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Ever considered taking out cover to protect your white goods? Here's what you need to know about home appliance insurance
Home insurance will repair or replace your home’s white goods and other appliances if they stop working through mechanical failure or accidental damage.
Your appliances will typically have to be less than eight years old to qualify for this type of cover.
Home appliance policies usually run for 12 months – after which time you can either renew or shop around for a better deal.
Most providers offer cover for cookers and microwaves; fridges and freezers; washing machines and tumble dryers; dishwashers, TVs and TV boxes, games consoles and music systems.
Digital equipment such as laptops do not tend to count as household appliances. They will need to be insured under your home contents cover – and declared separately if their value exceeds the ‘single item limit’ stated in your policy agreement.
Alternatively, some packaged current accounts – usually ones that charge a monthly fee – may provide cover for your gadgets if you register them with your bank.
Running a busy household without white goods – especially a washing machine and tumble dryer – can become very challenging very quickly. Having appliance breakdown cover provides 24/7 peace of mind that, should your appliance lifelines stop working, an engineer will be sent out (usually within 24 hours) to fix or replace it.
Paying premiums for domestic appliance insurance also means you don’t have to find the cost of replacing an appliance – or for arranging for it to be installed – when it breaks down or is damaged.
A typical domestic appliances home insurance policy should pay for the parts, labour and call out charge – including emergency call outs – when an appliance breaks down due to mechanical failure or accidental damage. However, always check the provider’s terms and conditions so you know exactly what is and isn’t covered.
You can cover multiple home appliances under one policy. In fact, doing this often leads to a discount on the annual premium.
There are some scenarios when you may not need home appliances insurance – or buying it would mean doubling up on cover you already have. Here are some examples:
As part of the Consumer Credit Act, you’ll be entitled to a refund if an appliance is faulty, cost between £100 and £30,000, and you bought it with a credit card.
Your premium quote will depend on several factors such as where you live (for example, an area of high crime rates or flood risk), the value of appliances you are covering, your own personal claims history – and whether you choose to pay your premiums monthly or annually (paying monthly is more expensive overall).
However, basic cover can start from just a few pounds a month.
Providers usually operate a new-for-old policy as part of their home appliance insurance, which means you’ll be given a brand-new replacement, usually market-equivalent, for the damaged appliance. Check your policy details.
You can also buy off-the-peg appliance insurance from some standalone specialist providers.
Alternatively, contact the manufacturer of the appliance – or the retailer you purchased it from – and buy an extended warranty – a ‘top up’ to the initial one it came with.
Many types of insurance policies come with exclusions – these are the ones that you might find in a typical domestic appliance policy:
Start your journey to protect your home’s appliances by answering these quick and easy questions from MoneySuperMarket.
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