Extended Warranties

[Doc63]

Hi all,

I was wondering what peoples thoughts are on purchasing extended warranties on cameras & lenses.

When my daughter got her Canon 700D & 18-135 lens, I bought an extended 4 year warranty for $109. I figured that, as she is a "casual worker/student/stay in bed as long as possible" type person, she wouldn't be able to afford any repairs if anything went wrong after the standard warranty ran out. The financial burden would then obviously flow through to The Bank of Dad.

I'll be getting a 70D for myself in a week or so, and I was wondering if I should bother or not.

Thanks

Neil

[ricktas]

A warranty protects the purchaser from manufacturing defects. What the salespeople know is that most people confuse warranty with insurance, so people get suckered into buy an extended warranty, and paying for it, when it in most cases is useless. Most manufacturing defects would be picked up within the first year of owning the item.

However insurance covers you for theft, dropping etc.

Save your warranty money and get some insurance over your gear.

[enseth]

Well said Ricktas. Extended warranties are nothing but a clever little scam invented by retailers to squeeze a few more dollars out of the already protected consumer.

[Doc63]

A warranty protects the purchaser from manufacturing defects. What the salespeople know is that most people confuse warranty with insurance, so people get suckered into buy an extended warranty, and paying for it, when it in most cases is useless. Most manufacturing defects would be picked up within the first year of owning the item.

However insurance covers you for theft, dropping etc.

Save your warranty money and get some insurance over your gear.

That's a very good point Rick. Though I did have a washing machine once that started going bung about a week after the standard warranty ran out!

But I think your right, most quality equipment will show defects within the first year or two. I think the standard warranty for Canon is 2 years.

[ricktas]

That's a very good point Rick. Though I did have a washing machine once that started going bung about a week after the standard warranty ran out!

But I think your right, most quality equipment will show defects within the first year or two. I think the standard warranty for Canon is 2 years.

And your washing machine could have started to go bung a week after your 2/3/4/5 year extended warranty too.. and you paid all that money out for an extended warranty and it would not be worth a thing. Once the warranty runs out, its over. But then that is the same for insurance as well, don't renew/pay the premium and you are not covered. Both warranty and insurance are only good whilst they are in effect.

Having said all this, there is also legislation that states an item sold must be usable for the manner for which it was sold/description of what it can do. This legislation over-rides any warranty conditions etc. Manufacturers/retailers cannot remove a legislative condition with a clause in a warranty. So your washing machine that was a week outside warranty could have well been covered under legislation and if you know the right legislation and words to say to the retailer/manufacturer, there is a good chance they would have fixed it/replaced it, for no cost to you.

http://www.consumerlaw.gov.au/content/Content.aspx?doc=acl_resources/resources_consumer.htm

[Mark L]

FWIW, have to agree with Rick and enseth.
If there's anything wrong with the camera it will show up fairly quickly, as long as you use it. I'd suggest there's not many cameras that have something wrong. The manufacturing process is pretty good these days.
It's a numbers game for the retailers, that they just can't lose.
Spend the money on a better lens.

[bricat]

Well I will buck the trend of replies to this thread so far..... I have had extended warranties on many products from dishwasher to fridges etc. I don't always take out this extra warranty on every purchase. I can honestly say I have had much much more return on my investment. One crappy dishwasher (name brand) had nearly everything replaced except the cabinet over a period of 5 years. TV was repaired under extended warranty etc etc. As for your daughters' camera I think that was a wise choice as she may not use it fully now but later down the track and if a fault occurs your covered. JMHO cheers Brian

[chappo1]

I usually say "no" to the extended warranty as well but sometimes am over ridden by higher authority. I have to say that our daughter had 4 new tyres put on her car a couple of years back and took the extended replacement package.
She picked up a puncture and ruined a tyre driving it before she realised the problem. The tyre was replaced without charge....john

[bricat]

Oh yes tyre warranty. Paid for that too and had a repair within the first couple of months. When your tyres are $400.00 each (4x4) it helps particulary when a tyre is shredded. If I get one more puncture I break even. cheers Brian

[Mark L]

But tyres are more prone to this than cameras.

[MarkChap]

I was going to jump in here, but it seems the armchair experts all know the workings of the relevant legislation, and I bet London to a brick are prepared to fight to the death even thought they are wrong in their interpretation.

Rick, the insurance you refer to covers physical damage, loss, theft etc, but does not cover component faults or failures (in most instances)
Some extended warranties (and if you will, they are really more an insurance against defect and failure) actually cover the item for things that could be considered wear and tear.
You have to be VERY careful when purchasing extended warranty though, they are not all the same, some my extend your warranty for "X" number of years, or the FIRST claim and then that is it. some have no claim limits, so do actually give you cover for the extra years

[Sifor]

Once the warranty runs out, its over.

Not necessarily, although I see where you're heading in your last paragraph. There are consumer guarantees covering products including that they must be of an acceptable quality that lasts. If your TV breaks after 18 months (thus outside statutory and a standard 12 month manufacture warranty) then you will still be able to claim the fault as a reasonable consumer would expect a TV of acceptable quality would last more than 18 months.

I've successfully argued that our fridge which broke after 3 years falls within the ambit of this argument.