Electronic Accident Protection Plan

[Eddie101]

Is it worth spending $60.00 on electronic protection plan for your $1,100.00 fish finder? I never bother with so called "protection insurance" in anything that I buy, but I'm new at this game. So, what would you suggest? Thank you.

[Bankc]

Those insurance plans almost never make financial sense.  Most electronics, if they fail, typically fail within the warranty period.  Just make sure you don't do something to void the warranty.  Unless you bought a piece of junk to begin with, if it makes it through the warranty, it'll usually last long enough that by the time it eventually does go bad, you'll be ready for an upgrade anyway. 

 

The only time I'd recommend getting that plan is if you're in a situation where you're going to be putting much higher than typical abuse on the item.  Like my neighbor who mows lawns for a living.  He used to go through commercial grade string trimmers, once a year.  Now he just buys a cheap one, gets the insurance, and has them replace it once a month or so when he wears them out.  When they start to catch wise that he's a professional landscaper and won't honor the return, he just goes to a different store and restarts the process.  He's still buying one a year, But they're a fraction of the price of the commercial grade ones.  

[Jig Man]

I’d be finding something else to spend the $60 on.