Is It Worth Insuring Your Home’s Appliances? *

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Is It Worth Insuring Your Home’s Appliances?

Technology is great until it goes wrong. In fact, you hardly notice how much easier human lives have become since the invention of appliances until they stop working. Then you find yourself plunged back into the 19th century having to wash your clothes by hand or not being able to freeze your leftovers. This is the point at which you might wish you had taken out appliance insurance while you had the chance.

What Is the Difference Between Home Insurance and Appliance Insurance?

It might be that you already have contents insurance for your home, so you do not feel you need to take out a separate policy for your appliances. However, home insurance typically covers you for natural disasters such as fire or flood or if your appliance is stolen. It will not cover you for problems concerning the age of the appliance, wear and tear or accidental damage. This is where appliance insurance comes in, as it will usually cover all these issues. Many policies will also cover the call out charge for the repairman, parts and labour and some even offer a dedicated helpline so you do not have to shop around or call multiple tradespeople if your appliance stops working. It is prudent to have both home insurance and appliance insurance.

Where Can You Get Appliance Insurance?

When you buy a new appliance, you are often offered insurance. However, it is worth shopping around for appliance insurance to make sure you get the best package you can. can help you to compare appliance insurance by looking at the cost as well as how good the insurance company are at paying out on claims, how many appliances you can cover on one policy, and if there is an excess charge on the policy. These are all important considerations when comparing appliance insurance, so look at the broader picture rather than just the monthly cost.

Does It Offer Good Value for Money?

Appliance insurance tends to be relatively inexpensive. When considering the value for money, compare the cost of paying two- or three-years’ worth of the insurance policy to the cost of replacing the appliance. If the appliance works out more expensive than the insurance policy this, is a good sign to take out the insurance.

If your appliance is brand new, then it will be covered by the manufacturer’s guarantee that typically lasts between one and five years. If the appliance is under six months old, it will be covered by the Consumer Rights Act of 2015, which means that if your appliance develops a fault within six months of buying it, you are entitled to a refund from the retailer. Therefore, if your appliance is new, you don’t really need the insurance.

It is worth taking out appliance insurance if your appliance isn’t new as this could save you a lot of money if things do start to go wrong with it. After all, it is better to be safe than sorry.

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