Appliances insurance - rental property

Happy_saver_4

We're just going to let our property; unfurnished. We want to reduce, if possible, some of the hassles and thought it might be best to have a repair insurance contract on the appliances. But, which is the best Company?.

The property and fittings are only a year old.

We need to cover :-
Dishwasher, Fridge/freezer, halogen hob, gas split level cooker, gas balanced flue fire. All items are just 12 months old and the gas appliances were installed by corgi engineer.

Fortunately the Bosch gas boiler has a two year warranty so still covered for another year.

Your information and advice appreciated

stevetodd

Happy_saver wrote: »

We're just going to let our property; unfurnished. We want to reduce, if possible, some of the hassles and thought it might be best to have a repair insurance contract on the appliances. But, which is the best Company?.

The property and fittings are only a year old.

We need to cover :-
Dishwasher, Fridge/freezer, halogen hob, gas split level cooker, gas balanced flue fire. All items are just 12 months old and the gas appliances were installed by corgi engineer.

Fortunately the Bosch gas boiler has a two year warranty so still covered for another year.

Your information and advice appreciated

Make your own decision of course but I think this type of insurance is hugely overpriced and is bad value.

Happy_saver_4

stevetodd wrote: »

Make your own decision of course but I think this type of insurance is hugely overpriced and is bad value.

I agree I think it may well be overpriced and bad value. BUT if we are not around and something goes wrong my agent or tenant knows who to contact. Also, I will not have to pay any possible exorbitant price for any repairs; just because I'm not around to sort it out.

So, back to the question does anybody know a company who offers good appliance insurance at the right price?

hethmar

Homeserve sent me an offer not long back for a package deal which I wish I had taken out as my dishwasher, just out of guarantee has died on me.
http://www.homeserve.com/insurance/kitchen-appliance-protection?hs_c_id=PPC_GOO_INS_APP_appliance+insurance&gclid=CLnWwKrY8pYCFRyS1QodkTfbXg


Boots also do a package cover including cosmetic damage but Im not sure if thats just for appliances bought through their appliance subsidiary.



Have a google.

Incisor

Happy_saver wrote: »

I agree I think it may well be overpriced and bad value. BUT if we are not around and something goes wrong my agent or tenant knows who to contact. Also, I will not have to pay any possible exorbitant price for any repairs; just because I'm not around to sort it out.

So, back to the question does anybody know a company who offers good appliance insurance at the right price?

Your choice is to pay exorbitant prices for repairs or exorbitant prices for insurance. The benefit of exhorbitant insurance prices is that planning is easier because it is certain that you must pay them, whereas for a repair your risk is more difficult to calculate.

But what I think Steve is trying to tell you is that despite solving the planning problem, insurance does not deliver a surefire repair - it may be cost effective for an insurer to accept the risk of your appliance breaking down with a near certainty of failing to repair and then recruit a new customer after you leave - they may get 5 years premiums from you without needing to deliver.

Your 2 best choices are to find a trustworthy local repairer in advance or even to self insure by replacement of a failed appliance.

poppysarah

You can't expect the tenant to organise their own repairs. There needs to be someone available - during and out of office hours to deal with emergencies.

If a cooker breaks it either needs repairing or replacing. But it's not that simple as you can't leave the tenant the phone numbers and let them get on with it.
It's your property so either manage it yourself or pay a letting agent fee to do it.

hearts

I find with most things it's just as cheap to replace than repair
Insurance is not worth it. A new cooker costs a couple of hundred quid and you get 2 to 5 year guarantees. Same with a Fridge/freezer.

hethmar

Have to say Im beginning to feel the same. I just had a problem with a dishwasher just out of years guarantee. £50 call out and he tells me £150 parts - £200 and I would still have a dishwasher I dont feel is now reliable.

N79

hethmar wrote: »

Have to say Im beginning to feel the same. I just had a problem with a dishwasher just out of years guarantee. £50 call out and he tells me £150 parts - £200 and I would still have a dishwasher I dont feel is now reliable.

Thats the point - you could buy a new dishwasher for that price!

Flyingbanana_3

I let my house unfurnished but left a w/machine & gas cooker based on if they broke you replace. I know that does not answer your question. I did it this way cos the house i moved into had all the appliances intergrated. Anyway, i Have got B.Gas Homecare that looks after plumbing,boiler,electrics & water pipe. In the last 2 years every radiator has had a leak and been replaced by B.Gas free of charge under the mthly p/ments. The only hassle i have had is i had to go there to meet the eng & then he would order the radiator & come back another day.

In my current home i used homeserve. First call out i did i then dumped them. The bloke was a freelance plumber character that did nothing but take calls on his mobile organising other jobs etc. Then i run the scenario of a leaking radiator past him & he tells me they will attend to turn the rad off but then it is down to me to replace ! No thanks

One small note, when i called to cancel the homserve contract I said money was tight & they reduced it to a crazzzy fig for the rest of that yr

hope this helps

N79

Flyingbanana wrote: »

I let my house unfurnished but left a w/machine & gas cooker based on if they broke you replace.

I'm sorry but if you are still renting out this property you need to review your legal obligations as a LL. If you provide the cooker and it breaks I'm afraid you as LL need to replace.