I don’t buy extended warranties. I’ve been burned before. In general, they don’t give you what you expected. I have bought them in the past and in most cases they turned out to be a bit different from what I expected.
I once bought an extended warranty from now defunct Circuit City that was supposed to be an in store exchange for the same or newer item if there was a failure. Sounded good. Except when I needed to exercise the warranty, I was told that I needed to send in the item and that I’d get a gift card in return. So I was without my device for over 2 weeks. Of course, Circuit City was poorly managed and went bankrupt.
Lately though, I’ve been thinking that maybe there are some places where this is a good idea. In particular on iDevices. In the past two weeks I’ve been in the local apple store twice for my iPhone. The first time, the power button was failing and the device was covered under warranty. Yesterday, I had a cracked screen and a grey display. Apple was able to fix it for $149.
I owned an iPhone 4 for two years and never had a problem. Not one problem. I dropped the thing many times. It survived my son’s hands from age 2-4. The thing was damn near indestructible. So when I bought my iPhone 5, I expected the same.
I didn’t count on the increased destructive ability of my son’s hands. Yesterday, he hit me with a toy in a fit of rage on the thigh. My phone was in my pocket at the time, and the screen was facing outward. I didn’t even know that the phone had been impacted until I tried to make a call. So, in retrospect it sounds like $49 to cover the phone for 2 years would have been a smart investment.