MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
I sort of know my own answer to this, but it's always worth asking around. And Mrs L-man will likely have her own view, of course.
The question is - is it worth having independent appliance insurance on things like fridge, oven, hob, dishwasher, tv etc? The tele-sales people put out all their spiel about "covers you for breakdowns, and engineer repairs, and like-for-like replacement" etc etc ad infinitum. But in reality, these things don't (generally) just give up the ghost and need repair or replacement on anything like a regular basis. Or do they? Have I just been lucky? So, is it, like most insurance, just money down the drain until the unfortunate day you think you need it, and only then do you find out it's not all it was cracked up to be in the first place?
Any experiences to share?
(Actually, that's several questions. Sorry)
No.
Self-insure if you must, by putting away a little in a savings account each month.
how much for a new one, how much to insure the old one, does whatever-sale-of-goods-act-is-called-now cover it anyway?
Beko and assume you'll replace is my philosophy. If you can find parts that's a bonus.
Fridge and freezer, you're better off with a fire extinguisher and house insurance 😀
They are a notorious ripoff. Usually sold hard by the salesman when you buy the appliance, they probably get more commission from the insurance than the product.
Easy way to shut them up "well if you think it's likely to fail I'd better not buy it then" 🙂
Used to work selling white goods, and the above is all true.
Terrible rip-off, over priced and often with get-out clauses.
I did indeed make much more from selling them than the goods themselves.
APF
Nope, self insure.
White good are pretty cheap and generally last 10+ years.
Reminds me of when my old man dragged me to PC world a few years ago to buy a new PC.. (yes I know but he insisted).
Anyhow we chose a PC, Sat down for the hard sell on the antivirus package and extended warranty.
I dismissed buying antivirus straight away, but the old man was swallowing the pitch and going to get mugged for an extended warranty.
Until I asked the sales person if he expected the PC would brake down between 2 and 3 years old.
Errm... The conversion kind of ended there, Hahah!
You can buy insurance that will cover all your white goods under one policy a lot cheaper than the ones you can buy at the point of sale.
But, all goods should last a reasonable time, which for something like a washing machine or fridge freezer should be a number of years. You are protected to a large extent by the Consumer Rights Act 2015 for upto 6 years whereby if you prove the goods were faulty when you bought them you are entitled to a repair or help with replacement.
My mate insures all her elec goods, q intelligent too. I cant believe it, despite my advice she could replace every 5 years for less. I just wait for the john lewis 5 year warranty offers.
Thanks all, that [u]very[/u] much confirms my suspicions. To be clear, its 'after-market' cover we're talking about here, not point of sale. But anyway, whether it's enough to convince SWMBO is a different matter, of course. Especially as her sister seems to have had a bit of a result with several years of washing machine services & repairs for quite small monthly premiums, followed by a replacement when it was eventually declared beyond economic repair. We shall see.
I don't think I've ever had a washing machine break down. Were they overloading it?
If you have to body slam the door to get it to shut that's generally a sign of overloading.
The previous fridge and freezer lasted about 15 years, both were basic models. Washing machine is 15+ years old and still going strong.
Can't see the point of insuring them.
We have insurance on the washer/dryer & fridge freezer, about £8 a month for the washer & just over £5 for the FF.
We've sucessfully claimed 3 times in 5 years for repairs on the washer & got a full purchase price refund of £800 on the FF (LG american style affair) after a door flap broke after the 2 yr warranty was up. Even managed to find a new one the same for £600 (as it's a discontinued model)
it's worked for us but insurance is just that, great if you need it, waste of money if you don't.