freezer 10 yrs+ extended warranty worth renewing

happyaslarry_2

I've have freezer over 10 years that has always had the coverplan renewed every year.

my question do you think it worth me renewing now. I rang up the helpline to see if parts were still avaiable and he didn't have any imformation to give me

We have had a item in the past with an extended warranty less then five years old covered needed repairing only to be told they couldn't get the parts.

so what do you think?

JennyW_2

wow! I don't think I've ever kept an appliance over 10 years old.

Howevee in answer to your question, personally, no I wouldn't bother but that's just me. You'd probably find that the cost of repair/parts wouldn't be far off the cost of a new freezer, especially the deals you can get now.

happyaslarry_2

Hiya!

thanks for the reply.

we were thinking the same thing, there as never gone wrong with it (touch wood!!) £52.00 for the yrs cover is what they are asking this yr. I think the money is better off in our pocket then theirs.

As you said there are some pretty good deals around

I was just wondering what anyone else would do.

gromituk

The rule with insurance is: unless you can't afford to replace what the insurance covers, or you are legally obliged to insure, then don't.

Insurance companies are there to make a profit. They will always charge more in premiums, on average, than they pay out in claims. You are paying for "peace of mind".

Oh and £52 - £1 a week - is a ridiculous amount to charge for covering a 10 year old appliance which is worth zilch, and also very unlikely to go wrong.

irnbru_2

gromituk wrote:

Oh and £52 - £1 a week - is a ridiculous amount to charge for covering a 10 year old appliance which is worth zilch, and also very unlikely to go wrong.

Another way to look at it:

Lets say it lasts 5 years (given the sale of goods act) and it depreciates at £50 per year. Saving £1 a week, you'll have £250 for a new freezer if the unthinkable happens and it breaks.

Coveredinbees!!!!

One more thing a 10 year old freezer will probably be less efficent than a newer one so may also be using more juice to run, worth thinking about? I personally wouldn't bother and wait for it to go pop.