Protection Plan for new washing machine?

zzzLazyDaisy

I agree. My last machine lasted me 5 years - and it was bought second hand for £50 from a friend who'd had it 3 years already.

My new one was a bigger, better, and much more expensive machine. I did think about insurance for that, but figured I'd 'self insure' it is now four years old and going strong without a murmer - during that time I would have paid enough in insurance to buy a new one if it died now (which I don't expect it to).

But if you want to insure, have a look at the square trade insurances on Amazon. They include breakdown and accidental damage (I broke the door on my last washer by leaning on it when I emptied it, so that's not such a crazy idea!)

david39

SOGA does not fully protect you for the full cost of the machine - after the initial manufacturer's guarantee period, it reverts to a proportional refund depending on how long you've had it.

If it goes wrong at 14 months, you'll get most, if not all, of your money back but after 4 years you'll get a small fraction.

Having said that however, I don't buy extended guarantees either. I just buy a new machine if the cost of repair is over £40 to £50 (which is usually the call out charge on its own.)

Incidentally, the reason why washer/driers go wrong so frequently is because the heat during the drying cycle makes the printed circuit boards go brittle and then crack from the vibration during the spin cycles. Buy a simple washing machine and then, if you need a dryer, buy a separate unit. Less convenient, but far cheaper in the long run.

ormus

iamcornholio wrote: »

Its probably about £230 or so in all for nearly three years of cover - the initial free warranty ran out after the first three years ... when nothing went wrong

We've had elements, pumps, electronics, sensors you name it go wrong

This model actually came with a five year parts warranty, but the deal was to use their own personnel for the labour cost - which would have worked out very expensive. So we took the insurance out with D&G instead

our last 3 indesits all cost less than that.
each one lasted an average of 7 yrs without any major problems.

iamcornholio

Washer driers?

ed110220

I very much doubt it will be worthwhile.

If you don't think you'll have enough money to buy a replacement or for repairs in the event it breaks down/fails then why not save £6 a month instead of paying that to someone else. By the time the machine needs repair or replacement you'll probably have saved much more than the cost of the repair or replacement.

I think insurance is really only for things/events you couldn't possibly afford to put right eg if your house gets burnt down, if you've saved up for a very long lime for some item you would struggle to replace etc.

karl-123

homeserve has just been on rip off britain,
this morning with gloria hunniford,

not wanting to put you off those kind of companies or anything,

Innys

For reference, my Bosch washing machine I bought 8 years ago has never broken down - touch wood. Admittedly, I only use it a max of four times a week, but given it cost no more than £300 (if my memory serves me correctly), I'm not disappointed. If an equivalent plan was available 8 years ago, I'd have saved myself over £500 in that time.

The other thing to consider is the point made by ed. If you don't have a spare £200 sitting around in case your machine breaks down the day after the warranty expires, a warranty plan such as this may make sense. Otherwise, run a mile.

daggy

GlynD wrote: »

Don't be tempted into the con because that's all it is. Just be determined to be a Money Saver if it does break down and insist upon your rights under the SOGA - that's all you have to do and it's FREE!

True, but the SOGA doesn't give a next day call out, so you have to factor in the costs whilst you're waiting for an offer... launderette etc

iamcornholio wrote: »

We've had a Hotpoint washer drier for about 6 years and I am glad I got the repair insurance (with D&G) when the initial warranty ran out

We've had loads of problems with it - the cost of which has exceeded our total monthly payments

Latest one, a few months ago it was a sensor and the display panel - about £130 worth of parts not including the labour ... and fixed within 2 days of my phone call

Our previous machine, a Hoover lasted for about 15 years IIRC, with only a replacement pump and motor .. which I replaced myself. And it was used daily, often a few times a day

So it may depend on the machine as to if its worth taking repair insurance out

I'm becoming more and more convinced that hotpoint are terrible....so many people have persistent problems with them... their parts guarantee is a farce too... nothing but a marketing gimmick. You'd probably spend the same going with an independent engineer who coul source the parts for you.

GF's family had a hotpoint which broke on a regular basis. They bought the warranty every year, but it was getting to a point where they'd ring hotpoint and would have to wait almost a week for an engineer... they've now bought a miele.

I don't know how much your washer was initially, but could you nothave added the £200+ on and bought a better washer? By the time you replace the washer. you'll probably have sent a lot more than £200+ on warranties. Granted, you possibly didn't have this extra cash spare at time of purchase.

OT: OP these warranties are rarely worth it. You need to take into account the cost of your washer, the brand and model (does it have a history of failure) and the cost of parts? Beko parts, for example, are apparently exponentially expensive.

Saving up the £6 per month is all fine and dandy, if you will stick to it; I don't think I would. Having said that, if you apply this principal to all of the appliances you bought, you'd increase your general savings and could probably cover the cost of a new machine.