My friend always said never do it, not worth it.
Is it the same in Canada?
Read on.
https://www.consumerreports.org/cro/extended-warranties/buying-guide.htm
[h=4]“Our survey results were similar for those who bought major appliances. Eighty-five percent said their checkout didn’t conclude without at least a suggestion that they purchase a service plan. At some stores, shoppers felt “strongly urged” to spring for the extra coverage. The median price paid for a plan was $123 for a major appliance and $37 for a small one. There are many reasons why we recommend against buying service plans”[/h][h=4]“You may have other warranty rights. As a result of state laws, most products automatically come with an unwritten “implied warranty of merchantability,” which means the items must function as a person reasonably would expect, be free of substantial defects, and last a reasonable amount of time (although the duration of the implied warranty usually is no more than four years).
If a product can’t meet these requirements, you may have a right to pursue the retailer and/or manufacturer legally. An exception is allowed for items that were sold using such terms as “as-is,” which unfortunately is the case for much of what’s being sold online, based on the fine print we’ve read on many retail websites. But about a dozen states (Connecticut, Kansas, Maine, Maryland, Massachusetts, Minnesota, Mississippi, New Hampshire, Vermont, Washington, and West Virginia) and Washington, D.C., prohibit such exceptions; so you’re covered no matter what. For more information on your warranty rights, read our 2013 report: ‘The word on warranty protection. You have more rights than you might think.’”[/h][h=4]Save the money you’d otherwise spend on service plans.
Place it in a savings account, where you’ve socked away six months to a year of living expenses, or put it in a designated product repair/replacement fund. Then, when a product breaks, you’ll have the money to repair or replace it. Of course, you first should try your other options, such as contacting the manufacturer or retailer if you think the problem was the result of a defect, or using coverage you may have from your credit card. Another benefit is that the money you’ve set aside will be available if you need it for some other reason, such as paying your living expenses if you lose your job.[/h]
Is it the same in Canada?
Read on.
https://www.consumerreports.org/cro/extended-warranties/buying-guide.htm
[h=4]“Our survey results were similar for those who bought major appliances. Eighty-five percent said their checkout didn’t conclude without at least a suggestion that they purchase a service plan. At some stores, shoppers felt “strongly urged” to spring for the extra coverage. The median price paid for a plan was $123 for a major appliance and $37 for a small one. There are many reasons why we recommend against buying service plans”[/h][h=4]“You may have other warranty rights. As a result of state laws, most products automatically come with an unwritten “implied warranty of merchantability,” which means the items must function as a person reasonably would expect, be free of substantial defects, and last a reasonable amount of time (although the duration of the implied warranty usually is no more than four years).
If a product can’t meet these requirements, you may have a right to pursue the retailer and/or manufacturer legally. An exception is allowed for items that were sold using such terms as “as-is,” which unfortunately is the case for much of what’s being sold online, based on the fine print we’ve read on many retail websites. But about a dozen states (Connecticut, Kansas, Maine, Maryland, Massachusetts, Minnesota, Mississippi, New Hampshire, Vermont, Washington, and West Virginia) and Washington, D.C., prohibit such exceptions; so you’re covered no matter what. For more information on your warranty rights, read our 2013 report: ‘The word on warranty protection. You have more rights than you might think.’”[/h][h=4]Save the money you’d otherwise spend on service plans.
Place it in a savings account, where you’ve socked away six months to a year of living expenses, or put it in a designated product repair/replacement fund. Then, when a product breaks, you’ll have the money to repair or replace it. Of course, you first should try your other options, such as contacting the manufacturer or retailer if you think the problem was the result of a defect, or using coverage you may have from your credit card. Another benefit is that the money you’ve set aside will be available if you need it for some other reason, such as paying your living expenses if you lose your job.[/h]
