The only thing that I buy extended warranties for are expensive cameras and cheap printers. This is because they are very complicated electro-mechanical devices that have a lot of small things that can go wrong with them that can't be fixed at home.
One time I knocked over an expensive DSLR that fortunately was still under the 4 year drop and spill extended warranty that I purchased. The thing was still a great camera, but it would have been history.
As for printers... we are downsizing to move so I have a whole pile of old printers that I have to take to the recyclers, many of which I got very little service from before something went wrong. I would have got money back on enough of these that I would have been money ahead. The $5 extended warranty I got on this one will just return my money if something goes wrong in the next 2 years. Judging from past experience, I would guess that there is close to a 25% chance that this printer will quit working before my 2 years is up.
“The only thing that I buy extended warranties for are expensive cameras and cheap printers.”
—
I’d go along on the expensive cameras, but not the cheapo peripherals. If it doesn’t work out of the box, it’s usually easy to get a refund. But if we’re talkin’ about a $40 printer that’s turned to kee-rap after a year, it’s less trouble (for me) to junk it and get a new one.
Most the time the warranties and service agreements are just big money for the sellers.
One thing about virtually any extended warranty plan for your cameras or equipment - DON’T ! An extended warranty is a cash cow for the retailer and is loaded with clauses concerning all the various ways gear can be destroyed or damaged that are NOT covered.
I wound up talking to my insurance agent and getting a rider on my home insurance policy that covers almost everything that can go wrong, and the price is much less than an extended warranty.