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Do you Squaretrade?

Discussion in 'The Watering Hole' started by Isoterica, Jun 27, 2013.

  1. Isoterica

    Isoterica SC Hall of Famer

    Dec 6, 2011
    Have you ever purchased and actually used Squaretrade or another outside party accidental damage warranty for your gear and what was your experience with it? Did it give you peace of mind and even a camera replacement or help you to sell your gear better if you changed your mind or did you find it a waste of money?

    I am on the fence about a three year Squaretrade on my GR. It is covered under my homeowners insurance on a camera gear rider but only for theft or accidental damage, not manufacturers failures. In other words if the lens stops retracting after the Ricoh warranty, that's not an accident it's a defect and not covered under my ins. policy.
     
  2. Luke

    Luke Super Moderator

    Nov 11, 2011
    Milwaukee, WI USA
    Luke
    I've never used them. It's really like an insurance policy. They sell them because the odds are good that they won't have to pay out on it. It's how they make money. So, knowing it's unlikely to fail, how much are you willing to pay for a little peace of mind. How much do they charge for the 3 year deal? What is your risk tolerance?
     
  3. Isoterica

    Isoterica SC Hall of Famer

    Dec 6, 2011
    An 800$ camera won't be replaced without some kind of coverage, I just can't drum that kind of cash up so easily, however at this point the only thing I'd need them for was if the internals were defective because ins. covers dropping it on accident, water, fire, theft etc..
     
  4. Luke

    Luke Super Moderator

    Nov 11, 2011
    Milwaukee, WI USA
    Luke
    I understand your rider on your homeowner's policy covers the loss, but if there's a failure in the camera, it doesn't cost the full price to repair it. If you're going to worry about it failing, it's worth the $60 (or whatever they charge) to have the peace of mind. I still think it's not going to break (unless you let Bill back his vehicle over it)....and if it does, it'll be 2 days after your extended warranty is up.

    Simply put, if you buy it, you'll never need it. If you don't buy it, you're doomed :eek: Sorry if I'm no help.
     
  5. Isoterica

    Isoterica SC Hall of Famer

    Dec 6, 2011
    You are only stating what I am thinking but as a new owner of a relatively expensive camera, for me, I am of course nervous. I was that way with my dslr when I got it though had no added coverage. And you're right, three days after warranty my lcd died, a mfg defect but I had to pay. I think given I have accident covered I will try to trust that Ricoh made a sturdy little beast and not worry about the rest. It's more than 60$ for three years. Thanks Luke.
     
  6. Biro

    Biro SC All-Pro

    Aug 7, 2011
    Jersey Shore
    Steve
    Pentax offers extended warranties for its DSLRs. They cost $20 and extend the warranty from one to three years and include a free camera checkup. Ricoh is now the same company. I'd investigate whether a similar extended warranty is offered on your camera from Ricoh before I'd even consider a third-party warranty.
     
  7. stillshunter

    stillshunter Super Moderator Emeritus

    Nov 5, 2010
    Down Under
    Mark
    As Luke mentioned, just be sure that your home contents insurance doesn't already have you covered. My policy is "new for old" on lost, damaged or stolen. So far though, touch wood, I just fork out the premiums.
     
  8. Isoterica

    Isoterica SC Hall of Famer

    Dec 6, 2011
    Thank you, I will do that!

    It covers loss/theft, fire, water, dropping.. accidental damages but not, say, an lcd that goes bad or a lens that stops retracting etc. And they give me new for old or purchase price if old is no longer available.