Extended warranties, purchased to cover consumer goods (including electronics, appliances and other devices used in the home or elsewhere) after the manufacturer’s warranty expires, covers most or all of the cost to repair or replace an item for up to some set term, usually two to five years.

Although generally against extended warranties, Consumer Reports says a possible exception includes microdisplay rear-projection, flat-panel, and LCD models televisions. Preliminary Consumer Report findings show a fairly high rate of repair in the first year for microdisplay rear-projection TVs. LCD and flat-panel TVs revealed no spike in repairs the first year, but the magazine says it’s too early to tell what will happen in later years. A PC World survey also reported that among the 37 percent who did not purchase warranties, only 23 percent of them said they wished they had a warranty when their product failed after the manufacturer’s warranty expired.

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