extended warranties?

JethroUK · 22 March 2015 at 9:06AM

Anyone insuring household electricals (fridges TV's cookers etc) against failure using general household insurance

I get 3751815 letters per week asking me to extend warrants on different products I have and I'm wondering whether I could cover all items with the one same policy?

Brambleberry · 22 March 2015 at 10:16AM

I run my own insurance for this one - simply take all the money that you would have paid on extended warranties and put it into the emergency savings pot to earn interest with the rest.
In my experience a decent appliance that is cared for properly will outlast the extended warranty. If something is fundamentally wrong with it, such as a manufacturing defect or component fault it will usually happen in the first 12 months when most manufacturers guarantees would still cover it.

Unless you are really careless, it would be highly unusual to need to claim against all the cover plans, so the money you save over several appliances could be used to cover the odd one that goes on the blink.

If you have a single plan covering many appliances, such as through home insurance, would several claims drive its price up in the long run?

Blackbeard_of_Perranporth · 22 March 2015 at 11:09AM

I use the Mattress Theorem. Currently is has lots of silver in it!

janb5 · 22 March 2015 at 11:57AM

Totally agree with Brambleberry. I was paying into a policy with Domestic and General to cover my oven and then experienced all sorts of delays and telephone angst before sorting it out.

Definitely put the money away as an emergency fund!

meames_2 · 22 March 2015 at 1:16PM

I once (when I didn't know better) took out an extended warranty on my washing machine. I quickly realised that had I contnued paying after 3 years I could have effectively bought a replacement.

BTW, I bought the washing machine in 1998, it is currently merrily washing a load of towels. In all that time it has cost £56 in a call out and replacement part.

theloft · 23 June 2015 at 10:07AM

I purchased a AEG Condenser Tumble Dryer from HISpek with 5 year free extended warranty. With 6 months to go on the warranty, the machine died suddenly this week! They are coming on Monday to fix it. Am I pleased with the warranty, you bet! It is probably the PCB unit which would cost a small fortune to replace. I had to register the appliance with AEG to qualify for the 5 years, but absolutely no hassle whatsoever.

teddysmum · 23 June 2015 at 2:03PM

Another point is that the three/five year extended warranty is actually just for two/four years, as the manufacturers offer at least a year's warranty, included in the price of the item.

Lizling · 23 June 2015 at 11:46PM

I've got an extended warranty on my washer/drier. Stupid thing's broken down 3 times in the year and a half since the first year was up, so I'm glad of it.

I wouldn't bother for more reliable appliances.

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extended warranties?

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