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Retailers are known to offer protection plans on many different hardware including game hardware. Gamingps3 hardware as such is not a huge money maker for the retailers while bargains are hard to get.

Sony has come out with its own protection plan for the PS3 and the PSP which competes directly with the retailer-offered protection plan. The plan is optional and is available for new customers or witnin the first year of having a Sony gaming hardware.

Sony’s plan can be added on in the first year itself but will begin after the manufacturer’s warranty expires after the standard one year. Sony’s plan also requires you to mail your system and either recieve a replacement or the repaired system back.

Sony only covers the system, controllers and cables have been left out. Sony’s PSP accidental coverage plan covers against damage but not against liquid damage.

This is in contrast of how the competitors work. For instance Gamestop’s warranty for PS3 works in the first year itself and you can walk in with a broken PS3 for repair and walk out with a replacement while your’s is being worked on. 

Also there is no guarantee you will get your system back so you better save up on that hard drive before you send it in.

The price for Sony’s plan in comparison with Gamestop is as follows,

System   GameStop
     1-year 2-year
       PS3                $49.99      $59.99        $40/year
       PSP                $29.99     $39.99        $20/year
       PSP†                $39.99      $49.99         —
                                                                                         † with accidental damage

Looking at this, the only big question remains, is it worth it? Considering the system is not dropped or physically abused, such a plan is only a waste of money, before you even realize it, there is a PS4 or a PS5 out there and you are shelling out big bucks to buy that one.

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