Goods Insurance

[emmie]

is it worth taking out insurance on new items like the tv?

[hc4361]

Never.

[emmie]

hc
why not, can you explain?

[hc4361]

Tv's and such like are much cheaper in real terms than they were and far more reliable.
The current consumer laws give adequate protection against faulty equipment and your home contents insurance will cover you for accidental damage and theft.
Always pay at least the deposit by credit card go the extra protection s.75 of the Consumer Credit Act provides (you can get your money back from the credit card company if the tv is faulty).

There is absolutely no point in wasting money on insurance warranties

[emmie]

if i didn't have some on my white goods recently, where three items went wrong, the washing machine being only two years old, i would have had to fork out a small fortune. the tv is new though.

[emmie]

i paid for all items over time with a debit card.

[hc4361]

How much was the tv and how much is the insurance?

[Hopkirk]

If a TV survives the guarantee period it will probably last for years.

Save your money

The retailers make little on the goods, but a fortune on these insurances.

[Buenchico]

I've read countless articles in the 'quality' press, in technology magazines and online. Everyone one of them has said that you should NOT pay for 'extended warranties' and the like.

If an electrical item lasts more than a few months then it will almost certainly last for many years longer. (Electronic components tend to fail fairly quickly or not at all).

Further, if an item goes wrong within the first 6 years of purchase due to an 'inherent fault' (i.e, something which was wrong wqhen you bought it, such as the use of poor quality components or poor workmanship) the retailer must either repair or replace it. (Theoretically, after 6 months from the date of purchase, the purchaser needs to show that the cause of the problem is, indeed, an 'inherent fault' but simply challenging the retailer to suggest something else can often be all that's required).

[Buenchico]

http://www.bbc.co.uk/consumer/24447578

[emmie]

the fault on the washing machine was the heater element, due to limescale, was tripping the r c d so the electrician who came to fix the electric lights said. so i took out insurance for washing machine/ fridge freezer, to the tune of 20 quid a month.

and tv cover is 6.99 a month.

i didn't want to end up with a massive bill for the three items that went wrong in a period of 3 weeks.

[New Judge]

Good luck with your decision, emmie. However, if you follow any reasonable consumer advice sources they will all tell you unequivocally to never purchase any sort of "extended warranties" or insurance for domestic appliances. All such goods come with at least a 12 month manufacturer's guarantee (and many with longer than that) and you are afforded considerable protection from both the Consumer Credit Act mentioned by hc as well as 2015 Consumer Rights Act (which replaced the Sale of Goods Act). By the time your protection under these schemes has expired you will already have paid a large proportion of the cost of a replacement and if you want to extend cover as the appliance gets older the cost will become prohibitively expensive.

Retailers rub their hands with glee when they sell these policies because they are selling you something that, by and large, you simply don't need. I'm surprised that they have not developed into the scandal that PPI has.