Is Buying Extended Jewelry Service Worth the Price?

Question

My boyfriend is considering purchasing a diamond engagement ring he let me pick out. I was also helping him find a good price. Is it worth addding the extended service plan? It costs about $200 and with it the store will fix any problems related to the setting, sizing, or everyday damage. The ring is expensive enough, is it worth adding this price? How much damage (I am a teacher) can a ring really go through?

Answer 1

Well, most of the extended service plans are designed to make money for the store. Do not buy it. What you do need to do is to insure it and that will cost you about 1% of the cost of the ring per year. Buit then insurance company will take care of any problems that can happen to the ring. Check with your home owner's insurance company, if they ask too much, try http://www.jewelersmutual.com/ I got a great deal from them.
See, by spending $200, on extended plan you will not eliminate the need for insurance, but insurance will take care of everything. If stone gets loose and you lose it, they will replace it. Just make sure you get an appraisal from the store.
Also, if the ring is more than 15,000 then the insurance will cost more than 1% of the cost, about 1.25%.

Answer 2

I just bought a Vizio 42 inch LCD in Feb of 2009 and by like April or May of the same year the volume control messed up. I had to turn the tv up to like 56 to hear it at a regular level. Another problem i encountered a few months later was that the tv would black out sometimes when I turned on my PS3, there was sound but only a black picture. Then about a month after that the buttons on the side of the tv stopped working sometimes and when I turned off the tv the Vizio light at the bottom would stay on.(not a major problem, but still a problem none the less) FORTUNATELY, my husband insisted on us getting the extended warranty (thru Walmart) which actually started after the manufacturers warranty expired. So I called and they sent out a tv repair company and the company ordered the parts. I just got a call today (like a month later) that my Vizio would not be repaired because the parts were on back order with the service company so Walmart is going to ship me a brand new RCA or Sanyo tv (similar value) free! So to answer your question YES get the extended warranty it can definitely come in handy especially if you are spending over $100.00 on an item. You may never use the warranty, but if you don't get it you may find yourself paying for a brand new tv that will cost more than the price of that extended warranty! (PS I would not recommend that you get a Vizio, when the repair man came to fix mine I asked if they get allot of calls for Vizio, he said they are one of the worst you can get cuz the parts are all made by separate companies and then just put together, that's why they are so cheap! They also rate like a 76% out of 100% in reviews,which i didn't know till after I bought mine) I GUESS THE OLD SAYING IS TRUE: "YOU GET WHAT YOU PAY FOR!!!" GOOD LUCK!

Answer 3

if the ring costs a lot then $200 shouldnt be that much for u to pay trust me in the long run ur gonna need that service :) cuz it can get dirty and it will not sparkel as much later on so yeah i think you should get it