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post #1 of 10 (permalink) Old 04-07-2010, 01:46 AM Thread Starter
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Default Our extended warranties are genuine

Our Plasma TV, with only three days left of it's five year warranty, the last four being the extended warranty which cost $200.00 was away at the service agent's for one week, which included the four day Easter break. This I reckon is exceptional service. Here is a copy of the invoice sent to the insurance company.
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post #2 of 10 (permalink) Old 04-07-2010, 06:29 AM
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Glad to see that you had agood result.

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post #3 of 10 (permalink) Old 04-07-2010, 08:16 AM
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I heard plasma's had about a 5 year life expectancy on average.

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Whittier, CA.

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post #4 of 10 (permalink) Old 04-07-2010, 08:58 AM Thread Starter
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Quote:
Originally Posted by jlord View Post
I heard plasma's had about a 5 year life expectancy on average.
According to my friends and colleagues still in the industry, most manufacturers who used to quote a half life* of 30,000 hours then upped it to 60,000 hours, now quote 100,000 hours for both Plasma and LCD. I just did a quick calculation, based on eight hours viewing per day, the half life is something like 34 YEARS! This of course is an average and we all know that a percentage of any product is going to have a premature death!

* the half life is the time it takes for the brightness to drop to half what it was when new, probably still very viewable.

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post #5 of 10 (permalink) Old 04-07-2010, 11:06 PM
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I heard the 5yr life expectancy from the guys that deliver the electronics from the Sony store on the Sony Studios lot. I don't have a plasma so I couldn't say from any personal experience. I do know that the extended warranties on my truck & wives suburban have been good to have.

James
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post #6 of 10 (permalink) Old 04-08-2010, 12:21 AM
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As long as we're stating opinions on extended warranties I'd like to toss mine into the mix.

Companies that offer extended warranties price them so they will make money. Being in business, they must (overall) make a profit to warrant offering the service. This means that, on the average, they pay enough less out in repairs than they collect to pay their overhead and make a profit. Thus *statistically*, if you were the "average" person and bought extended warranties for everything you buy, you'll come out "behind" in the deal.

That is not to say that I'm against buying them; I sometimes do. In some ways like the gambler in Las Vegas, I try only to gamble on warranties where I think I'll break even or come out ahead. For example... I live in Alaska where there's lots of snow. I lived for years on a gravel road with parking for 8 cars in the duplex I owned. Even though I'd go out and try to get all of the rocks out of my driveway in the fall, I knew the road grader would deposit some in there over the winter. Therefore I purchased one on my show blower when I bought it from Sears. I knew I would put much more and harder use on mine than the "average" person nationwide.

When I bought a dual-base router from Sears last November for $79, I did not but the $15 extended warranty on it. First, I knew that with a tool like that, if you use it when you get it, if it doesn't die right away it's likely to last a while. Additional considerations are that if it were to die my life wouldn't be significantly disrupted (I have others) and that if I really wanted to buy it before it went on sale again, the $120 wouldn't break the bank. If this were a warranty on a $5,000 furnace for my house for which, if it died in the winter I'd be forced to replace it then to avoid freezing pipes, I might buy the warranty.

As far as paying $10 for a 2-year extended warranty on a $50 wireless internet router? Not a chance.

Just one man's opinion!

Check out that new high-tech cordless router.. wireless and no recharging required!!
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post #7 of 10 (permalink) Old 04-08-2010, 12:56 AM
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I agree with Jim. I will only buy an extended warranty for certain things. I never get them for tools. My truck & suburban I do. I have had to use it after the regular period has expired for something that was an expensive fix. I drive more than average miles on my chevy truck.

The suburban has low mileage as my wife doesn't drive very far. But it did need a head replaced & they had it for 2 weeks trying to figure what was wrong. The warranty also payed for the rental.

The other day I had bought something that was on sale for 24.99 & they asked if I wanted an extended warranty. I said no & for 24.99 if it dies after a couple of times of use I will throw it away & buy another one.

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post #8 of 10 (permalink) Old 04-08-2010, 03:17 AM Thread Starter
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I agree with both of you, the only two things that I have with extended warranties are the Plasma and LCD TV's. Smaller items, tools, kettles, toasters, vacuum cleaners etc., no way.
As I said in an earlier post, even TV technicians that I know, who repair plasma and LCD sets take out extended warranties because of the cost of parts, as in my case, a new plasma panel was fitted. I recently read the warranty documents and it appears that I could have increased the length of warranty to 7 years, so, bearing in mind that the insurance companies make money, it follows that plasma and LCD are subject to few claims!

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post #9 of 10 (permalink) Old 04-09-2010, 05:54 PM
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Outside of one car warranty in which they always tried to claim everything wasn't covered and ended up being a waste of money we have normally had the product that never fails whenever we buy a warranty. It seems that the bet about the warranty always goes to the insurance company, yet I am happy that I have a product that lasts way beyond the normal warranty time.

We did use the extended warranty on a car for her that was a rental before we got it. Had to use it a couple of times, but nothing coming close to the cost of the insurance. We did get a little money back on the insurance as we canceled it before it hit the years allowed mark.

On the truck it is a good thing we didn't get the warranty. Since Dodge went under what warranty we would have had left would have gone bye bye with dodge. Still don't have enough miles on it after 7 years to come close to the original 3 year warranty mile limit. I think we might have over 40,000 miles on it and that is only because She has decided to drive it during the winter instead of her car as the car some times stalls on cold mornings and she doesn't want to get stranded out on country roads. I forget I think we bought the car 5 years ago hoping to get at least 2 years use.

I did get the insurance on my blackberry, which is good because the young dog ate it. I then got a bad one as a replacement, they sent out a brand new one and before we got the bad one sent back we caught the dog chewing on the one that was going back. Not had a notice they are canceling me yet, but should get it soon as it is supposed to be 2 phones max a year and with the dog eating the phone the 2nd time it should be at the max. But they might not double check the status of the incoming vs what was talked about as probably different depts. Can't tell when she chews on it as it sounds just like when she is chewing on a hoof Why the change from just carrying it around to destruction I have no idea as she always used to grab it and go lay down with it and not do anything do it. So I never worried. Now I make sure the thing is behind things when I lay it down.
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post #10 of 10 (permalink) Old 04-26-2010, 08:26 AM
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Default Deming, algorithms, risk management

Almost all manufactured items are built so the manufacturers know within surprisingly small parameters (hours for TV's) of exactly how long they will last. They do this for almost every part from a computing standpoint backed up with physical tests that then are used to improve the computing based algorithms. Controlling the variables is a function for continuous quality management oriented manufacturing processes with the outcome comprising the product itself. It is NOT a coincidence that your unit lasted within days of the extended warranty...

And so, the extended warranty prices are based upon algorithms of statistically how many of the "things" will fall outside of the known parameters and break before their projected life. For example, you obviously bought a plasma long ago and paid 200 bucks for an extended warranty. Back then, the known reliability due to the relative "newness" of the product resulted in that price. My dad got an extended warrant for four years for 26 bucks at Sams Club about six months ago. The products have been continually improved over time and the price goes down due to economies of scale and on the warrantly due to improved product outcomes (life). You can plug as many variables into the pricing as you want. Most follow the 80 20 rule first identifying the 20% of core variables involved and not worrying about the peripheral ones.

Thus, in the whole, they never lose money...unless something really bad happens like a total breakdown in a key manufacturing process (Toyota). But even those kinds of things are often built into the algorithms for extended warranties. This whole "thing" is part of "risk management" processes of modern manufacturing and the concepts are even bleeding down into human services...

Deming Rules... Toyota is an example of this system breaking down. Theirs likely broke down due to growth levels that exceeded the systems ability to "digest." There could have also been a conscious or unconscious reduction in "margins" associated with the overall production processes due to many reasons... For example, you lower your standards for worker training due to having leaned your system out so much that you don't have time to maintain training standards due to the ratio of workers to production quotas. Toyota also appears to not have paid attention when their risk managers warned them internally (based upon leaked memos/e-mails) violating the equivalent of a "commandment" in this larger process. When it works, it works well, when it doesn't it has a tendency to cascade through the system...
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