I purchased a Sony KDE50XBR950 Plasma Television from The Good Guy's in Ventura, California in 2004. This was the top of the line Plasma TV at the time and the cost was $9999.00.
I purchased the ESP Extended Warranty for this expensine television. I have had great performance from the Television until February. I contacted GE for repair service. After months of dealing with a service technician that GE sent, it was finally determined that the cost to repair my television would be $9000.00. GE said that they would process a replacement for the television.
After receiving a phone message that the claim had been processed on 8/24, they said that they would contact me within 5 days. After not being contacted on 8/31 I called them again.
About a year ago I moved to Arizona from California and had informed them of this change when I had originally contacted them to initiate the service call.
I was told when I called on 8/31 that the replacement team had tried to contact me at my old phone number in California. They finally told me that my claim had been processed and that they would replace the top of the line Sony with a bottom line CG plasma from Tiger Direct or they would send me a check for $999.00. When I complained they said that my television had depreciated since my purchase. I told them that I understood that but it had not depreciated 90% in 4 years.
I asked if they are an insurance company? They said yes. I explained that if I had to get repairs on my car, I would get 3 estimates and that my insurance would pay the middle price not the lowest price. They said that the replacement that they had found met or exceeded the specifications of my original television. This would be my only option.
Coincidentally, on 8/31 I received a notice from GE that my service contract was going to expire on 10/1. The cost to renew my contract for 1 year would cost $425.00 for 1 year.
I contacted GE and explained that I had received this offer, they said that I should throw it away. I explained that this was evidence of their dishonesty. I explained to them my television not failed and that I had extended the warranty until 10/1 and if my television had failed in February and gone through the same experience that after renewing my contract for $425.00 they would have offered me $999.00 to replace my televison.
The service technician explained that the service contract renewal was based on the original sale price. Therefore what they are saying is that they sell the contract on terms that are to their benefit and they depreciate the value of the televison for replacement to their benefit. I told them that this practice is DISHONEST and should be against the law. If the television has depreciate then the extention of the warranty should be based on the depreciated value not the original price.
I do not expect to get any additional money for my replacement since several calls have been like talking to my dead television.
I wish to WARN anyone that receives an extention offer, that the premium will be a RIPOFF! Since they will depreciate the the price of your product and not the premium so you will loose money if you have a further claim.
I believe that their track record for honoring their service contracts stands on its own merit. THEY ARE A VERY HIGH RISK investment for peace of mind. If you are offered a warranty from this company, steer clear and find a more reputable company.
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