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Protection Plans

1968 Views 26 Replies 16 Participants Last post by  curly21029
I was looking to get a new S1 panny. Is it worth it yo buy the protection plan?
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Quote:
Originally Posted by freezy74 /forum/post/18112337


I was looking to get a new S1 panny. Is it worth it yo buy the protection plan?

You obviously haven't spent much time here. If you had you'd know that the protection plan is totally unnecessary because the simple act of purchasing a tv automatically entitles you to free repair or replacement for as long as you own the set--you just have to hound the mfgs. customer service division with demands to be transferred to the corporate ceo and then threaten to involve your state's Attorney General and/or local tv stations consumer watchdog in your crusade against those greedy tv makers



Stores make a profit on those extended warrantys, so they must be inherently evil, just like anything else that makes them money (filthy stuff, that money) so they can keep their doors open allowing people to actually look at new tvs before purchasing them online.



On a more serious note, the failure rate on these tvs is very low--something like 3% need repairs in the first 5 years according to Consumer Reports. The average cost for one repair is usually more than the extended warranty costs, however, and on occasion the set can't be repaired either because the parts are not available or the cost of the repair is more than you originally paid for the set. It's a gamble with the odds stacked in favor of the retailer or third party wty provider, but so is car insurance.


If you can easily absorb the cost of repair or replacement in the rare case that the tv does go bad the extended warranty is a waste of money. If you can't but are comfortable with the 97% likelihood that it won't need a repair in the first 5 years it's also a waste of money. If you insist on total peace of mind and the wty doesn't bust your budget then it is worth the money. Be sure before purchasing exactly what is and isn't covered, whether the retailer backs the warranty themselves or if it's administered by a second party like AIG, whether coverage will continue on any new replacement set, and whether the service is provided by the retailer's own service facilities and personnel.


Panasonics are among the most reliable tvs you can buy with few if any known outright reliability issues on the S1 series so far (and they've been out for almost a full year now). I'd be much more likely to buy an extended warranty on a set with known issues like the bad power board capacitors on some models of Samsung LCD, or on a third tier mfg. set with poor or no parts availability and no real track record for good reliability.
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I think you should look into the percentage of the cost of the plan vs. the tv and what is covered in the plan. If it's a protection plan, it generally covers more then a extended warranty. Yes the reported failure rate is pretty low, but you would be amazed at the number of issues we have to deal with on a regular basis. Yes, stores do profit on plans. It's a simple gamble. TV breaks, store loses money, TV is fine for the plan duration, customer loses money. End result, the decision is up to you. It's fine to post on a board, but I guarantee most posters will automatically say no. Do the research yourself and decide what's best for you. Sometimes the plan is worthwhile because of the time saved or the peace of mind. Value is up to you.
I normally do not purchase the plans but did on my last purchase of a Samsung 32" lcd I did it. The dealer has a plan that if you dont use it you get store credit in that amount once it expires.
It is insurance, nothing more, nothing less. Do you add insurance, on top of your homeowners or apartment insurance, for expensive pieces of jewelry? Same thing. The insurance company makes money on average since the vast majority of people don't ever need it, but if you do need it, you're happy you have the insurance. There is no right or wrong answer for everyone -- it depends on whether you can afford to rebuy the equipment down the road, plus peace of mind is worth something for most of us.
My one gripe about Mack is that it is an extended warranty, not a protection plan. This is one way they can offer cheaper plans. If you look at the fine print, they extend what the manufacturer covers for the plan duration. They don't cover burn-in, power surge, dead pixels, normal wear and tear, dust, heat, humidity, etc.

"The equipment will be restored to proper operating condition at no charge to you (this includes warranted parts and labor for manufacturer defects). Such service, repair, adjustment of the equipment is assured the registered contract holder, provided the equipment has not been tampered with, modified, damaged as a result of liquid, grit, power surge, burn-in, impact and physically broken parts. This service contract only covers a unit malfunction. Customer maintenance is not covered. Mack Camera & Video Service reserves the right to terminate service contracts if invoices are not paid within terms or are fraudulently altered by the dealers or service contract holder."
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And that's all you need, if you are careful with your set. These scare tactics to sell the protection plans make me sick. I had one salesman tell me that my plasma had to be cleaned out every year for dust. I called him the liar that he was and asked for someone else. If he lies to me like that, I'm not letting him get the commision for the sale.
Why would do you need protection from accidental damage on a TV? I for one, do not carry my TV around like a laptop or phone, and I don't sit a foot away and drink coffee. I don't sit within spitting distance so if someone makes me laugh and pop shoots out my nose it won't hit the TV. I don't move it very often, and when I do I am very careful.


Accidental damage coverage is reasonable on iphones, cell phones and laptops. Not for TV' that sit in or on a cabinet or hang on the wall.
Well not all salespeople make commission for plans. I actually don't make commission on anything which sucks when you sell $2m+ every year. I definitely have seen salespeople say anything to try and sell a plan. As far as the dust, you'd be surprised at how well people take care of their tvs these days. I still believe the salesperson was wrong to pitch a plan like that, but I've seen way too many tvs not taken care of and beat up when they come in to the store.

Quote:
Originally Posted by HawaiianBoy2593 /forum/post/18119602


My one gripe about Mack is that it is an extended warranty, not a protection plan. This is one way they can offer cheaper plans. If you look at the fine print, they extend what the manufacturer covers for the plan duration. They don't cover burn-in, power surge, dead pixels, normal wear and tear, dust, heat, humidity, etc.

"The equipment will be restored to proper operating condition at no charge to you (this includes warranted parts and labor for manufacturer defects). Such service, repair, adjustment of the equipment is assured the registered contract holder, provided the equipment has not been tampered with, modified, damaged as a result of liquid, grit, power surge, burn-in, impact and physically broken parts. This service contract only covers a unit malfunction. Customer maintenance is not covered. Mack Camera & Video Service reserves the right to terminate service contracts if invoices are not paid within terms or are fraudulently altered by the dealers or service contract holder."


Best Buy Protection Plan is normally around 450 where as the Mack plan is at much better pricing , as long as you have a surge protector and you keep your house clean you should have nothing to worry about.
What source do you have that our plan is $450? The plan for the 50s1 is $219 for 4 years.


Most people skimp on the surge. They'll buy a cheap 6 outlet surge and plug everything into it, their tv, cable/sat box, dvd, game system, and then expect the $10 surge protector to cover all their equipment.


I've got nothing against your company, I think you guys do a great job and offer excellent customer service. I'm just comparing plans and what is/isn't covered. Obviously price is a big factor. The plan is the choice of the consumer. Whether he/she purchases it is totally up to them. They need to decided what is best for them for coverage, cost of plan vs. product, etc

Quote:
Originally Posted by HawaiianBoy2593 /forum/post/18122766


What source do you have that our plan is $450? The plan for the 50s1 is $219 for 4 years.


Most people skimp on the surge. They'll buy a cheap 6 outlet surge and plug everything into it, their tv, cable/sat box, dvd, game system, and then expect the $10 surge protector to cover all their equipment.


I've got nothing against your company, I think you guys do a great job and offer excellent customer service. I'm just comparing plans and what is/isn't covered. Obviously price is a big factor. The plan is the choice of the consumer. Whether he/she purchases it is totally up to them. They need to decided what is best for them for coverage, cost of plan vs. product, etc


That is what your website has. for a TV 2299 the 4 year protection plan which is 4 years from date of purchase is 450.


Whereas one of our dealers clevelandplasma who is a forum sponsor has our 3 years extended which starts after mfrs warranty is exactly half that price for a tv under $2500
I'd have totally given Mack warranties a look. However, the other day I saw a thread pop up on here that made me rethink that idea. More than one person posted about the poor support and months long waits they had to endure to get service to their TVs. You might pay more for the Best Buy warranty, but I'd trust that more than Mack. At least you can walk into a Best Buy and deal with someone directly, where as the Mack company can hide behind the phone and not have to face anyone.
Hawiianboy, why are you even here? People who requent this forum take better care of their equipment, are much more informed and most of all, don't buy the Best Buy BS. We all know better.


And I know for a fact, that while you may not get commisions on the service plans, bonus's and performance ratings are based on how many you sell so you do have incentives to push them whether they really need them or not.
So while I do believe I fully wasted my money, I did purchase the plan. On line it said it would be $399 which I was not going to pay. Once there it was $250 so I said screw it. To me its knowing that I now an not going to need it vs. not having it and I know i will. I 'm sure its obvious its my first real TV.....
For me, extended warranties have paid off. Some are better than others. I bought the first 60gig PS3 when it hit the shelves and bought the extended warranty directly from Sony. At the 18month mark it died. I had to torture Sony by calling and complaining once or twice a week for over a month, but I got back the full purchase price plus sales tax.

When I bought the very first HD DVD player to hit the market(HD A1), I bought my extended warranty from Futureshop. Sure enough, it died at the 18th month mark. They tried to screw me by giving me a used HD A3 as a replacement, but I held my ground and raised my voice. I got new Sony blu-ray player instead. (close to comparable value at that point in time.)

I agree that it's usually a waste of money for tv sets. Especially as here in Canada you get three years warranty on Pioneer Elite sets. I didn't get an extended warranty when I bought my Elite 101FD.

Quote:
Originally Posted by MountainMan10 /forum/post/18121004


Why would do you need protection from accidental damage on a TV? I for one, do not carry my TV around like a laptop or phone, and I don't sit a foot away and drink coffee. I don't sit within spitting distance so if someone makes me laugh and pop shoots out my nose it won't hit the TV. I don't move it very often, and when I do I am very careful.


Accidental damage coverage is reasonable on iphones, cell phones and laptops. Not for TV' that sit in or on a cabinet or hang on the wall.

Not everyone is that careful:

http://www.youtube.com/watch?v=-xUhO...1&feature=fvwp


There are thousands of these incidents on record.
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