OldShooter
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
To whack the dead horse one more time:
When the subject is extended warranty, the seller holds the trump cards.
First, where the buyer has anecdotes, the seller has data. That data gives him an accurate statistical estimate of his risk for this particular car. To that risk estimate he adds a generous sales commission and as much profit has he thinks he can get away with. So, to win, the buyer will have to experience costs that exceed his statistical risk by a fairly large amount. Probably close to double. Dirty Harry's famous line applies: "...you've got to ask yourself one question: 'Do I feel lucky?' Well, do you, punk?"
Second, while the bold print giveth ("Extended Warranty"), the fine print taketh away. "Exclusions" is one key word. DS had someone pitching an extended warranty to him and he sent me the document. Exclusions included brakes, suspension, cooling system, and fuel system. About the only thing that was covered was a rod through the crankcase and IIRC the warranty did not cover the engine R&R cost. Another key is the maintenance requirement. If you miss complying with even the tiniest detail, they don't have to pay. (As @YVRRocketSurgery reported.)
Finally,
When the subject is extended warranty, the seller holds the trump cards.
First, where the buyer has anecdotes, the seller has data. That data gives him an accurate statistical estimate of his risk for this particular car. To that risk estimate he adds a generous sales commission and as much profit has he thinks he can get away with. So, to win, the buyer will have to experience costs that exceed his statistical risk by a fairly large amount. Probably close to double. Dirty Harry's famous line applies: "...you've got to ask yourself one question: 'Do I feel lucky?' Well, do you, punk?"
Second, while the bold print giveth ("Extended Warranty"), the fine print taketh away. "Exclusions" is one key word. DS had someone pitching an extended warranty to him and he sent me the document. Exclusions included brakes, suspension, cooling system, and fuel system. About the only thing that was covered was a rod through the crankcase and IIRC the warranty did not cover the engine R&R cost. Another key is the maintenance requirement. If you miss complying with even the tiniest detail, they don't have to pay. (As @YVRRocketSurgery reported.)
Finally,
This!... I never insure against a loss I can easily sustain. ...