Why extended warranties are a waste of money

Why extended warranties are a waste of money (Washington Post illustration; iStock)

Home Depot’s best-selling front-loading Whirlpool washing machine runs $699; purchase it online, and the retailer urges adding a “Protection Plan” — a three-year extended warranty — for an extra $100. Buy a Samsung TV from BestBuy.com for $329, and at checkout the website recommends you “Protect your TV” with a $59.99 two-year plan from Geek Squad, or a five-year one for $69.99.


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Sam Miller

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