New TV Insurance?

JessW1986

Hi everyone,

I'm just about to buy a new TV from a catalogue and it offers an insurance plan for a one off payment of £45 that covers damages and repairs and, if it comes to it, replacement of a faulty TV. It doesn't cover things like theft, natural disaster etc. Can anyone tell me if it's a good idea to get this or would all of that stuff be covered by a simple contents insurance? I'm pretty hopeless when it comes to stuff like this so would appreciate anyone's help

Jess x

Quentin

Your contents insurance won't cover repairs if it just breaks down (though may cover accidental damage).

These policies are a great idea if you have to claim off them, and a waste of money if you never claim! You decide whether you want to spend the £45 for peace of mind. Or better still see if you can get the TV elsewhere with a long warranty thrown in.

lisyloo

What type of TV is it and how long does th plan last for?

Personally I favour self-insurance and not buying these plans, but in the case of some modern TVs they can cost a fortune to repair.
Also you could consider using a credit card that offers and extended warranty.
Nationwide used to do this but you'd need to check if it is still offered.
I think they extend manufacturers waranties for 12 months.

House insurance covers periles like fire, flood, theft etc.
If you have the accident damage cover then that would cover accidents.
House insurance does not cover breakdowns.

wizard5353

Well you are covered under the sale of goods act for 6 years in England and 5 in Scotland. Most people don't know this for some odd reason. The problem with the sale of goods act is that it's up to you to prove that the faulty item falls under the sales of goods act after 6 months. This means you would have to get a report done up by an expert and normally this costs money.

For a report on something like a TV it would cost anything between £50-£120 which is still cheaper than the excess on an insurance policy and the increase in premiums for making a claim. It's also cheaper than most of these extended cover plans.

The draw back is most retail outlets hate this law and will do there utmost not to payout, meaning you could have to file a claim at the small claims court. As far as the money goes you can get the legal fees and even the report costs back if you win or as in most cases the retailer backs down at this point.

Remember in this day and age of economic living and environmentally friendly society it is your right to expect products have a good lifespan. It is your LEGAL RIGHT! Why pay for extended cover for something you already have?