Originally Posted by TravisPNW
Hey all... 9 months into ownership I'm starting to get emails from LG about extending the warranty with the LG Premium Care the "only extended service plan authorized by LG." (???)
Has anyone done this? I've had no issues with the TV that is at around 1800 hours and the 1 year extension seems like an easy choice for $83 and there's also a 3 year extension for $479. I didn't buy mine at Costco so their $99 squaretrade isn't an option either... if that's even a good option.
So... recommendations? I've never bought extended plans and have generally had good luck with electronics over the years with the exception of one LCD panel that died a few months into ownership. At the same time though I've never paid $2500 for a TV till now either.
P.S. I'm assuming it's ok to talk protection plan pricing in this thread.
You will get lots of opinions on this question. Some people swear by extended warranties, others (me included) never buy extended warranties on anything. Ever wonder why the manufacturers and stores are all over trying to sell you extended warranties...because they are huge profit makers for them. Now you will get lots of posts from people basically saying, in general terms, the same thing "I purchased an extended warranty for $x and am so glad I did because I saved $y (much bigger number than $x) on repairs, or got a new product, etc, etc". But this is all anecdotal evidence and of course you never hear from the vast majority of people who purchased the extended warranty and never used it (hence the huge profits).
Net is this is all a personal decision and opinions will differ. I will not post again on this subject but will leave you with this write-up that I saved from someone else that I thought pretty much summed things up nicely on extended warranties -
What is an extended warranty? A wager between two parties. Look
at what each party brings to the table:
The manufacturer, with all his collective experience, design specs,
intimate knowledge of assembly techniques, tolerances, quality
control, etc., is betting that the product will not fail in any
manner specified in the warranty during the warranty period which
will cost more than the price of the warranty to repair (note who
writes up the terms of the warranty).
You, with no knowledge of the product, have only a vague fear that
it will catastrophically break down during the warranty period and
that repair of such failure will cost far more than the price of the
warranty. On what do you base this opinion? Are you intentionally
buying what you consider to be junk?
Cars, motorcycles, computers, TV's, etc., are all manufactured using statistical sampling techniques for quality
control. The normal warranty that comes with each is an admission
of that it is entirely possible (eventually, inevitable) that an
individual product will not live up to the quality of the group. It
allows the manufacturer to catch the odd substandard product and
bring it up to his standards of quality, without having to
exhaustively test each step of each product throughout its
manufacture. Once the product makes it through the initial warranty
period (whether it required service under that warranty or not), the
manufacturer knows that it is "up to snuff," i.e., conforms to his
specs, quality, etc. At this point, he *knows* how long it will
last. An *extended* warranty is not a safety net for the
manufacturer, it is a chance to make money, by making a wager with
the customer concerning the performance of the product -- *his*
product. He knows it better than you.
Do you wanna bet?