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Extended warranty -- TiVo vs Best Buy

Discussion in 'TiVo Mini' started by aristoBrat, Aug 7, 2013.

  1. aaronwt

    aaronwt UHD Addict

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    $20 for four years I thought was a no brainer. $5 a year sounds like a cheap way to cover the product for four years. Plus it can be transferred to a new owner. So if a new Mini model appears in that time period, I will be able to transfer the extended warranty to the new owner when I sell the Minis.

    I see no difference in getting an extended warranty on a $2k item or a $100 item. The extended warranty costs more anyway as the item price increases.
     
  2. lessd

    lessd Active Member

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    It does make some small sense for a Lifetime Mini BUT I have never had the mother board go bad on any of the 70 or so TiVos I (and my friends) have owned over the years, and the Mini has no Hard drive and must have a small PS as it uses only about 5 watts, I would give the chance of failure less than .01% except in a power surge when most of your electronics will blow out.
     
  3. waynomo

    waynomo My One Time TCF Club

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    And this would be covered under your homeowners policy.
     
  4. aristoBrat

    aristoBrat Active Member

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    Throw me in the .01% club -- one of my minis (which has always been connected to the battery side of a UPS) stopped displaying video earlier this week.
     
  5. waynomo

    waynomo My One Time TCF Club

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    I wouldn't recommend insurance on a $2k item either. (For household items of this value the item can be repaired for a few hundred bucks or so also.) However many (reputable) car insurance agents recommend taking collision coverage off your car when it's value gets low. (I think usually between $1500 and $3500. [Not a car insurance expert so someone else can speak to this more precisely if they like.])

    But I think you are saying that there is no difference in insurance on a $10k item or $100 item. (Forgive me if you don't think that.) There is one major difference. Most of us can afford to replace or repair a $100 item. We can assume the risk. Most of us can't afford to replace or repair a $10k item. (Or at least not without significant hardship.) We can't afford to assume the risk so we pay a premium to an insurance company to assume the risk for that. They make a profit off of that premium. Even if the bank didn't require it I would still want insurance on my car or my home. If my home burnt down and I didn't have a mortgage that would still be a pretty big financial disaster. My $100 Mini not working; not so much. :)

    Also, the cost of the insurance in the case of a house or a car are a lot less as a percentage based on what they are covering. My home insurance is less than a 1/2 a percent of the value. For my car it is less than 1% of the value. So to me big difference there.
     
  6. waynomo

    waynomo My One Time TCF Club

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    But that should still be under manufacturer's warranty, yes? Isn't it a full year on the Mini with parts and labor?

    Also keep in mind that many manufacturer warranties are doubled with certain credit cards. So another reason not to pay double for something that doesn't make financial sense.
     
  7. aristoBrat

    aristoBrat Active Member

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    90 day full warranty, one-year hardware warranty.

    After day 90, TiVo charges $49.99 to replace the mini under the one-year hardware warranty.
     
  8. waynomo

    waynomo My One Time TCF Club

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    Ah, didn't read the details. Actually the way it is displayed on the TiVo site is a bit misleading.

    It says this, "TiVo Mini comes with a 1-year limited warranty" here https://www3.tivo.com/store/mini.do. Below it looks like just details on extended warranties. You have to click there to see the details of the regular warranty.

    This still doesn't change my feelings about extended warranties. If anything, the fact that you can replace it for $50 instead of having to shell out $100 makes my argument more compelling. (At least to me.)
     
  9. aaronwt

    aaronwt UHD Addict

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    Everyone can make their own choices. Sometimes i get the extended warranties on products, sometimes I let the credit card double the warranty term, and sometimes I don't get the extended warranties. But on items that I plan on selling down the road, I always get the extended warranty to help with the resale of the item. That is the main reason I always buy the extended warranties on all my TiVos. Since I typically sell them within a few years.

    Now that might be less likely with the TiVo Mini, but who knows when they plan on coming out with a replacement? I just know that if/when they do, I will be selling my older TiVo Minis and getting the newer ones.
     
  10. lessd

    lessd Active Member

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    In the first 0-12 months you do have infant mortality that may be more than .01%, I was referring to year 1 and after.
     
  11. jmpage2

    jmpage2 New Member

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    In general I agree with you (regarding extended warranties) but in the case of a product like TiVo that has a lifetime service on it the warranty is actually more of a no brainer.

    With a TiVo, the lifetime service is NOT transferrable if the device craps out on you UNLESS it is covered under an extended warranty from TiVo or an authorized reseller (Best Buy for example).

    If you take the Mini, yes, it's a cheap piece of electronics, but the lifetime service on it is $149 and could very possibly be more 2-3 years down the road. In the case of a Premiere, the lifetime service is quite a bit more.... so sure you can buy a cheap replacement but you will get hit up for a brand new lifetime service fee.

    It's also worth pointing out that in many cases if you need to use the extended warranty you will end up getting a newer generation replacement product if the product you have can't be easily serviced.

    You also commented about using your homeowners insurance to cover something like a piece of electronics damaged by a power surge. Does your deductible not apply in those situations? Many homeowners have a $500 or $1000 deductible but many are increasingly going to much larger deductibles (mine is .5% of dwelling replacement value) to lower their premiums and simply paying for smaller things out of pocket.
     
  12. lessd

    lessd Active Member

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    Yes I am up to $5000, saving about $700/year, will take me about 7 years without problems to save money if I do have an insurance problem, never made a home owners claim in 30 years, I have had the $5000 for about 6 years now, almost even if I do have a big claim now.
     
  13. jmpage2

    jmpage2 New Member

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    I agree. Lots of homeowners pay a fortune for a small deductible and then use it to nickel and dime their insurance company for small things (I actually had a neighbors kid break a window once and he put it on his homeowners!!).

    I would prefer to pay for the small stuff out of pocket, save on my premium and only use insurance for the big stuff.

    I had a hail storm roll through after we'd been in the house for 7 years and the roof was totaled. Cost of a new roof plus having our solar panels removed and re-installed was $33,000. At that point the higher deductible seemed like a bargain as after all of the various comps, etc, it still worked out being less than $1000.
     
  14. cyberbeach

    cyberbeach Mere member

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    I just bought two mini's. For the $78 dollars on the extended warranties plus $10, you could get a new mini from Amazon. And that's today's price. It could go down.

    First of all, both mini's would have to fail before I would have benefited from this.

    Secondly, there might be a mini 2 at some point in the next 3 years.
     
  15. aristoBrat

    aristoBrat Active Member

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    I guess you don't have Lifetime on your minis.
     
  16. aaronwt

    aaronwt UHD Addict

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    This is one reason I got the four year extended warranty on my two Minis from BestBuy. If a new Mini is released I will replace mine right away. The extended warranty will help with the resale.
     

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