Paul Clancy wrote:
I'd pass on all of them. Engines and trans well maintained will hardly ever fail unless tuned or bad fuel injested- either of which voids warranty anyway. With most the deductible exceeds small things like door actuators etc. that you can buy cheap on line and install yourself. Most extended have a load of loopholes. Same with Rv plans. Good insurance I'm all for but not extended warranty.
But if bought from a reputable company it is a form of insurance, not apples and oranges at all as one poster opined.
There are many life insurance companies offering******products, does not make all of them bad. If you have bought term life insurance and can read this, that money was wasted, even if bought from a reputable company.
So yes, there are some bad, rip off types of extended warranties, and there are many that offer a good product at a fair price.
I just don't understand how so many spend thousands on other insurance products (life, health, home, auto, even home warranties) and single out extended warranties on vehicles as evil.
In the last 50 years I have spent well over $200,000.00 on auto insurance without a chargable accident, no payout of a cent, why is that not a rip off? What about term life insurance? Same with house insurance, some small claims after years of premiums.