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Author Topic: Extended Warranty for Canon Pro2000 Is It Worth It?  (Read 328 times)

JudyKonopka

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Extended Warranty for Canon Pro2000 Is It Worth It?
« on: May 14, 2017, 01:22:55 PM »

I think I'll be purchasing a Canon Pro2000 this upcoming week. For $650, I can get a year extended warranty. That's quite an expensive warranty! I'm wondering if it's even worth it since it's almost 1/4 of the price of the printer. Would I be better off just putting that $650 aside for servicing rather than buying the warranty. What do you all think?
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Mark D Segal

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Re: Extended Warranty for Canon Pro2000 Is It Worth It?
« Reply #1 on: May 14, 2017, 01:41:18 PM »

The printer is too new on the market for a database to have been built-up allowing one to reliably assess the probability of that warranty being called along with the avoided cost that would be involved.
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Mark D Segal (formerly MarkDS)
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howardm

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Re: Extended Warranty for Canon Pro2000 Is It Worth It?
« Reply #2 on: May 14, 2017, 02:02:29 PM »

On the other side of the coin, if the head fails out of warranty, then you've probably just justified the expense (although Canon seems to be 'not terrible' about some leeway on this).

Garnick

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Re: Extended Warranty for Canon Pro2000 Is It Worth It?
« Reply #3 on: May 14, 2017, 02:49:57 PM »

I think I'll be purchasing a Canon Pro2000 this upcoming week. For $650, I can get a year extended warranty. That's quite an expensive warranty! I'm wondering if it's even worth it since it's almost 1/4 of the price of the printer. Would I be better off just putting that $650 aside for servicing rather than buying the warranty. What do you all think?

Hello Judy,

My printers are the foundation of my business, so the extended warranty is simply an insurance policy that lets me sleep at night without that particular concern.  My experience is with Epson 24'' and 44'' printers.  On the 9900(44") the warranty work paid for the printer within the first year and a half. Of course some would likely say that's what I get for buying Epson products, but that's my choice and I've never regretted it.  After that period the 9900 worked with very few issues until I sold it a few months ago, and the new owner is very happy with it.  I've recently moved my business to my home location and will soon be downsizing to a P7000 24" printer, on which I will be extending the warranty for as long as possible.  So unless you are not using your printer in a business situation, I would definitely advise the extended warranty route.  Just my opinion.

Gary

 
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JudyKonopka

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Re: Extended Warranty for Canon Pro2000 Is It Worth It?
« Reply #4 on: May 14, 2017, 02:59:00 PM »

Hello Judy,

My printers are the foundation of my business, so the extended warranty is simply an insurance policy that lets me sleep at night without that particular concern.  My experience is with Epson 24'' and 44'' printers.  On the 9900(44") the warranty work paid for the printer within the first year and a half. Of course some would likely say that's what I get for buying Epson products, but that's my choice and I've never regretted it.  After that period the 9900 worked with very few issues until I sold it a few months ago, and the new owner is very happy with it.  I've recently moved my business to my home location and will soon be downsizing to a P7000 24" printer, on which I will be extending the warranty for as long as possible.  So unless you are not using your printer in a business situation, I would definitely advise the extended warranty route.  Just my opinion.

Gary

 Thank you Gary. I have always had Epsons. In fact, I just bough a P800 about six months ago. Just had to send it back because of a hardware failure. They immediately (just over 24 hours) sent me another one (it was a reconditioned one, which I'm not too happy about). So I've always loved Epson's but I am rethinking my strategy now. Yes, I know what you mean about sleeping at night.  After sending it back, I may rethink purchasing a warranty.
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Mark D Segal

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Re: Extended Warranty for Canon Pro2000 Is It Worth It?
« Reply #5 on: May 14, 2017, 04:28:07 PM »

Judy,

Epson took back a P800 from me and exchanged it for a refurb. It's been fine. The refurb has been performing better than the original new P800 ever did. I know there is "refurb risk" (i.e. did they do it properly), but I think the bottom line is that if you get a good one, be happy - you're done, for a good while at least, depending on usage, etc.
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Mark D Segal (formerly MarkDS)
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Mark D Segal

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Re: Extended Warranty for Canon Pro2000 Is It Worth It?
« Reply #6 on: May 14, 2017, 04:56:47 PM »

On the other side of the coin, if the head fails out of warranty, then you've probably just justified the expense (although Canon seems to be 'not terrible' about some leeway on this).

Yes, but the key word here is "probably", behind which lies the whole story of risk, insurance and warranties. An extended warranty is an insurance policy. If the people designing it do so based on principles of insurance, we can assume it is not their intention to lose money on this business. So when they price this warranty, somehow they will have made projections of how many such warranties they will sell, how much total income that will bring in to the business, and how much is likely to be expended on claims. To do this, they will always have more information than consumers about what is likely to be needing replacement or repairing over the period of the warranty, with what probabilities of occurrence at what costs to the company, plus admin costs, and therefore how much will be their aggregate layouts. They would be looking at aggregate layout relative to aggregate income and aiming for at worst a balance, and at best a positive return. For individual consumers the equation will always be <Risk = Probability of Occurrence x Value of Consequences>. Consumers don't have the data to evaluate the Risk, so cannot make a rational decision about the financial prudence of buying the warranty.

Peace of mind isn't a consideration insofar as once you've bought the warranty you may be anxious over the whole period about whether it was ever necessary, and if you haven't bought it, whether something will happen to the printer over the same period making you regret that decision. I think the peace of mind business is awash. One thing I do know for sure, however, is that if I spend the $650 on the warranty, there is a 100% probability that I am $650 poorer than I was before, whereas if I don't spend it, there is X% probability that I COULD be $Y100 worse off at some time in the future. What are the values of X and Y? We don't know.

Taking this down to the level of practical reality, let's say head replacement is the most probable risk. As a consumer beyond year 1, if nothing else but the head goes wrong, the value of the warranty is Prob(head replacement) x Cost(head replacement). The price of the head is USD 675. The probability of replacement within that warranty period is let's say 20% (this is hypothetical, I have no idea). In principle, the value of the warranty would then be 0.2 * 675 or $135, for which the customer will have paid $650. If the customer falls into the 0.2 population, the net benefit will be $675 minus what was prepaid for the the warranty, or $25. If the customer falls into the 0.8 population, he loses $650. Is it worth it? Do we have enough information about this model to begin to know?
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Mark D Segal (formerly MarkDS)
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JudyKonopka

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Re: Extended Warranty for Canon Pro2000 Is It Worth It?
« Reply #7 on: May 15, 2017, 02:35:05 PM »

Yes, but the key word here is "probably", behind which lies the whole story of risk, insurance and warranties. An extended warranty is an insurance policy. If the people designing it do so based on principles of insurance, we can assume it is not their intention to lose money on this business. So when they price this warranty, somehow they will have made projections of how many such warranties they will sell, how much total income that will bring in to the business, and how much is likely to be expended on claims. To do this, they will always have more information than consumers about what is likely to be needing replacement or repairing over the period of the warranty, with what probabilities of occurrence at what costs to the company, plus admin costs, and therefore how much will be their aggregate layouts. They would be looking at aggregate layout relative to aggregate income and aiming for at worst a balance, and at best a positive return. For individual consumers the equation will always be <Risk = Probability of Occurrence x Value of Consequences>. Consumers don't have the data to evaluate the Risk, so cannot make a rational decision about the financial prudence of buying the warranty.

Peace of mind isn't a consideration insofar as once you've bought the warranty you may be anxious over the whole period about whether it was ever necessary, and if you haven't bought it, whether something will happen to the printer over the same period making you regret that decision. I think the peace of mind business is awash. One thing I do know for sure, however, is that if I spend the $650 on the warranty, there is a 100% probability that I am $650 poorer than I was before, whereas if I don't spend it, there is X% probability that I COULD be $Y100 worse off at some time in the future. What are the values of X and Y? We don't know.

Taking this down to the level of practical reality, let's say head replacement is the most probable risk. As a consumer beyond year 1, if nothing else but the head goes wrong, the value of the warranty is Prob(head replacement) x Cost(head replacement). The price of the head is USD 675. The probability of replacement within that warranty period is let's say 20% (this is hypothetical, I have no idea). In principle, the value of the warranty would then be 0.2 * 675 or $135, for which the customer will have paid $650. If the customer falls into the 0.2 population, the net benefit will be $675 minus what was prepaid for the the warranty, or $25. If the customer falls into the 0.8 population, he loses $650. Is it worth it? Do we have enough information about this model to begin to know?

Thank you Mark!
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Rob Reiter

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Re: Extended Warranty for Canon Pro2000 Is It Worth It?
« Reply #8 on: May 15, 2017, 03:14:35 PM »

I think I'll be purchasing a Canon Pro2000 this upcoming week. For $650, I can get a year extended warranty. That's quite an expensive warranty! I'm wondering if it's even worth it since it's almost 1/4 of the price of the printer. Would I be better off just putting that $650 aside for servicing rather than buying the warranty. What do you all think?

When I was using Epson printers in my commercial studio (9600 and 9800) I always purchased the extended warranty and I always had a need to use them. When I switched to Canon (iPF 8100, 8300 and now the 8400) I never purchased the extended warranties and have never needed them. The one or two small problems I needed fixed out of warranty were always handled by my dealer at much less than the cost of the warranty.

Of course, YMMV, but that's been my experience. I've had Canon replace heads out of warranty and I've paid for a few. All in all, I'm very satisfied with the build quality and the service of the Canon printers, but I don't have one of the new ones, yet.
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