Manufacturer Warranties and Protection Plans

[mwarwick]

I will be purchasing a Canon T2i from Best Buy this Friday and had considered getting the black tie warranty on it, but then I read in today's news that Best Buy is at risk of going out of business (I hope this doesn't happen, but this is a bad economy). If I do decide to purchase the warranty, what happens if the company goes under during the time frame of the warranty? Will another company step in and honor Best Buy's protection plan, or are we just out the money for the plan and left with no options for repair or replacement through the warranties we've purchased?

[hydrogenwv]

I'd assume that they'd be under obligation to continue your protection plan. However, I'm not positive this is the case and I'm not sure how it'd be handled.

 The Best Buy protection plans are underwritten by a 3rd party insurer, so you may have to deal directly with them in that circumstance. I'm basing this assumption off of the Circuit City closing. Their (protection plans were underwritten by Assurant, and on the "new" circuitcity.com page, it states that people with protection plans should contact Assurant directly.

However, I'll let a Community Connector respond, as they should have a better idea...

[TNG1701]

Best Buy's protection is backed by a third party, so even if they did go out of business you would still be covered.