05-2013, 10:49 AM
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Hi! My name is Desiree and I am the Customer Experience Supervisor for Mack Worldwide Warranty. Please let me know if I can answer any specific questions regarding our warranties. I can be reached via email at helpdesk@mackcam.com.
Thank you,
Desiree
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post #4 of 12 Old 03-06-2013, 12:49 PM
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Thank you for your interest in Mack Worldwide Warranty. Unfortunately, we don't have any other plan. We try to find a replacement TV if we can. Keep in mind that TV prices keep dropping, and you might be able to get a better set for the reimbursement we offer you. Please let me know if I can be of further assistance.
Thank you,
Desiree
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post #5 of 12 Old 03-06-2013, 12:56 PM - Thread Starter
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Quote:
Originally Posted by Mackcam View Post

Thank you for your interest in Mack Worldwide Warranty. Unfortunately, we don't have any other plan. We try to find a replacement TV if we can. Keep in mind that TV prices keep dropping, and you might be able to get a better set for the reimbursement we offer you. Please let me know if I can be of further assistance.
Thank you,
Desiree
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post #6 of 12 Old 03-06-2013, 12:58 PM - Thread Starter
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Please clarify for all reading. Does Mack camera pay a depreciated value if there is a cash buyout or refund?
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post #7 of 12 Old 03-07-2013, 07:43 AM
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They give you a "comparable set". ie: if you paid $5000, you don't get a $5000 tv. If the features on the tv are duplicated by a set costing $800, you get that one.

Every financial review, organization, etc, etc, says extended warranties on TVs is a waste of money. Why do you think salesman hawk them like crazy. Ask anybody who has worked in electronics sales why. Take the money you would spend on the warranty and either have a broker buy a stock with it or go to a casino and put it on black.

Tony
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post #8 of 12 Old 03-07-2013, 08:36 AM - Thread Starter
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Quote:
Originally Posted by adone36 View Post

They give you a "comparable set". ie: if you paid $5000, you don't get a $5000 tv. If the features on the tv are duplicated by a set costing $800, you get that one.

Every financial review, organization, etc, etc, says extended warranties on TVs is a waste of money. Why do you think salesman hawk them like crazy. Ask anybody who has worked in electronics sales why. Take the money you would spend on the warranty and either have a broker buy a stock with it or go to a casino and put it on black.

From personal experience i will tell you they are not a waste. They can be a waste. There is quite of range in the details of the various contracts, a lot is hidden in the fine print and some warranties are a rip off. There are even a wide range of variance within one Administrator.

I bought a 61" Samsung DLP 4 1/2 years ago. I bought a warranty from the store it was with Assurant Solutions, it costs $150-$200 for the $1200 TV. The TV was repaired a few times during the warranty period with no hassles. Then this last December the TV started acting up again. IT was deemed unrepairable. They offered me $800 to replace the TV, They saw a 65" Mitsu DLP at Best Buy for that price and thought that was fair. I negotiated, told them I did not want the Mitsu, I said my Samsung was superior, I want to buy a 60" Samsung TV. They actually cut me a check for $1100, the price of the cheapest 60" Samsung LED at the time. I would have happily settled for the $800. This was a warranty working for the consumer. I would buy one again from them except now the warranty cost $750.

There are bad warranties out there, I know. You have to spend the time reading the details. I have found 3 different Warrantech warranties marketed thru different entities and they they are not equal, even within Warrantech, One has an escape clause, one does not. One will reduce a cash buy out by any repairs made, one will not. They create products to meet the need of the reseller.

If you pay $150 for a warranty, 1 repair will pay for it, everything after that is juice..... The retailer selling the Warrantech with the escape clause will refund 50% of the cost if you have no claims at the end of the term....how is any of this bad?

So I respectfully disagree with you and EVERY FINANCIAL REVIEW ORGANIZATION. If you are not willing to deal with the minutia then do not buy one.

You also do not have to buy the warranty immediately, they can be bought anywhere for 30 days to 6 months after the purchase, so there is plenty of time to research it
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post #9 of 12 Old 03-08-2013, 07:05 AM - Thread Starter
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Additional info:

DTV Express. I called Safeware, the Administrator for the current warranty. The Safeware rep will very helpful. He confirmed for me if the is a cash buyout they amount they pay will be reduced by any repairs made during the coverage period.. While this is less than ideal. it is still good coverage for the price. I could not find any adverse comments for Safeware. You must buy this warranty within 6 months of pruchase

SquareTrade. I called SquareTrade, their reps were also polite but not as easily understood. Squaretrade says a cash buyout will be for up to the amount you paid for the TV and not reduced by any repairs. It does not clearly state this in the terms in conditions but I read rip-off report for SquareTrade and even though there are lots of entries for them, a lot of people filing the complaint had a chage of heart after filing and having SquareTrade contact them to resolve the issue. Square Trade very often stepped up when there was a conflict and took care of the customer. SquareTrade warranty is only 4 years and a little bit more expensive than the 5 year warranty at DTV Express. Squaretrade must be purchased within 30 days of purchase.

Mack Camera disputes what I said ( and read online) that they pay a depreciated value for your TV. Additionally, Mack covers "manufacturer defects". Other warranties cover electrical and mechanical breakdowns, even from normal wear and tear. This is an important distinction. All I can say is they have been around a ,BBB A+ rated. but buyer beware. Every warranty I have looked at is worded differently and some are intentionally worded vaguely. IF you choose to buy a warranty I suggest staying with with BBB accredited.

Warrantech is not BBB accredited, I have personal experience with their product however. I have never a problem with a warranty of theirs on an item I purchased (i have filed many claims)but there are tons of complaints about them so again buyer beware. Personally I think a lot of complaints with all warranties stem from customers not reading or understanding the warranty and expecting something more than they paid for. If you just listen to a salesman's pitch you will be misinformed. Do your homework

Keep in mind many credit cards will double the original manufacturer warranty free as a perk of the card. So you can have 2 years of coverage for no charge. For me this would make any 3 year warranty pointless.
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post #10 of 12 Old 03-08-2013, 10:29 PM
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You use the ultimately silly logic of "My Uncle Ted's tv broke. He had a warranty". The reason ALL warranties are a rip off is because of MATHEMATICS. Math does not care what a person "thinks" or whatever happened to his Uncle Ted. The facts are that TVs have a very small repair rate (Panasonic, for example, is around 5%). Then you have the FACT that the overwhelming majority of failures that do occur happen UNDER THE MFG warranty. Add in little tidbits like buying with a premium credit card doubles the warranty and you have an extremely small chance you will ever collect. If you went to a casino and put your paycheck on black, you have slightly less than 50-50 that you will collect which is dramatically better than your chance with tv warranties. But you wouldn't do THAT because I guess it would be "stupid". This question has been done to death hundreds of times before, but like the people buying hybrids "to save money on gas", there is no amount of calculations or documentation that will make them deviate from their determined path.

Tony
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post #11 of 12 Old 03-08-2013, 11:40 PM - Thread Starter
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You are saying they are a rip off because the company makes money ? So every product sold is s rip off? Your TV is a rip-off? Don't buy a warranty if you feel that way. Some people want the peace of mind Thats what they are, a peace of mind. One trip out by a repair guy is $100 plus. Everything made these days is made to breakdown. Nothing lasts.

I already mentioned credit cards possibly doubling the warranty. Thanks for repeating me. This thread wasn't a debate on whether warranties are worth the money. I already acknowledged some are just plain bad. Did you even read the thread or just saw " another warranty post" and blew a gasket.? EVERYTHING SOLD TO CONSUMERS IS FOR A PROFIT! Even your retirement plan is making money fir someone besides you.
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post #12 of 12 Old 03-09-2013, 08:54 PM
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So what is the purpose of this post? This has been discussed here many many times.
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