Pros and cons
Peace of mind
Multi appliance discount
New for old cover
You may already have cover
Long list of exclusions
Why should you get a policy?
You should consider an extended warranty if:
Your appliance would be expensive to replace if it stopped working
You have several items to cover, because you could get multi appliance discount
Your appliance is outside of its manufacturer's warranty
You want accidental damage cover for your appliance
Bear in mind that as technology advances, appliances are less likely to break and cheaper to replace. This could mean an extended warranty is an unnecessary cost.
Things to consider
When looking for an extended warranty, you should check:
Is it a service agreement or insurance policy? You will be protected by the FCA if you get an insurance policy.
Is your appliance within the age limit? Cover usually ends when your appliance is more than 8 years old.
Do you have to pay a separate call out charge if you claim? Some insurers do not cover the cost of an engineer coming to assess the damage.
Is new for old replacement cover included? If your appliance is under 3 years old and too expensive to repair, some warranties may replace it.
Is it worth the cost? It may be cheaper to put the money you would spend on a warranty into an instant savings account and use the funds if your appliance breaks.
What can you claim for?
Make sure you know what you can claim for before taking out cover, by checking:
The exclusions: This varies between policies, so check the small print to see what is not covered before you take out cover.
The excess: You will have to pay this every time you claim, so make sure it is affordable.
Claims limit: You may be restricted to how many times you can claim, or how much you can claim for, e.g. £500.
Check the terms and conditions, because some policies end after you claim. This means any premiums you have paid will be lost.
Are you already covered?
Before you buy an appliance warranty, check to see if you already have cover:
Manufacturer's or retailer's warranty: If your appliance is still under guarantee, there is no need to take out separate cover. Manufacturer and retailer guarantees last 1-5 years, so check your purchase receipt to see if you have cover.
Home insurance: You will have some cover for your appliances on your home contents insurance, like fire damage and theft. However, you may not have accidental damage cover or breakdown repair.
Packaged bank account: Some reward accounts come with free 12 month extended warranties. Although most packaged accounts come with a monthly fee, this could be a cheaper way of getting cover for your appliances.
Consumer Rights Act 2015: If your appliance develops a fault within 6 months of you buying it, you are entitled to a full refund from the retailer you bought it from. Here is more about your refund rights.
Section 75: If you bought your appliance with a credit card, and it cost between £100 and £30,000, your card provider must refund you if it is faulty. Here is how Section 75 protects your credit card spending.
How to get cover
If you do not already have cover for your appliances and want the peace of mind of a warranty, you can look for one by using our comparison.
Get as many quotes as possible, so you can compare levels of cover and find the right policy at the cheapest price.