Domestic and General Appliance Insurance prices

Rishtonite

I have my Zanussi washing machine covered with a D&G policy. Currently the price is £7.49/month. Just had a letter saying it is going up to £10.10/month. Too much! A 35% increase!

So I phoned them to cancel the policy, but they then offered me a price of £7.29/month.

Another case of firms charging what they think they can get away with and people not noticing, or just ignoring the increase.

I'm still going to cancel the policy as I'm willing to take the risk of the machine failing and having to pay for repair or replacement myself.

Assuming they are not abused, most electrical/electronic devices fail within the initial manufacturers guarantee period, or after many years of good service, so think carefully about taking out extended warranties and/or breakdown cover. Several years of paying for insurance could cost you as much as a replacement machine.

born_again

Take the MSE route. Pop that £8.00 in a savings account. When time for a new one, often you have more than enough.

Brie

I had a D&G policy which I took out when I found out how much it would cost to replace the fan in my oven.  I was surprised they allowed me to take it out but the charge for a year was less than a call out charge for getting someone myself to even look at the thing.  Had another problem with it the following year when the grill portion failed so kept it for that.  And then it got too too expensive so I cancelled at the next renewal.  They chased me up for a couple of years but I didn't budge.  The oven then failed again but by then the grill was failing again too so I just chucked it.  Cost of a new oven was just over what I might have paid for insurance but at least I know I should be good for a couple of years at least.

Have the same attitude with HomeServe for plumbing problems.  Only take it out when it seems there might be a need and it's available at 50p a month.

DullGreyGuy

Most of what D&G sell isn't legally insurance but a service/maintenance plan but there is some insurance in there too.

Rishtonite said:

Another case of firms charging what they think they can get away with and people not noticing, or just ignoring the increase.

They sell over £1bn a year and make about 3% before tax, by most yard sticks 10% is the target, 20% is doing good and 5% is the minimum. 

Rishtonite

Brie said:

The oven then failed again

Since getting an air fryer I haven't used the oven part of my cooker. There are 4 hobs, so if one fails it isn't a problem. I do use the grill though. It's cheap(ish) Beko so I don't consider it worth paying for insurance.

And the washer is only used about once a week so I'm hoping that to last a fair while.

PS There's an icon on MY header "Combo Breaker". What does that mean?

DullGreyGuy

Rishtonite said:

It's cheap(ish) Beko so I don't consider it worth paying for insurance.

A friend is an appliance engineer, Beko according to him is a brand that goes from cheap to amazing value on a cyclical basis. They won't have top end features but at the peak of the cycle are a robust and reliable at a brilliant price. At the bottom you get what you paid for