Kitchen appliance protection

SHEILA54

Hi

My kitchen appliance insurance with Homeserve has just finished and I am looking to replace it. With Homeserve all appliances were covered for full reinstatement value for items under 8 years old. The policies that I have looked at now seem to have a sliding scale, dependent on the age of the appliance, and I wondered if there are any that supply the full cover available?

Many Thanks

dacouch

How much a month were you paying with Homeserve?

Did you ever claim and for roughly how much?

phill99

If you work out how much covering all your appliances has cost in say 24 months, I bet you can replace at least 2 of the appliances in your kitchen for less. Appliance insurance is a con.

SHEILA54

Hi
I paid around £43pm but in 4 years have had a new dishwasher, washing machine and microwave from them as they couldn't be repaired.

ACG

So its cost you £688 for each replacement?
£43 x 12(months) x 4 years = £2064.Divide that by the 3 items and it comes to £688 each.

Is it still worth paying £43 a month for?

EDIT:
Ive just read my message back, i wasnt saying its not worth paying for. Some people are useless at saving (my gf is a nightmare!, she gives me so much of her money to save for her because she cant...i feel like her dad at times!!!) if you cant save then its probably worth having because otherwise you wouldnt have had the money set aside to get replacements.
To me, it seems like they are definately getting the better deal but everyone is different.

dacouch

Have a read of this link and see if you think an extended warranty is value for money or whether you would be better putting £30 a month into a separate account to self insure yourself http://www.thesun.co.uk/sol/homepage/features/3997837/Do-you-need-costly-service-package.html

ihateyes

Domestic and general do this cover, as does British Gas.
I believe between 6 and 9 appliances they charge £21.
If app is 3yrs or under, and cant be repaired you get a new app otherwise its money towards a new one.

phill99

£43 a month!? In less than 1 month you can buy a new microwave. In 5 months you can buy a new washing machine. I think they saw you coming!

olly300

SHEILA54 wrote: »

Hi
I paid around £43pm but in 4 years have had a new dishwasher, washing machine and microwave from them as they couldn't be repaired.

I think you would find this thread interesting to read. The other posters apart from one are saying clearly that appliance warranties are not moneysaving.

I've managed to successfully argue with a retailer when a microwave broke down after 13 months outside the retailer's guarantee that a microwave is expected to last more than 13 months. I got a new one and also £10 as the microwave had been reduced in price. I still have the replacement microwave 3 years later.

Talking to family, friends and other people lots of people suffer microwaves breaking down within the 2-3 year period but as they now very cheap they just go and buy a new one.

In terms of appliances with moving parts like dishwashers and washing machines buy them from well regarded retailers even if it costs a little bit more as they tend to give longer guarantees even if it costs a little bit more. Then self-insure for when the product breaks down and isn't repairable.

katejo

SHEILA54 wrote: »

Hi

My kitchen appliance insurance with Homeserve has just finished and I am looking to replace it. With Homeserve all appliances were covered for full reinstatement value for items under 8 years old. The policies that I have looked at now seem to have a sliding scale, dependent on the age of the appliance, and I wondered if there are any that supply the full cover available?

Many Thanks

All the appliances which I have bought up until 2012 have lasted a minimum of 5 years (2 of them lasted 12-13 years) without any need for repair or replacement. I hate to think how much I would have wasted on paying extended guarantees throughout this period.
Have you ever needed to claim on these policies? Did they pay up?

SHEILA54

Thank you for your advice. I misquoted and was actually paying £37 pm but I have had a number of items go wrong since I took out the insurance (bad luck I guess) and the repairs have been free. Maybe I should price out saving money each month but repairs are so expensive so I prefer to cover myself as it is difficult to find large sums of money. Also the engineers are answerable to the comany and won't try to rip me off.