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Re: similar.... but.... Posted by MJM [Email] (#872) [Profile/Gallery] (more from MJM) on Wed, 7 Feb 2001 11:00:01 In Reply to: similar.... but...., xq, Wed, 7 Feb 2001 10:40:13 Members do not see ads below this line. - Help Keep This Site Online - Signup |
I wholeheartedly agree with your points, if not the examples. Does homeowners insurance cover things like the stove dying or the hotwater heater crapping out? I know they cover catastrophes, as does car insurance. Catastrophes are by definition, rare, so coverage is relatively inexpensive. Wear and tear items are more common, so coverage is more expensive, and the profit is made on the (slimmer) margin.
When I bought my SET, I was (correctly as it turned out) concerned about the reliability and repair cost of that model, so I sprung for the ext. warr. As I stated above, the purpose of these things is not to help the consumer, but rather to make money for the issuer. But so far, my unreimbursed cost for the warranty is only $300 ($1200 cost - $900 repairs), and the warranty is only 2/3 through. At this point, I don't think I'd take the option of getting $300 back and cancelling the coverage, even if that option were available. I just don't trust the car, it's reliability record just hasn't been that good.
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