Insuring houshold appliances

[raymondo1952]

when your appliance has to be renewed by insurance company that insures your houshold appliances,why do they not transfer the rest of the old policy to the new appliance. If you paid your premium in a lump sum, you would lose out but if you paid in installments you could just cancel your direct debit for the rest of the months left on the policy

[*Belle*]

Because if you pay by installments, you are paying the finance company not the insurer. These policies are sold on by the retailer with a healthy mark up. The insurance company will have been paid out shortly after the original transaction.

[therascal]

Because if you pay by installments, you are paying the finance company not the insurer. These policies are sold on by the retailer with a healthy mark up. The insurance company will have been paid out shortly after the original transaction.

 

But what the retailer also fails to tell you is that under E.U. law a supplier can be held responsable for upto five years for any repair. And before anyone jumps in, I had a computer that went faulty 23 month after purchase replaced after quoting this E.U. legislation.

[raymondo1952]

The story is when your appliance breaks down and as to be renewed with a new one by the insurance company, why is your insurance what you paid not carried over to the new appliance, say you taken 4yr warrant out and the appliance breaks down after 2yrs you lose 2yrs and have to take a new policy out for the new appliance.That policy on the broken down appliance could cost £200 so you lose £100 then have to pay another £200 out for the new appliance