Is it worth buying an extended warranty?

… Or Why should I insure my washing machine for £6.58/month, if it only cost me £199?


Firstly, we sometimes get asked, “Why should I cover my washing machine on a £6.58 a month policy if it only costs £199 to buy a new one?” Well, the main reason is that as household appliances get cheaper, their reliability declines dramatically (see our figures below).

To be absolutely clear: Our £6.58/month single item policy will cover a single item up to a maximum value of £3000, so just 2% of the total possible insured value is spent on protecting your appliance each month, covering multiple individual repairs of up to £300 per claim.

Additionally we offer multi-appliance cover from £10.99/month where you can insure an unlimited number of appliances up to the value limit on the respective policy, for example, multiple items up to a total value of £5000 on our Gold policies.

We believe that these choices provide excellent value for our customers.
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We designed out home appliance policies to address two primary problems:

  1. Shops sell massively over-priced warranties. Don’t just take our word for it. The consumer advice website has it as its number one need to know about extended warranties.
  2. The average lifespan of appliances is dropping in relation to prices. Again, don’t take our word for it. The White Goods Trade Association, identified this problem in 2010. It’s since got worse then, prompting the BBC to raise the issue again in May 2014.

In a recent study by Which, it was found that some Hotpoint appliances now have a reliability score of just 55% in the first 6 years of their lives.  Our policies and extended warranty options are designed to protect against this continuing drop in reliability and to offer our customers genuine value for money.

Manufacturer warranties last for a year or two but most appliances only start giving problems later in their lives. Our extended appliance warranties offer a solution: They are inexpensive and can provide cover for multiple appliances.

If you want to see what the manufacturer warranty on your particular brand is, we have details of many of the leading brands warranty offerings here.

Why our extended warranties?

Your extended warranty cover runs for up to 8 years. After this, our underwriters feel appliances become a significantly higher risk. Insuring them past that point would increase prices for our customers. This is something we don’t want to happen.

Your home contents insurance might cover some appliances against damage, theft or fire, but they don’t normally cover breakdowns. You will require an extended warranty for breakdowns that occur once the manufacturers warranty period has expired.

Overall there are many reasons for protecting yourself with an extended appliance insurance:

  1. You receive a lot more with Our entry level single item policy allows you to insure a single item up to the value of £3000 for only £6.58 a month. also offers multiple appliance cover. It’s a good idea to insure as many of your appliances as possible until you reach the combined maximum value.
  2. Our extended warranties cost between 0.4% and 2% of your total appliance value per month. Our best value Silver and Gold policies cost just 0.5% or less. So it would take up to 16 years of paying for your warranty before it equalled the cost of a new appliance. If all your insured appliances break during your warranty period, we will repair them up to the limits shown in your policy documentation.
  3. The excess we charge will most likely cost less than an uninsured call out alone. For the excess you pay per claim, we will arrange a call out and carry out any necessary repairs.
  4. Peace of mind and convenience of excellent and consistent service. If you are unsure whether appliance insurance is for you, you need to weigh up the costs and benefits. The cost is as little as £5.99 a month. The benefits include the convenience of call outs arranged on your behalf, and insuring multiple appliances on one policy.

Is this a warranty, insurance or a cover plan?

All of the above. Extended warranties are basically insurance policies. That is, unless they are described as warranty cover plans or maintenance plans. In this case, they may perform the same function but aren’t regulated by the Financial Conduct Authority‏ (FCA).

Our extended warranties provide maintenance plans, as well as insurance in the event a replacement is needed, on one single policy and we are regulated by the FCA.  We believe this gives our customers much greater peace of mind.
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