Just wondering what the consensus is - I've got three weeks from purchase date to purchase an additional warranty - almost 200 $ CDN for three extra years, in addition to the standard 2 year Nikon warranty on a D7000.
Do most people purchase additional warranty? I've never had a problem with a Nikon camera, and I've probably owned a dozen over the years but the sales person says I've been lucky - ha!
A Canadian Nikonian
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#1. "RE: Additional warranty" | In response to Reply # 0agitater Nikonian since 18th Jan 2007Sat 26-Mar-11 01:57 AM
More info needed I think.
If the warranty adds two additional years of coverage and costs a thousand bucks (for comprehensive coverage), it's a rip-off.
If the warranty adds two additional years of coverage and costs a hundred bucks (for comprehensive coverage) it's a crazy-great bargain.
The best, most realistic value lies somewhere in between I think. Most aftermarket warranties are transferable, so it just adds value to a deal if you decide to sell the D7000 at some point before an additional warranty ends.
Which dealer and which warranty?
#3. "RE: Additional warranty" | In response to Reply # 0ericbowles Nikonian since 25th Nov 2005Sat 26-Mar-11 09:28 AM
I don't ever buy extended warranties with my Nikon gear.
Most problems will show up in the first year - actually the first 90 days or less. True warranty issues are rare in the time period of the warranty.
Most repairs not covered under warranty will be under $350-400. In fact many repairs will be under $200. The odds of an expensive repair get pretty low.
The camera that costs $1200 now will probably be worth $400-500 in four years. So during the warranty you will also have the option of replacing your camera - and might do than anyway. A repair would never be made if it approached the cost of a replacement camera.
Most warranties exclude damage through misuse. Impact shock from dropping cameras or lenses is the most common cause of failure - and it is not covered under most warranties.
Warranty company service varies - some are great while others create warranties to avoid paying for warranty work. I like being able to choose my own vendor. But then, I have several Nikon Authorized service companies available locally and in Canada that is a bit tougher.
My logic for not selecting a warranty is that by saving $200 or so per camera body, I save enough to buy a replacement or pay for repairs. Warranty repairs are infrequent - in fact I have had to repair just 2 out of 5 DSLR's. I don't baby my gear and have taken more than 100,000 images with these camera bodies in all kinds of conditions. One of those repairs was covered by the Nikon warranty and occurred within 90 days of purchase. The other was with my D300 and cost $320 - and it would have been covered by your plan. So out of a savings of about $1000 in avoided warranty costs, I've spent $320 on repairs.
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#4. "RE: Additional warranty" | In response to Reply # 3PAStime Nikonian since 10th Feb 2009Sat 26-Mar-11 10:24 AM
Eric has captured my views bang-on. I've got thousands of dollars saved over the years on a multitude of electronic gadgets by not buying extended warranties. Consumer Reports generally recommends staying away from extended warranties on electronics. I hear anecdotal comments that extended warranties are a high profit margin item - that would tell you something. Sure, not buying it this time might end up in a net loss, but over the long haul I'd estimate you will be ahead by not buying extended warranties.
I do recommend you check in with your home/personal insurance for coverage due to theft and at-fault accidents. My view is that the biggest risk to a new camera is it getting pulled off a table by a child or smashing it into a steel pillar as you walk through a passageway.
#5. "RE: Additional warranty" | In response to Reply # 4agitater Nikonian since 18th Jan 2007Sat 26-Mar-11 12:46 PM | edited Sat 26-Mar-11 03:50 PM by agitater
>generally recommends staying away from extended warranties on
Consumer Reports is a great organization, but it has never included advanced digital SLR cameras or advanced DSLR lenses in that advice to the best of my knowledge. Consumer Reports has always included stereos, A/V receivers, point & shoot cameras, entry-level SLR/DSLR cameras, consumer lenses, VCR decks, CD/DVD/Blu-ray decks, MP3 players, consumer TV sets (CRT and LCD), game consoles, wireless home phones, cell phones, external hard drives, low-end laptops & netbooks, low-end PC/Mac desktop computers and so on - typical consumer electronics. Consumer Reports has always advised, in addition, to calculate the cost:benefit ratio of third-party warranty replacement or extension plans by comparing them against reported average repair costs over the ownership/warranty period. Consumer Reports has also acknowledged, without further comment, that the greater complexity of each new advanced device (presumably including the every-increasing mechanical and electronic complexity of cameras such as the D7000) does not necessarily mean a greater likelihood that problems will occur.
>I do recommend you check in with your home/personal insurance
>for coverage due to theft and at-fault accidents. My view is
>that the biggest risk to a new camera is it getting pulled off
>a table by a child or smashing it into a steel pillar as you
>walk through a passageway.
So I think the longer any of us keeps and uses a camera before replacing it, the greater the likelihood of accidental damage, worn out switches or actuators, failed PC boards/components and so on. One does not necessarily follow the other, I admit. No warranty covers accidental damage in any event. For example, if any of us accidentally drops a D7000 into a stream, Nikon won't repair it for free. The same is true for extended warranty coverages. DUE is not covered by any sort of warranty. That's where personal property insurance kicks in.
That leaves only coverage against component, switch, mount, PC board, LCD, shutter, sensor, mirror and pop-up flash failure - which is a lot of coverage. The problem with deciding on extended warranty coverage for a D7000 - based on the excellent advice provided by Consumer Reports - is that, as Consumer Reports always puts it when referencing a new product, the D7000 is too new for any repair cost data to exist.
The D7000 contains a new sensor, a new TOGO board and a variety of other things which don't exist in any other Nikon DSLR body. On that basis, I'd advise that a third-party comprehensive warranty extension of two years that costs 15% or less of the net retail purchase price is worth it. Anything more is, IMO, not worth it.