Furniture Village protection insurance. Is it worth it?

jimbo40

We have just ordered a table and sideboard from furniture village and taken the £175 5 year accidental damage from Valspar insurance. Can any other members tell briefly of their experiences when in the case of a claim the company lives up to its promises. I have accidental damage under my home insurance, but as the salesman pointed out in the event of a claim, my policy excess (in my case £150) would have to be deducted first. This argument does lead me to take the insurance and with 2 young kids it is likely that there may be some damage in the future. Any opinions?

dunstonh

I have accidental damage under my home insurance, but as the salesman pointed out in the event of a claim, my policy excess (in my case £150) would have to be deducted first. This argument does lead me to take the insurance and with 2 young kids it is likely that there may be some damage in the future. Any opinions?

The odds of you damaging it are remote. However, your excess (which is rather high for home insurance - £50-£100 is more the norm) is still less than the £175 you have to pay to have the duplicate cover. So, your home insurance effectively has one free claim on it compared to buying this second insurance.

dacouch

Why don't you use the money to reduce your policy excess from £150 to £50 which will probably cost you circa £10 a year. If you make a claim your premium will increase by circa £25 a year (ISH) for two or three years.

So if you don't make a claim you are quids in, if you do make a claim you will still be quids in and in addition you have a lower excess for any other claims on your home Insurance.

Basically it's very over priced and is a nice earner for furniture village and the salesman.

You have a 14 day cooling off period to cancel the Valspar cover.

(There are a few complaints about Valspars claims on MSE and other places on the internet)

SandC

I never touch these additional insurances. If you are very bothered, you can reduce your excess level on your home insurance and it won't cost you £175 to do so.

dacouch

If it's this cover they have sold you then there are a few exclusions on it that won't be on a home insurance. For instance they won't pay for damage by a stain they cannot identify

http://www.furniturevillage.co.uk/PDF/FurnituregardElite.pdf

jimbo40

Thanks for your replies. Having checked my household policy my excess is only £100, so I am not going to take out this additional policy. £175 saved me thinks.!