Sony Camcorder - Should I buy the expensive Warranty?

[TrufflesG]

Just bought a Sony AX100.

Should I buy the Geek Squad Extended Warranty?
Consumer Reports says No because for the cost for almost any repair is $280 or LESS anyway so if you have damage after the 1 year manufacturers warranty, you can just pay it if you need it. If you reach 3 years with no trouble you SAVED $300

Thoughts?

The "full coverage" Geek Squad Warranty that covers accidental damage and everything EXCEPT theft and fire is

1 years $150
2 Years $230
3 Years $280

 

[USAFRet]

Extended warranties are rarely a good idea. From GeekSquad, even less so.

If it were profitable for us, they wouldn't do it.

If you pay for it with a credit card, often that brings its own extended warranty.

 

[10tacle]

Just about every consumer adviser expert out there like Clark Howard say do not buy an extended warranty. Only one time have I ever bought one ironically I did need to use it for a 32" HDTV that I carried around for tailgate parties (bought a 3yr from Best Buy's GS for $50 knowing it might get abused). Some rain got in the vents on top due to carelessness and caused a dark spot on the display.

I let it dry off for days then filed a claim with Best Buy. Since it was about two years old and not fixable, they gave me a store credit for the original purchase price, which ironically I was able to buy a new 40" HDTV for the same price I paid for the 32" including the $50 extended warranty. I chose not to buy it again on the new one and am more careful with it now (read: cover it and put it away if rain drops start). So the way I see it, I actually gained from it. But that's the exception, not the rule.

But if you take care of your hardware, yes, they are a big waste of money. Especially at the price they are asking for that pro-level camera of yours at $1,400. But if you think you might be using it in situations where it *may* get damaged like dropped on concrete or in water, then that's up to you to think of it as an insurance policy.