A few weeks ago, a tree company dropped a limb on the power line to our house and sent a massive surge through our house. The surge blew out almost all of our appliances and a few small electronics. So we had to buy all new appliances (thankfully, the tree company’s insurance paid for most of the damage).
When you buy electronics these days, regardless of size or cost, the salesperson always asks if you want to purchase an extended warranty. So we listened to sales pitch after sales pitch in our quest to fix our kitchen. Thanks to shorter manufacturers’ warranties, the offerings seem like a smart move. But buyer beware! While a few of the warranties are worthwhile, most of them are a waste of money. Here’s how to tell which ones to buy and which ones to avoid at all costs.
First of all, remember that the sales staff is paid to play on your fear of the worst-case scenario. Such scenarios do happen, but they’re so rare that placing a large bet that they will happen (which is essentially what an extended warranty is) is not a wise use of resources. Heeding Jesus’ warning to not worry can […]

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