Washing Machine Cover - Thoughts?

katejo

chib wrote: »

When we moved house last March we bought a new Hotpoint washing machine from Currys - I think it was about £350-£400 and has been brilliant, never had a problem.

Today I received a letter from Mastercare (Part of DSG) offering us cover on it. The price is £131 for four years of cover or £13.10 x 10months (More appealing!).

What are the general thoughts on this? Worth going for? I generally don't bother - but with another child on the way and saving towards a mortgage I'm thinking this may not be a bad idea.

Anything to watch out for? The letter does state that if it can't be fixed over the phone they will arrange for the repair or replacement.

Interested in other peoples thoughts.

Regards, Chib.

I wouldn't bother myself. I have had 2 Hotpoint washing machines and 2 hotpoint fridge freezers. The first washing machine lasted 12 years without any repairs. the 2nd is now 6 years old and going strong. The first fridge freezer lasted at least 13 years. The 2nd did fail after 5 and has just been replaced.

Ben84

I've never been convinced by appliance insurance. They have already worked out that a decent majority of people who buy it will either not claim it or claim for repairs that cost less than the insurance on average. However, even if the unlikely happens and your washing machine fails in some serious and expensive way so early that it pushes the repair costs above £130, you can quite easily buy a second hand machine for less than that. So, if you can spare this money I'd put it in to savings for appliance repairs or replacements when needed. It's more flexible, you can repair or replace any appliance with it and if after four years you haven't used it, then you get to keep it plus interest.

IanManc

I've given up on these insurance schemes. My last washer was useless, and the alleged repairmen who were sent out by the insurers were worse than useless. So when I bought a new washer and a new dryer I refused the extra cover on both, and if either of them conks out I'll just buy a new one with the money I've saved on the insurance - and it's much quicker and less stressful than waiting for an appointment with a repair guy who can't fix appliances when he does eventually turn up.

chib

IanManc wrote: »

I've given up on these insurance schemes. My last washer was useless, and the alleged repairmen who were sent out by the insurers were worse than useless. So when I bought a new washer and a new dryer I refused the extra cover on both, and if either of them conks out I'll just buy a new one with the money I've saved on the insurance - and it's much quicker and less stressful than waiting for an appointment with a repair guy who can't fix appliances when he does eventually turn up.

Yes, I think you are spot on. Additional benefit is that locally some companies will collect the faulty washer for scrap metal, or the store delivering it may take it away without charge I guess.

SailorSam

Are you really getting 4yrs cover ?
If you've only just bought it you've probably already got a 'free' 2yr guarantee, so by paying you're only getting 2yrs.

hope6804

I have just called my insurance company as my machine has stopped spinning and draining again. This is the 3rd time in 11 months with the same fault and it has taken them ages to get spare parts, I waited 4 weeks the first time and 6-7 weeks over the school summer hols last summer and here we go again I just wish they'd give me a new machine!!!