Rangemaster Induction Cooker- breakdown insurance

Anthony_Clark

We have a warranty insurance for our Rangemaster cooker from Homeserve, for 3 years. A renewal notice has been sent us, advising that the forthcoming premium will rise by 93%; from £90 pa to £174 pa.

We have not made a claim and find this unacceptable. I am retired and feel as though I should not renew the policy. I don’t what to do and I would appreciate comments from others.

Nobby12

EssexExile

It's entirely up to you and your attitude to risk. Personally I wouldn't insure a cooker, they're very reliable and quite simple to fix if they go wrong.

Ectophile

£172 pa is £522 over 3 years.  If it does go wrong any time in the next 3 years, do you think it will cost £522 to fix it?

I don't bother insuring things that don't need insuring.  I would rather have the money in the bank.

FreeBear

Ectophile said:  If it does go wrong any time in the next 3 years, do you think it will cost £522 to fix it?

As long as it isn't the induction hob developing a fault, the rest of the spares are pretty cheap. The circuit boards for the rings, different matter.

But if it hasn't gone wrong now, it will probably go for another ten years, maybe longer. Personally, I wouldn't bother paying for breakdown insurance on any domestic appliance as I have the skills to fix most things. For the stuff I can't be a***d to fix, they are cheap enough to replace anyway.

Mutton_Geoff

As others say, self insure.

Rose_Walker

I also have a Rangemaster cooker that I haven't made a claim on in 3 years. It has also jumped from £78 pa to £154, almost double. I called Homeserve and they agreed to reduce it to £115, that makes my blood boil, why not give the cheaper price in the first place, I don't see why I should have to pay for everyone else's repairs!!

CliveOfIndia

Rose_Walker said:

I also have a Rangemaster cooker that I haven't made a claim on in 3 years. It has also jumped from £78 pa to £154, almost double. I called Homeserve and they agreed to reduce it to £115, that makes my blood boil, why not give the cheaper price in the first place, I don't see why I should have to pay for everyone else's repairs!!

That's the nature of pretty much all insurance - it always pays to haggle.  And as others have said (5 and a half years ago!), for domestic appliances self-insurance is often a more financially savvy option.