Do I Need an Extended Warranty?
You've put good money out on the camera you've finally decided on. The sales rep now wants you to purchase their extended warranty plan. Before you agree to it, here are some points to consider when deciding if it really is worth the extra money.
Most new cameras come with a manufacturer's warranty, but these are usually a "limited warranty". They're pretty basic, with coverage typically limited to one year and standard terms such as manufacturer's defects, and no coverage if there is evidence of abuse or tampering with the product, loss or neglect. Read the warranty that comes with your camera to see the complete coverage supplied and what is not covered under the original agreement. It is also a good idea to find out what your responsibilities are concerning your original warranty coverage.
What the Extended Warranties are offering range from one to three years of coverage that can either start on the date of purchase and will run concurrently with the manufacturer's warranty (which means there is an overlapping of coverage) or starts after the manufacturer's original warranty expires. It can be supplied by the retailer, a third party provider or the manufacturer itself. The cost of this extended warranty will depend on the price of the camera you purchased, how long the coverage will last as well as where you purchase your camera. Each retailer will offer a different extended warranty plan which will affect the cost depending on who is actually providing this service and what is being offered.
One of the questions you should ask yourself is how long do you intend to keep the particular camera you've purchased. If it's just an inexpensive point and shoot, and you've purchased it for a specific reason and don't intend to keep it long, you may not want to buy the extended warranty. Check the Terms & Conditions though, because some offer a transfer option. This can be a nice selling feature if your plan is to sell the camera within a short period of time. If it's a more expensive point and shoot or DSLR camera, you may wish to purchase the extended warranty to protect your investment.
Please continue on to page 2 to find out what options to look for when considering an Extended Warranty Plan.