Are extended warranties worth it? - WFLA News Channel 8

Are extended warranties worth it?

Posted: Updated:
Customers are often asked if they want to buy an extended warranty. Customers are often asked if they want to buy an extended warranty.
TAMPA, FL (WFLA) - You shop. You find. You purchase. That's what we do during the holiday shopping season.

But, inevitably, once you reach the cash register you will also be asked whether you want to also buy an extended warranty. They're offered on many products these days.

"Buying an extended warranty is really a personal preference. Consumers need to know what it is they're buying and is there any need to have an extended warranty on it," says Bryan Oglesby of the Better Business Bureau.

Oglesby says to keep in mind that most products already come with a one year manufacturers warranty. So, if you are considering a extended warranty find out "Does it extend from the date of the expiration of the manufacturers warranty or does it start from the date of purchase?"

 Consumer Reports.org recently advised against buying extended warranties in general, calling them notoriously bad deals. Consumer Reports data shows products seldom break within the extended-warranty window and when electronics and appliances do break, the repairs, on average, do not cost much more than what you pay for an extended warranty.

More consumer coverage: IKEA recalls lamp following death of child

"If you're a person who drops things often and you want it to cover accidental damage but it doesn't, is a warranty really worth investing in?" says Oglesby

 That's why one important key is to know what the extended warranty actually offers. Some experts believe they can be a good and convenient investment for larger items like big screen televisions, refrigerators, etc.
 
"There are warranties out there, they will come out to your home, they will do repairs on site, you can bring it to a local repair store and if that fits your needs and the investment in the warranty is worth it," says Oglesby.

 Also, check with your credit card company. Often, credit cards will extend the life of a manufacturers warranty negating the need for buying extended protection.

The bottom line, according to the Better Business Bureau, is do your homework.

"Don't feel pressured to purchase the extended warranty on the spot. Ask to take the information home, review it, understand it. If you have questions, ask about them, and then make an informed decision if you want to buy a warranty."

It is also important to stay organized. Keep your receipts, product handbooks and warranties in one place to make it easier if you do have a problem.

Also, if you are considering purchasing an extended warranty, check out the company first. The BBB says it receives complaints frequently about warranty companies going out of business, leaving consumers high and dry.

Sign up for free breaking news and headline email alerts
  • 8 On Your SideMore>>

  • Pinellas homeowner ends up the loser after local government mistake on property taxes

    Pinellas homeowner ends up the loser after local government mistake on property taxes

    Tuesday, July 22 2014 5:59 PM EDT2014-07-22 21:59:58 GMT
    This Preservation land is at heart of homeowner tax dispute in PinellasThis Preservation land is at heart of homeowner tax dispute in Pinellas
    Melanie and Jeffrey Cornwell should have been getting a tax break for years on part of the homestead property in Dunedin they call their "little piece of Heaven." But due to a mistake at the Pinellas Property Appraiser's Office, they won't see any rebates for previous taxes, just a break on future tax bills.
    Melanie and Jeffrey Cornwell should have been getting a tax break for years on part of the homestead property in Dunedin they call their "little piece of Heaven." But due to a mistake at the Pinellas Property Appraiser's Office, they won't see any rebates for previous taxes, just a break on future tax bills.
  • RECALL: Fruit at Trader Joe's & Costco

    RECALL: Fruit at Trader Joe's & Costco

    Tuesday, July 22 2014 5:45 PM EDT2014-07-22 21:45:14 GMT
    A Central California company has issued a voluntary nationwide recall of specific lots of its fresh peaches, plums, nectarines and pluots over concerns of possible listeria contamination.
    A Central California company has issued a voluntary nationwide recall of specific lots of its fresh peaches, plums, nectarines and pluots over concerns of possible listeria contamination.
  • How thieves clone your credit cards

    How thieves clone your credit cards

    Tuesday, July 22 2014 9:15 AM EDT2014-07-22 13:15:02 GMT
    File photoFile photo
    Patricia Stack didn't know her debit card number had been stolen until she tried to withdraw money from her bank account. "A couple weeks ago I tried to get money out to pay my power bill and there was nothing in it."
    Patricia Stack didn't know her debit card number had been stolen until she tried to withdraw money from her bank account. "A couple weeks ago I tried to get money out to pay my power bill and there was nothing in it."
  • Sign up for WFLA News Channel 8 Email Alerts

    * denotes required fields






    Thank you for signing up! You will receive a confirmation email shortly.
  • Most Popular StoriesMost Popular StoriesMore>>

  • Couple arrested for having sex on Cortez Beach in front of beachgoers

    Couple arrested for having sex on Cortez Beach in front of beachgoers

    Tuesday, July 22 2014 1:08 PM EDT2014-07-22 17:08:35 GMT
    Bradenton Beach police officers were dispatched to Cortez Beach after a few people called 911 and complained about a couple having sex publicly, right next to a little girl on the beach.
    Bradenton Beach police officers were dispatched to Cortez Beach after a few people called 911 and complained about a couple having sex publicly, right next to a little girl on the beach.
  • 'Faces of Meth' program launched by Sheriff's office

    'Faces of Meth' program launched by Sheriff's office

    Monday, July 21 2014 6:37 PM EDT2014-07-21 22:37:35 GMT
    'Faces of Meth' is a project of the Multnomah County Sheriff’s Office.
    'Faces of Meth' is a project of the Multnomah County Sheriff’s Office.
  • New surveillance shows Tampa boy's death as hit and run

    New surveillance shows Tampa boy's death as hit and run

    Tuesday, July 22 2014 4:51 PM EDT2014-07-22 20:51:45 GMT
    A still image from a business surveillance camera shows what appears to be a small boy running on the sidewalk.A still image from a business surveillance camera shows what appears to be a small boy running on the sidewalk.
    New surveillance video has Tampa Police investigating 4-year-old Marterrance Albury's death as a hit and run. 
    New surveillance video has Tampa Police investigating 4-year-old Marterrance Albury's death as a hit and run. 
Powered by WorldNow

200 South Parker Street, Tampa, FL 33606

Telephone: 813.228.8888
Fax: 813.225.2770
Email: news@wfla.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.