Appliance Insurance/extended warranty

Annie1960

Normally I don't buy any extended warranty or appliance insurance. However, I'm renovating and will be replacing most of my appliances (American Fridge-Freezer, washing machine, cooker, extractor, dish washer, tumble dryer, new TV, vacuum cleaner etc).

Is there any policy I could take out that would cover all items for around five years, as it may be worthwhile doing this? In particular, the American F-Fs seem to be liable to breaking down early.

molerat

http://www.money.co.uk/appliance-insurance.htm
https://www.domesticandgeneral.com/multiplan

I would work out how much one of these plans is going to cost and put that away monthly in an interest earning account. My money would be on you being able to have a nice holiday in 5 years time

paddyandstumpy

The MSE answer would be to put the amount you'll pay per month into savings for the next 5 years, if you'd pay £15 per month that's £900.

teddysmum

If you buy your tv from Richer Sounds, you'll get a free 6 year warranty.


In the case of other items, if they fail after the guarantee period, you may be able to argue that you should expect a longer trouble free life and get a cut price repair/replacement. However, we have lots of large appliances and gadgets and only the aircon unit has failed within an unacceptable time (18 months, but with little use, due to its purpose; full refund given).


Another point is that a 5 year extended warranty is not that, as this 5 years overlaps the manufacturer's own warranty period, so for product with 2 years manufacturer's warranty, you only get 3 years for your extra payout.

Annie1960

molerat wrote: »

http://www.money.co.uk/appliance-insurance.htm
https://www.domesticandgeneral.com/multiplan

I would work out how much one of these plans is going to cost and put that away monthly in an interest earning account. My money would be on you being able to have a nice holiday in 5 years time

I had no idea it would be so expensive! I was thinking along the lines of when you buy something in Argos and they ask you if want to pay £10 for insurance, but obviously major appliances are much more expensive.