Extended warranty - yay or nay?

[scrub-jay]

We bought a very well-rated (via CR) front load washer and dryer (LG) from Sears. The extended warranty is expensive...is it worth it?

[ides]

How expensive? Are there many complaints against the warranty co? What commonly happens/breaks on your washer?

I went with the extended warranty when i got my machine last fall. Through research I found out what the common problems/breakdowns with my machine might be and deducted since they were expensive that I was better off with the warranty. I went with a local appliance store who also gave me a lower price on the extended warranty.

[Pollyanna]

How long does the extended warranty cover the machines? Your most expensive repair will be a new motherboard (expect to replace at 5-7 years depending on how often you use your machine). That repair is typically around $500-650. Other issues cost much less. So if the warranty won't still be in effect in 5 years or if it won't replace the motherboard I would skip it.

[spotty_dog]

Can't stop thinking about Homer Simpson. "Extended warranty? How can I lose??"

Generally the advice is not to buy the warranty on something you can afford to replace without much injury to your budget. So, you wouldn't pay extra for a warranty on a $30 watch, that's silly. If you have an emergency fund in place, a washing machine is probably on the high end, but might be doable, especially if you consider the manufacturer warranty -- if it's already covered for a year, and you spend that year putting some money every week into a "washer repair fund", will you come out ahead compared to paying up front for the warranty?

We did buy the extended warranty for our TV, and after we did, we found that the only authorized repair people were hours away. So my advice would be to figure out how you get the warranty invoked, who you can get to do the work and whether you're in their service area.

[MrsC]

We didn't get it for ours, also front load washer and dryer by LG. I have them three years now and love them. Twice, I have had a leak from under the washer that is caused by a blocked filter I think. But one cycle with a tub cleaner and it's fixed.

[medpedspouse]

We did not get the extended warranty but have American Home Shield. Good thing because within the year, the front load washer needed almost the cost of the thing itself in repair costs. I know AHS is hit or miss in different places. We have gotten our money out them here but have heard bad stories from friends that live in another city. Just a thought- unless you are renting and the other appliances are covered by the homeowner.

[HouseofWool]

AHS saved my hiney with the new furnace.