Extended warranties are a waste of money.....

[Andrew1972]

Originally Posted by PWMDMD
In 20 years of owning a home and having auto insurance I've never filed a claim. You don't until you need to. That's how insurance works. There's no right or wrong....just what level of risk you're willing to accept.


I can cover a $15000 car repair or really anything like that but that is due to personal finance habits. Past that point which auto and home insurance covers for myself and many people I depend on the $1800 premium/year for auto and homeowners, umbrella to cover.

 

[PWMDMD]

Originally Posted by madRiver
Originally Posted by PWMDMD
In 20 years of owning a home and having auto insurance I've never filed a claim. You don't until you need to. That's how insurance works. There's no right or wrong....just what level of risk you're willing to accept.


I can cover a $15000 car repair or really anything like that but that is due to personal finance habits. Past that point which auto and home insurance covers for myself and many people I depend on the $1800 premium/year for auto and homeowners, umbrella to cover.



Over the course of 8 years and 120K miles it's not unheard of to have to spend at least $1100 for auto repair. I too could write a check right now for $50K if I had to....I DON'T WANT TO! I'd rather write a one-time check for $1100 and never have to write the $2K or $5K or $8K or $10K check. If I never use it.....who cares! It's $1100 over 8 years or $137.50 per year. Like I said there's no write or wrong....just your preference for risk.