Is Extra Warranty Worth It?

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This afternoon our water heater tank exploded. There was approximately 2 inches of water on the floor in the south section of my basement and a clear river flowing from the north part of my basement where the water heater tank was. Fortunately, a lot of my important documents and files and electronic items were deliberately placed off of the floor, for cases like this. I had built a step-floor where my permanent files are, that were the size of a 2″x4″ in height .. so I was okay.

It was messy … it took a while to clean up … but, no real damage .. except for the water heater that is. A few things got wet – I’ll survive.

Today is Thanksgiving Day and we were a little worried about finding a dealer to repair our water heater – but we remembered that there was this company that offers to come at any time, because water heater damage can happen at any time. In fact, they might come at 11pm on New Year’s Eve if you phoned them … within one hour!

Our old water heater was installed in our condo before we moved in here (Nov/1997). The unit had a sticker that was dated June 1996 as it’s manufacture date and it came with a 5-year warranty. So, this did last four years pass it’s expected life …

Or rather .. it lasted four years pass it’s original factory warranty length .. not it’s extended life!

So, they looked at it .. and we all agreed that we needed a new water heater… Price = $591.00 plus the two taxes = $673.74 CDN …

* Deal #1 – 6 year factory warranty on parts and replacement but up to only $300 towards the labor costs on replacement and repairs

* Deal #2 – add $40.00 and the 6 year is extended to 8 years on parts and replacement but, up to only $100 towards the labor

* Deal #3 – add $100.00 and the 6 year is extended to 10 years on parts and replacement but, again, the labor is only covered up to $100.00

I have a policy never to buy extended warranty on anything … (although, I did by a full warranty on my Konka T.V.) .. After deliberation with my wife .. we both decided just to leave it with the normal 6-year parts and replacements and $300 labor offset .. and hope that it conks out before that time is over and we get a new water heater!

Of course, with our luck .. it will probably last about 9 years and 11 months and 25 days …

What would you have done?

Take care.


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