Extended Warranties

[jjk454ss]

Has anyone purchased an extended warranty or there camera? I'm sure some of you have them. I'm looking for a good deal on one from a reputable seller. I hear good and bad about all of them. I've seen the ones from Amazon(Warrantech), Squaretrade, and I did get the camera from Best Buy so the Geek Squad is an (expensive) option.

Any thoughts on any of them. I'm looking for accidental damage overage for a NEX5 and maybe the extra 55-210 lens.

 

[MCAsan]

They are really not extended warranties as they are not from the product makers; they are insurance policies. I would not purchase them. If you purchase with an Amex they provide insurance to picks up where the maker's warranty ends. Check with Amex for details.

The insurance policy we have is on loss from accident, their....etc. A great policy to have when you carry a few thousand dollars of equipment around domestically and/or internationally. The policy is via our membership in North American Nature Photographers Association (NANPA). It paid 100% for a lens repair when my wife dropped her 100-440 out of the safari truck.

 

[jjk454ss]

They are really not extended warranties as they are not from the product makers; they are insurance policies. I would not purchase them. If you purchase with an Amex they provide insurance to picks up where the maker's warranty ends. Check with Amex for details.

Why do you say not to purchase one? Any reasoning for this? I don't have Amex, so that doesn't apply. It was purchased on a MasterCard.

 

[MCAsan]

Why do you say not to purchase one? Any reasoning for this?

Totally a case of reasoning: poor business case (value of cost against benefit). Most extended warranties are not good values for the purchaser....they are for the profit of the seller.

Check the benefits of your credit card. Some do extend basic warranties.

 

[Cheese&Apple]

As MCAsan said, consider the cost vs. the benefit.

For example: If an extended warranty costs 30% of the original purchase price and is good for 3 years, it's costing you 10% of the original purchase price per year.

I have insurance (added to my home insurance) and it costs about 2% of the original purchase price per year.

This is a generalized example with rounded numbers. Compare the cost to you vs. the potential benefit to you and make sure you read all of the fine print in the contract.

~ Peter

 

[themumu]

...
I don't have Amex, so that doesn't apply. It was purchased on a MasterCard.

Most credit cards include some sort of extended warranty on purchases (typically the shorter of double the original warranty or one additional year). Check your card's policies - call the bank directly if you're not sure. I have actually made claims on these before, more than once, and they are quite prompt and efficient - just make sure to keep your receipts (or copies of them) and relevant bank statements showing the purchase.

 

[jjk454ss]

I understand the cost/benefit ratio. To me, if one of the companies that offer a plan in the $30-$40/yr range(that covers accidents), is a reliable place then it's worth it to me to be able to use my camera when/where/however I want. I was just hoping maybe someone here has done my research for me. I don't want to buy the first plan I see, or the lowest price I find, only to find out in the fine print this and that's not covered, there's a 6 month turn around on repairs, I have to pay a ridiculous deductible, etc.

 

[nburwell]

I have my camera lenses and body insured through my renters insurnace. It's really up to you, but I have never purchased an extended warranty on a camera body. But then again, I usually buy refurbished or used.

 

[Laird Knox]

I did purchase a warranty once. I picked up a refurbished D800 that only had a 90 day warranty from Nikon. The cost of the D800 + 3rd party 3 year warranty was less than the cost of a new camera. It also had the benefit of including accident protection.

 

[jjk454ss]

I have my camera lenses and body insured through my renters insurnace. It's really up to you, but I have never purchased an extended warranty on a camera body. But then again, I usually buy refurbished or used.

I'm going to check with my homeowners insurance and see what thy cover if I'm out and about and drop my camera or something. Thanks

I did purchase a warranty once. I picked up a refurbished D800 that only had a 90 day warranty from Nikon. The cost of the D800 + 3rd party 3 year warranty was less than the cost of a new camera. It also had the benefit of including accident protection.

Where was it from and did you ever have to use it?

 

[ocabj]

Extended warranties and equipment insurance are two different things.

Obviously, getting insurance will be more inclusive than an extended warranty since the insurance will cover repairs for damage that a warranty doesn't cover (e.g. malfunctions that are not due to manufacturer defects).

The big controversy with using your homeowner's or renter's insurance for camera gear is if the insurance company is going to deny your claims for camera repair due to business use, since use of a camera for business purposes usually negates a policy under homeowner's policies. This is why the 'serious' photographers I know get separate photography insurance (liability *and* equipment).

Note: If you shop around for equipment insurance, pay attention to water damage policies / fine print. Most equipment insurance won't cover water damage without extra premiums (if at all).

 

[Cheese&Apple]

The big controversy with using your homeowner's or renter's insurance for camera gear is if the insurance company is going to deny your claims for camera repair due to business use, since use of a camera for business purposes usually negates a policy under homeowner's policies. This is why the 'serious' photographers I know get separate photography insurance (liability *and* equipment).

This is a good point for anyone looking at purchasing insurance.

I've heard from some (no experience myself) that, when a claim is made, some insurance companies will check the internet and if they find you've posted images on a site with a buy/purchase option, even if you haven't sold anything, they will consider it "business use". If you're not covered for business use, your claim could be denied.

 

[jjk454ss]

Thanks for the info, it's strictly for personal use, but good to know.

 

[compuwar]

The big controversy with using your homeowner's or renter's insurance for camera gear is if the insurance company is going to deny your claims for camera repair due to business use, since use of a camera for business purposes usually negates a policy under homeowner's policies. This is why the 'serious' photographers I know get separate photography insurance (liability *and* equipment).

The bigger controversy is that a claim could end up with your homeowner's insurance cancelled, and if that's a pre-condition for your mortgage, then you're hosed.

An "inland marine" insurance policy for your gear is cheap, talk to an insurance agent and get a separate policy.

Paul

 

[jjk454ss]

The bigger controversy is that a claim could end up with your homeowner's insurance cancelled, and if that's a pre-condition for your mortgage, then you're hosed.

An "inland marine" insurance policy for your gear is cheap, talk to an insurance agent and get a separate policy.

Paul

Good idea, thanks

 

[Flash SWT]

Since we're talking insurance: Make sure you know if the policy is "replacement value" or just current market value.

As far as extended warranties are concerned, the only ones I've ever purchased are AppleCare, never for my camera gear.