Appliance Insurance

lemonade_lifestyle

Can anyone offer advice please?
Which appliances/electrical goods throughout your home do you have insurances on? I.E washing machine, tv...
Am trying to have a monthly budget cut and am trying to decide what, if any insurances I should do away with.
Also does anyone have a home emergency policy? We have one with The AA and am wondering if it is worth while keeping.
Thank you x

phill99

I've lived in my house for 22 years and never had appliance insurance or home emergency cover. The washing machine I had when I moved in was 2nd hand and lasted 5 years. I bought a new machine 17 years ago and it's still going strong. I had to buy a fridge freezer as I damaged a freezing pipe with a scraper when trying to defrost the freezer. This couln't be repaired so I bought a new one. So in 22 years I have spent about £520 on new appliances. If had insured just one appliance it would probably cost £7 a month. So that would have cost £1848. I could have bought all new appliances for that sum of money.

I think it's probably the worst kind of insurance. Sales assistants at Currys and Comets are keen to tell you what a good machine it is that you re interested in buying to bag a sale, but the minute you get to the cash desk they are telling you how unreliable the machine is so that you buy breakdown insurance. So is it a good machine or a bad machine? Make your mind up.

Bear in mind also that replacement appliances are now cheaper than ever. You can get a washing machine for less than £200 now. If it lasts you 3 years it's cost you £5.50 a month. Less than it costs to insure it. An undercounter fridge can be had for around £110. The only thing ht can really go wrong on a fridge is the compressor and they last for years.

Why don't you self insure. Just put £10 in a separate account each month. Then in a years time you have enough fo a new fridge and in 18 months enough for a new washing machine, or at least have the money to get them fixed.

I would say much the same about home emergency cover. How often do you actually have an emergency that you need to get a guy out for?

rs65

lemonade_lifestyle wrote: »

Which appliances/electrical goods throughout your home do you have insurances on? I.E washing machine, tv...

I've never had any appliance cover nor extended warranties.

Had home emergency cover for a year because it came with my home insurance but changed insurer and don't have it now.

lemonade_lifestyle

I think they work by scaring us into the worst case scenario.
Thank you for the replies x

meer53

I have insurance on my washer dryer and dishwasher. I've used the insurance twice on the washer dryer and once on my dishwasher, the insurance has paid for itself on both items so far. I'm glad i took it out.

I also have emergency plumbing cover which costs me about £80 per year. 2 years ago, i had 2 burst pipes within the space of 4 weeks, it was minus 12 outside, everyones pipes were bursting, there was 2 feet of snow on the ground, plumbers were like rocking horse sh*t ! Neighbours were being quoted 2 weeks for a callout from local plumbers. The plumber came within 24 hours and repaired my pipe in my kitchen, wall units had to be removed and part of a wall demolished to get to the pipe. I dread to think how much that would have cost me if i hadn't had the cover.

It's ok saying that over x amount of years you could have saved x amount, but insurance is exactly that, insurance against having to pay out a huge lump sum. It's a lot easier to find a monthly amount than a four figure amount all at once. Horses for courses really, i prefer to feel safe in the knowledge that it's covered.

sort_me_own_yard_out

I think I have had your fair share of washers then lemonade!! In 16 years I am now on my third. This one being the oldest ever at a whopping 8 years of age! It broke down for the first time last year and I took an extended warranty out last year which included getting it repaired. I have also got cover on my dishwasher that has had 4 heating elements in the last 2.5 years. So i dont feel to hard done by with the extended warranties.

lemonade_lifestyle

I have decided to drop Tv and Oven insurance (getting rebate on the oven) and will stick with Washing Machine and Tumble Dryer (essential in my family espc during winter).

You watch, my tv will pack up now