Consumers Reports and most advisors will say forego the extended warranty and put the money aside to deal with repairs if needed. You say your dealer will refund if not used, but keep in mind that a single call to adjust an insatallation issue or something very minor on a single appliance means you won't get that refund. If you do get the refund, they have had the use and income off your money for 4 years -- and you probably have to remember to make the claim for the refund within a limited window, which most folks probably forget to do. They entice you with the high cost of repairs and the refund -- but they wouldn't be selling them if most people actually needed them and came out ahead on them -- so it's a question of what risk you want to take.

I did not get extended warranties on my kitchen appliances. In 9 years, I had an oven replacemment under warrranty (manufacturing defect --- the coil was twisted and messed up when they took it apart) and just had a $300 repair on my built-in fridge after a big lightening storm. On my laundry pair, I did get the extended warranty due to some major issues with our previous pair. It was worth the peace of mind. We did call to have something on the dryer checked -- minor issue of a screw point sticking out that woulld have been covered by the original warranty, but it was still worth it to me. That was a lot less money than you are talking about -- maybe $100 or so.

Check whether you have a credit card that will give you an extension -- often a second or additional year. That is usually long enough to deal with any lemon issues. Replacement for major repairs and life expectancy should usually fall at least 5-7--100 years out -- beyond your extended warranty. Then consider your cash flow situation and don't bank on getting the refund. If you don't have any calls and remember to claim the refund and actually get it (business is still there, no bankruptcy, etc.), that's a bonus.

Too many electronic parts that can go wrong these days. They often can't fix things like the old days, they just replace boards which can get expensive. I'd go with the warranty for peace of mind.

I used to never buy extended warranties, and I still don't for most things, but for large kitchen appliances, I do. I've had so many failures in the last 5-10 years I've always gotten my money's worth.

My thinking is similar to lily'smom. A brother paid $100 warranty for a $1,000 tv that failed, he received a new tv.

I often hear/read about product failures, but seldom about reliability. Those who do not have problems do not post complaints on the internet.

If you can pay for repairs and replacement, then do not purchase an extended warranty. If paying for repairs and replacement would cause a hardship, then purchase the warranty.

It is about insurance. One buys insurance if replacing the item would cause a hardship.

Here is Steve Sheinkopf's take on it:

http://blog.yaleappliance.com/should-you-buy-a-third-party-appliance-warranty

You should see if you can get a discount on the warranty. I would also consider not getting an extended warranty on the range hood and dishwasher.

I received 50% off on warranty so at $375 to get an extra three years on my wolf range, subzero fridge, and wolf steam oven, it made my decision easy.

Buy the extended warranty directly from the manufacturer rather than a mom and pop. Miele for instance sells it own warranties directly. I don't know the rules in Canada but you may want to read up on what happens to the warranty if the warranty seller goes out of business. Miele for instance offers ten year warranties in Canada about no in the US.

Good luck!

I agree about not getting it for the hood, but would for a dishwasher. I also agree about buying from the manufacturer, not the store.

As for me, you'd better use the home insurance. It will be more reliable. And if your contractor fails, the insurance company will be able to pay damages. Some time ago I was also promised mountains of gold. But in the end I was no better off than before. After that I started using California insurance services https://www.mis-insurance.com/home-insurance/ . Now I understand like no other the proverb " Prevention is better than cure"

I bought extended warranties for some appliances. The warranties were sold by the appliance store but on behalf of a warranty business that was actually responsible for the warranty. If the appliance store goes under it would not matter for my warranties. Is your appliance store backing the warranty or are they just selling the warranty on behalf of a warranty business? I have used some of the warranties so they have been a good investment.

It comes down to an assessment of risk. Consumer Reports (CR) tracks reliability for appliances manufacturers and the CR magazine I have that is a little over a year old shows reapair rates: LG electric ranges at 12%, KitchenAid bottom freezer refrigerators with ice maker at 26% and Bosch Dishwashers at 9% (the best of all dishwasher manufacturers that CR tracks.) The CR magazine I have does not report reliability for range hoods. The Yale Appliance Blog also tracks reliability for the appliances they sell and service so you could find some useful information there. The Yale Appliance Blog has a search feature on the right side as you scroll down but the search box is small so it does not jump right out at you.

I have read that repairs are expensive and complicated for the electronics used in induction ranges so I would get a warranty for that. I also have read that refrigerator repairs are expensive so I would get a warranty on that too. Bosch dishwashers have a reputation for reliability so I would skip a warranty there. I also would skip a warranty for the range hood. However, if you will get your money back in a store credit then maybe purchasing a warranty on the dishwasher and range hood is not a bad idea. I would imagine the trick is that most people forget to use the credit within 3 months of expiration so they lose their money. Good luck with your decision!