Extended Warranty
When I purchased my Olympus E-300 Digital SLR twin lens kit a couple of years ago I had the option of purchasing an extended 5 year warranty for an extra $200. This seemed a bit much to me at the time did and I didn't really want to spend the extra money.
But after some gentle persuasion (and a big wad of cash in my hand) I was able to talk the sales rep into giving me a $200 discount on the deal. So, effectively I got a 5 year warranty on the package for free.
For the past 2 1/2 years it has performed exceptionally well without any issues. That is, until I went to adjust the diopter but the dial would not move.
I arranged for the repairs to be carried out (It was great to see that they are done locally in New Zealand - Christchurch). Two weeks later I had the camera back all working. Unlike a Kodak camera that had a faulty charger a few years back that took 3 months to get replaced (it had to be sent to Australia, just for them to discovered what I had already told them).
They ended up replacing the entire back panel on the camera, which when you include the shipping and labour charges would have been much more than the $200 for the warranty.
So I definitely recommend that before you purchase your next camera or lens put aside an extra 10% to cover your equipment with a 5 year warranty.