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Almost 5 years ago we retired and moved across the U.S., bought a home and then began to replace and update the house. We bought all new kitchen appliances at BestBuy....we bought a 5 year warranty that covered all the appliances. Last December (over 4 years into the warranty), our top of the line LG dishwasher began to leak.....The Geek Squad came out, ordered parts and fixed everything. This year our GE glass top electric range started shutting off and flashing error codes. Again everything was fixed (basically the circuitry board was replaced).
About 3 months ago our top of the line Whirlpool counter-depth fridge started staying on all the time and running loudly....compressor issues was the diagnosis. The Geek guys tried twice to fix it...it cost about $2500 almost 5 years ago. On our third service call, our fridge was declared a lemon. Today our new fridge was delivered (equal replacement appreciated value to our broken fridge ..$2900).
We chose the highest rated LG French door fridge with a 10 year compressor warranty. Love it.
Needless to say the 5 year warranty proved to be a wise $500 investment (the cost to cover all the appliances).
By the way there are only two of us in this home and our appliances are gently used and well taken care of.
We just added a repair/replacement service plan through our electric (or gas??) company. It's a bit spendy, a little over $50/month, but if they have to repair or replace one appliance the policy pays for itself. Our appliances are 18 years old....
Cattknap, that is really interesting! At my old house when I remodeled the kitchen in '09 I bought a new gas range, a new French door counter-depth refrigerator, and a new dishwasher. I only bought an extended warranty on the refrigerator since it was really expensive (the other extended warranties cost almost the same but for appliances that cost 1/4 what the refrigerator cost). Haven't had any problems with any of the appliances (I am renting that house out now), but I didn't want to take a chance on the fridge.
Almost 5 years ago we retired and moved across the U.S., bought a home and then began to replace and update the house. We bought all new kitchen appliances at BestBuy....we bought a 5 year warranty that covered all the appliances. Last December (over 4 years into the warranty), our top of the line LG dishwasher began to leak.....The Geek Squad came out, ordered parts and fixed everything. This year our GE glass top electric range started shutting off and flashing error codes. Again everything was fixed (basically the circuitry board was replaced).
About 3 months ago our top of the line Whirlpool counter-depth fridge started staying on all the time and running loudly....compressor issues was the diagnosis. The Geek guys tried twice to fix it...it cost about $2500 almost 5 years ago. On our third service call, our fridge was declared a lemon. Today our new fridge was delivered (equal replacement appreciated value to our broken fridge ..$2900).
We chose the highest rated LG French door fridge with a 10 year compressor warranty. Love it.
Needless to say the 5 year warranty proved to be a wise $500 investment (the cost to cover all the appliances).
By the way there are only two of us in this home and our appliances are gently used and well taken care of.
All I will say is this if your experience were more common, warranty costs would increase significantly. Warranty companies and insurers make healthy profits.
All I will say is this if your experience were more common, warranty costs would increase significantly. Warranty companies and insurers make healthy profits.
The truth is his experience is extremely common, consumeraffairs.com has 1000's & 1000's of complaints, so does Facebook as well as the Better Business Bureau. Fortunately he had enough foresight to get the extended warranties cause those who didn't you should read their cries of woe. Nothing is built to last anymore regardless of the brand, their complaints are evident.
The price of a 5 year warranty for the new fridge is $500.....substantially more than the cost was 5 years ago. We seem to have gotten 3 appliances that barely lasted 4 years without major issues....G.E.Profile, Whirlpool and LG.
When we redid our kitchen appliances several years ago, the only thing we got the extended warranty on was the $1,200 dishwasher for about $149. It is a nice quiet SS unit; we barely know it is running! We passed on the separate refrigerator and freezer, gas cooktop, microwave, and double oven. It was worth it for us also as they came out 3 or 4 times for repairs. The soap door would not open during the cycles and it would not drain totally. They ended up replacing the soap dispenser twice and I think the pump. Since we had the issues, they also ordered a new touch pad control panel for us since the plastic on it was cracked. We were concerned the panel would get wet inside and stop working. But the service guy told me to just keep using the old panel until it finally quits on me. So far, so good. And I have a $160 replacement panel ready if it goes out. Oh, and no major problems with the other appliances yet. The ice maker drips water a bit, making an icicle, and I had to replace a $10 plastic fan under the refrigerator, but I can repair that kind of stuff.
Truthfully I have bought appliances twice in last 14 years for two homes and none went out in five years. I still talk to the people who bought our last home and appliances from 1999 still working fine with one 125 dollar repair to defrost circuit on Frig.
All I will say is this if your experience were more common, warranty costs would increase significantly. Warranty companies and insurers make healthy profits.
This.
Quote:
Originally Posted by SassySpice
The truth is his experience is extremely common, consumeraffairs.com has 1000's & 1000's of complaints, so does Facebook as well as the Better Business Bureau. Fortunately he had enough foresight to get the extended warranties cause those who didn't you should read their cries of woe. Nothing is built to last anymore regardless of the brand, their complaints are evident.
I've moved around a lot and have bought LOADS of appliances for our residences and rentals. This has not been the case with us. The extended warranty would have paid off exactly zero times.
I've moved around a lot and have bought LOADS of appliances for our residences and rentals. This has not been the case with us. The extended warranty would have paid off exactly zero times.
You are missing the point. There are many many people who have had endless problems with their appliances. As suggested do some research......customer complaint boards are endless. When a consumer is spending many thousands on appliances for their home, it makes sense to consider purchasing extended warranties...at least on the more expensive items.
We bought appliances with lots of extras and I think there is more potential for problems with all the bells and whistles than there is for rental grade appliances. Had you bought our appliances without an extended warranty, you would probably be one of those unhappy people on those customer complaint web sites.
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