Q: I got an offer for a home appliance warranty in the mail. Do you think that it’s worth the cost? Hector, Elizabeth, NJ A: The strength of a warranty or insurance of any kind ultimately depends on the legitimacy of whomever is offering it. Insurance companies are better equipped to process claims than an appliance company, so if you have a warranty directly with an appliance company, expect long wait times and red tape when something goes wrong with your appliance. In addition, expect to pay an additional service fee if your appliance breaks down in addition to the premium that you’ve been paying. I was an actuary for an insurance company in a former life and the fact […]
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