Quote:
Originally Posted by EdFNJ
Well, you really didn't pay $0.00 because you had to pay for the service contract. [emoji3].
Best way to figure your true cost is how many years have you paid for the contract and what did you get out of it. Sometimes it pays to self-insure, sometimes not. Service contract companies are like casinos, they never lose. But like casinos there are always some "big winners.". [emoji3]
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The company selling you insurance knows the odds of whatever it is failing. They of course need to add to that known cost their profit. In many cases the insurance company has a what they will allow for each job and it is usually below standard retail rate.
Like you, I do not usually buy insurance. With our AC they sent a typical sterotyped used car salesman-fast talker to try to sell us insurance for repairs on a NEW UNIT. They never seem to mention the manufacturers warranty that is included with most products.