And we all know things we buy break a lot. According to a Consumer Reports list, 37 percent of desktop computers need a repair at some point, as do one out of three refrigerators and three out of 10 washing machines and laptop computers.

But Consumer Reports and many consumer agencies warn consumers that extended warranties often aren’t worth buying. They are not cheap. They may not cover what you think they cover. The warranty work may be unreliable. And the manufacturer’s warranty may be all you really need.

In this article, we’ll jump off the bandwagon and spell out why some consumers buy extended warranties and never regret it. Why do they do it?

Extended warranties provide peace of mind. We’re all wired differently, and some people just worry more than others. If that’s you, it’s worth paying something to worry less, right? If your laptop breaks or your microwave conks out, you’re covered. Peace of mind is worth a lot, and isn’t that why people buy insurance in the first place? It makes them feel better to know they have it — just in case.

Extended warranties make sense for people who don’t have a lot of money. Folks who don’t have a lot of extra money lying around say they like extended warranties. Let’s say they just bought a used car, and the purchase drained their savings. If something big goes wrong with the car, they probably don’t have extra money to pay for it. With an extended warranty, they won’t need it.

Extended warranties work well for those who are not gentle consumers. If you’re hard on your purchases or you have children who are, you are more at risk at breaking something expensive sooner or later, so extended warranties might very well make sense for you.

Extended warranties are part of a gift. If you are giving someone a nice gift, maybe you wouldn’t buy an extended warranty for yourself, but you know the recipient would really appreciate it. So you end up giving two gifts: the initial gift and the knowledge that the recipient won’t have to pay to fix it if it ever breaks.

Extended warranties really do make sense for some people. Figure out whether it makes sense for you before a salesperson tries to sell it to you.

Photo Credit: trenttsd