The insurers we reviewed offer cover for your appliances, and the policies can often group items together – it’s different to a warranty despite their many similarities.
Insurance will cover your items and ensure that you have protection against damage, mechanical breakdown and theft. Obviously which of those elements the insurer cover you for, completely depends on what policy you take out, thus why it’s important to look through the smaller-print and consider your options.
Who Needs Appliance Insurance?
Those that own appliances- it doesn’t matter what your income is, how many appliances that you have or how old they are, everybody should be looking for protection. The cheaper the appliance, the cheaper the insurance but you can cover as much or as little as you like. The great thing about most insurance companies that insure appliances is that they understand you may have numerous gadgets and for that reason they allow you to insure all of your gadgets in one go.
When Can You Buy It?
The best thing to do when purchasing an appliance is to either take out a warranty or specialised insurance. This will give you peace of mind and ensure that if anything goes wrong, you are covered. If you have a product that was bought some time ago and you’re wondering if it is still possible to open a policy for it, the short answer is yes. There will usually be a company willing to insure your products but the fact they are older could change the price and also affect other aspects. If the item is worth less than that will work in your favour in regards to price, but age could also be a factor that works against you as the item is more likely to require replacement or repairs.
We’d advise you to take out a policy the moment you purchase your appliance, this doesn’t mean that you need to do it on the spot in the store and pay what’s generally the most expensive amount. You can seek out cheaper options upon arriving home – the Internet is your friend and you can now take advantage of it. Places like Insure My Appliance help you compare various insurers and help you pick out the different add-ons that you require.
Some insurers will not insure products over a certain age and that’s why it’s integral that you sift through the important parts of your contract and their terms.
What’s Covered in Your Policy?
What does your appliance insurance policy cover? Well this is dependent on the type of policy you take out and what company it’s with, but you should always check the terms and conditions before agreeing a package. Generally appliance insurance firms enable you to enjoy a multi pack, where you can add a number of items to one policy. You can then input the appliances or gadgets that you wish to be covered on the policy.
You can cover yourself for repairs, mechanical breakdowns, call out charges and accidental damage. Each policy will have things they cover and other scenarios they will not cover you for and that’s why you need to check the small print first.
Mechanical Repairs
You should look out for mechanical repairs, as this can be a great, budget insurance that will look into repairing your appliance. If you opt for an insurance that’s willing to replace your product, they will firstly look into ways that they can fix your item.
New Parts and Call Outs
During the repair it’s likely that new parts will be needed and if it’s a big appliance such as a washing machine then you’ll also require a call out. Some policies cover these issues and ensure that you are never out of pocket. This is a must, for those looking to cover their kitchen appliances, washing machines or dryers.
Damage
You can cover multiple products and gadgets with accidental damage, making sure that regardless of what happens to your products you are covered for all damage and repairs.
Benefits of Insurance
As with any type of insurance it enables us to enjoy peace of mind and gives us protection for products that are valuable to us. When you take out appliance insurance you will be able to enjoy repairs, protection and all call outs.
Insurance trumps warranties with longer policies that aren’t solely based on the life expectancy of the particular product. Instead you can continuously pay for the policies and enjoy the protection that they offer. This way if your washing machine or refrigerator breaks down you can get this rectified immediately without the worry of extra costs.
