I worked in a camera shop, and we made a huge profit on the warranties. But basically nobody ever went through and put in a claim. If you know that you would use it if it came up, then go for it. If not, save your money. They really bank on if it fails, that it will happen in the first year and be the manufacturer's problem, or that it won't happen at all (at least until after 3 years).
Warranties are just means to get more money out of your pocket, HUGE profits for those who sell warranties. My german car mechanic who only works on high end german cars, laughs at the motion of warranties. It gives people a false sense of security and thats why people fall for them. In my opinion, "Warranties" are not needed, it provides a false sense of security and its money not well invested. Put that extra warranty in your savings, cd account and have it earn interest, you'll get better results!
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