I would guess that one the most reliable appliances in our kitchen is the microwave. After all, I have never had trouble with one, plus you never hear of one just going out. That is until I decided to pop some popcorn the other day. I pressed the popcorn sensor button and this strange sound came from the unit and the corn never popped. This is not a cheap microwave-it's one of those "professional convective oven combinations". I was shocked-what the microwave has gone out? It's less than a year old-how can that be? Fortunately, it is still under warranty and the manufacturer sent a tech out the next week-the magnetron had to be replaced. I am sure that would not have been cheap if I had to pay for it. In a previous home that I purchased-I did opt on the extended warranty. It was $400.00 and was never used...because I sold the home. However, the extended warranty can be a good selling point-if that's your goal.
Here are a few points to keep in mind when deciding if you should purchase an extended warranty-
1. How long will I own the home? An extended warranty probably will not be the sole reason someone will buy your home. I wouldn't invest in it if you’re planning to move soon.
2. Warranty details-read the fine print! Some extended warranty's have large deductibles that make the plans more expensive than the repair itself.
3. Does the home have an extended warranty-if it does-chances are it includes coverage on the appliances
Extended warranties can offer peace of mind. To some people that alone is worth the cost. To others, it seems like a large unnecessary expense-and that may be true. The decision-making process is different for everyone. My recommendation is do whatever feels comfortable. For example, if you purchased a large, commercial refrigerator for 12,000.00 A 4 year warranty shouldn't cost more than four or five hundred dollars. Just a small part of the original cost. Again, there is not one answer for everyone-you have to do what seems best for you.
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