If you’ve ever bought a refrigerator, a washing machine, a smartphone, or even just a pair of headphones, you’ve almost certainly been asked at checkout if you want to add an extended warranty. Much more often than not, extended warranties are not worth the gamble. Still, as writer Liam McCabe details in his deeply reported article on these optional protection plans, many people, even when they understand that extended warranties are a losing wager, still worry about the alternative and plunk down cash on protection plans that are a worse bet than a spin of the roulette wheel.Take our quiz to see how well you understand the casino-like extended-warranty business.
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