While the PS3 hasn't been plagued by RROD levels of system failures, it is still vulnerable to its own share of problems, most notably the "yellow light of death." Should your system experience an irrecoverable crash after Sony's official one-year warranty, there isn't much you can do except send the system to Sony for repair -- a process that carries a hefty price tag of $150, plus shipping costs.

Sony has announced an alternative solution: the PlayStation Protection Plan, which allows new PS3 and PSP owners currently covered by the standard warranty to purchase additional coverage. According to SCEA's VP of operations, Glenn Nash, the PlayStation Protection Plan was created for "consumers looking for added peace of mind ... interested in an extended service plan that's backed directly by SCEA and leverages our technical expertise." However, while Nash touts Sony's reputation for "the highest quality in engineering and design," Sony is charging a sizable sum for the extended warranty to protect all that high-quality engineering -- especially compared to Microsoft's no-cost three-year warranty for RROD-related damages.

A one-year extension for the PS3 will cost $44.99, while a two-year plan will cost $59.99. The PSP plan is $29.99 for one year, and $39.99 for two years. An "accidental damage" option is also being offered for $10 more. Ironically, Nash adds that "it's because of the reliability of the PS3 and PSP systems that we can offer the PlayStation Protection Plan." Additional details are available on Sony's official website.

This article was originally published on Joystiq.

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