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Is It Worth Taking Out Extra Insurance on Domestic Appliances?

When you think of the cost of a washing machine, cooker, dishwasher, or dryer, we are talking a significant amount of money, and although most manufacturers give a 12-month warranty on their products, there is an option to take out an extended warranty. This is typically something the retailer would offer the consumer at the time of purchase, and while it might seem like a good idea at the time, is it really worth it?

Heavy Use

If you are looking for UK washing machine repair companies, that means you have suffered a breakdown, and it isn’t surprising when you consider how hard this machine actually works. With a large family, the machine is constantly whirring away, as load after load is completed, and this goes on in all seasons and at all times of the day and night, depending on the occupants’ needs. The machine might be a couple of years old, and the cost of repair would depend on which component needs replacing. So, you call out a technician, and after a quick look, he explains that the repairs will cost a little more than you had thought, but the good news is they have the part in stock. It is at these times, you wonder why you didn’t take out that extra warranty the salesman offered, yet is it a wise move to pay for something you might never use?

Modern Appliances

The latest generation of domestic appliances are made to very high standards, which means they rarely break down. This is reflected in the lengthy warranties given to all (or part) of an appliance, and adds weight to the argument that extended warranties are impractical, and when you factor in the relatively low cost of a repair, should it ever happen, the chances are you will be in pocket of you stick with the manufacturer’s standard warranty, which is already attractive. If you take good care of an appliance, and follow the manufacturer’s guidelines, there is no reason why the machine should require repair.

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Existing Cover

If you live in the UK, and have recently purchased an appliance, The Consumer Rights Act 2015, automatically covers the consumer, and if you purchased a washing machine, you can return it to the store at any time within the first 6 months, and the onus is on the retailer to prove the appliance was not faulty when you bought it. If you paid by credit card, you will have further consumer protection in the form of the Consumer Credit Act, which is always on the side of the consumer.

Cheaper Repairs

Modern components are becoming cheaper to produce, with composite materials and automated manufacturing, just two of the reasons why. If the cost of repairs are minimal, it negates the necessity for extended warranties, and with more and more people realising this, perhaps the days of extended warranties are numbered, at least with regards to domestic appliances.

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