Curry's product insurance

ConorMaguire

I bought a television from Curry's back in 2007 at a cost then of £450.  I took out their insurance cover at a cost of £5 per month.  I still have the TV all these years later and am still paying the £5 per month.

Recently the TV had started to become faulty so I contacted Curry's who instructed me to bring it to a local store where it would be sent away for assessment.  With age of the TV I was told that they probably would not fix it due to the cost. 

I received an email yesterday stating that the TV could not be repaired and it would be replaced via an e-gift card.  I have received the gift card which is for £175!!  They have stated that the insurance does not cover the replacement old for new but instead the value of the TV as of today!!

Surely after paying £5 per month for the last 16 years for insurance it would cover the cost of a new replacement TV. 

screech_78

Depends on the terms of the insurance. 

You certainly don’t have any consumer rights given the length of time since purchase. £175 after 16 years is incredible if you ask me. 

MattMattMattUK

ConorMaguire said:

I bought a television from Curry's back in 2007 at a cost then of £450.  I took out their insurance cover at a cost of £5 per month.  I still have the TV all these years later and am still paying the £5 per month.

Recently the TV had started to become faulty so I contacted Curry's who instructed me to bring it to a local store where it would be sent away for assessment.  With age of the TV I was told that they probably would not fix it due to the cost. 

I received an email yesterday stating that the TV could not be repaired and it would be replaced via an e-gift card.  I have received the gift card which is for £175!!  They have stated that the insurance does not cover the replacement old for new but instead the value of the TV as of today!!

Surely after paying £5 per month for the last 16 years for insurance it would cover the cost of a new replacement TV. 

That is not how it works unfortunately, when you insure you do not get a new one if you crash your 16 year old car, you get enough money to replace your 16 year old car, why would it be any different with a TV?

These policies are almost never work it and are incredibly profitable for the companies who sell them. The fact that you took out a service which was probably not worth it in the first place and then chose to keep paying for 16 years is unfortunately on you. If you have any more of these policies then it would almost certainly be worth cancelling them. 

tightauldgit

ConorMaguire said:

I bought a television from Curry's back in 2007 at a cost then of £450.  I took out their insurance cover at a cost of £5 per month.  I still have the TV all these years later and am still paying the £5 per month.

Recently the TV had started to become faulty so I contacted Curry's who instructed me to bring it to a local store where it would be sent away for assessment.  With age of the TV I was told that they probably would not fix it due to the cost. 

I received an email yesterday stating that the TV could not be repaired and it would be replaced via an e-gift card.  I have received the gift card which is for £175!!  They have stated that the insurance does not cover the replacement old for new but instead the value of the TV as of today!!

Surely after paying £5 per month for the last 16 years for insurance it would cover the cost of a new replacement TV. 

£175 for a 16 year old TV actually seems very generous. 

You are only entitled under the insurance to whatever the terms of the insurance say you are entitled to. 

I'm a little surprised they offered you anything at all - quite often these insurances are quite rubbish and generally not worth the money. If you'd put £5 a month into a bank account for 16 years you'd have £1000 to buy a TV with today. 

HillStreetBlues

ConorMaguire said:

I bought a television from Curry's back in 2007 at a cost then of £450.  I took out their insurance cover at a cost of £5 per month.  I still have the TV all these years later and am still paying the £5 per month.

Recently the TV had started to become faulty so I contacted Curry's who instructed me to bring it to a local store where it would be sent away for assessment.  With age of the TV I was told that they probably would not fix it due to the cost. 

I received an email yesterday stating that the TV could not be repaired and it would be replaced via an e-gift card.  I have received the gift card which is for £175!!  They have stated that the insurance does not cover the replacement old for new but instead the value of the TV as of today!!

Surely after paying £5 per month for the last 16 years for insurance it would cover the cost of a new replacement TV. 

What size is the screen of TV? as you can get a 43 inch for £179, So the voucher could well cover a new TV

RefluentBeans

As others have said, it’s dependent on what is in the terms. But for what’s it worth, also worth considering how much technology has improved in 15 years. Top range TV’s in 2004 had HDTV as a premium, now it’s a given. For anyone interested; https://slate.com/human-interest/2004/12/which-high-end-television-is-best.html is a good article on high end TV’s of the time! Amazing looking back on what was thought bleeding edge back then!  

I think £179 can buy you a decent entry level TV. Would I have thought they could’ve stretched to paying for a new mid range TV, I’d have hoped so given how much money they’ve made from you! But you’re not entitled to it - they’re not a savings bank where you put away £5 a month to get the next one. But it’s a lesson learnt for future I hope - individual product insurance generally isn’t worth it unless you have a reason for it to be worth it (like dogs/cats/children) and even then you have to make sure it’s included in the policy. 

DullGreyGuy

Are you sure its insurance? Most are extended warranties that are structured effectively as service plans rather than legally being insurance.

Insurance or warranty, the terms of the policy will dictate what happens when the item is beyond economical repair, you need to read the wording. If its not insurance then your routes for complaint if you believe they havent correctly applied the terms are highly limited. 

molerat

The best way is to self insure.  When you buy anything find the price of the insurance and put that away in a savings account.  You will then have the money to get it repaired or replaced when necessary and still likely end up well in profit.  These insurances are rarely to never worth buying

HillStreetBlues

By getting a voucher you will get protection when you buy the new TV, if they had just replaced the TV then no protection unless paying for it again ( And DO stop that )

zoob

Great deal £175 for i suspect a 32 inch tv that is 15-16 years old what would have being around £450-500 in 2007
Today a 40 inch smart is only £179 in Curry's or 32 inch £139

Okell

Our TV dates back to about 2008.  I'd love to get £175 for it...