Quote:
Originally Posted by cemaykan
No I still don't agree 
You have a auto insurance right, they work on averages to.
There is no guarantee, you might end up paying 10 years of auto insurance with no incidents, but that doesn't mean you don't need it...
Saying extended warranty is useless(especially with dealer service gouging) is similar to saying auto insurance is not needed because they base their calculation on averages. |
You need auto insurance to protect yourself from financial damages or liabilities that may result from accidents. It is mandatory in most states. There are reckless drivers, financially irresponsible drivers, dweebs, numbnuts, and sometimes just good people caught in a bad situation.
Comparing auto accident insurance to product failure risk is not relevant.
Your best protection against dealer gouging is knowing your car and chosing who you do business with. Unlike risk from an auto accident, that is totally in your control.
Many car owners elect to not want to control that risk by passing it to a third party via an extended auto warranty.
That is okay, but that decision also comes with a cost (the policy) and risks (you will likely collect less than you paid).
Of course, extended warranty coverage is not useless...how else is the insurer going to make money?