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#282954 - 2019-02-20 12:13 Benefit of Correct Insurance
Registered: 2003-10-04
Posts: 2,331
spinaltap Offline
Senior Shouting Officer
spinaltap Offline
Senior Shouting Officer

Registered: 2003-10-04
Posts: 2,331
Loc: Bournville, UK
From my recent experience, it’s wise to buy the right kind of domestic appliance insurance...

My 12 year-old Miele under-counter/integrated Oven, after displaying a ‘Code 90’ error, was deemed uneconomic to repair by Domestic & General this week.

Code 90 relates to a faulty air sensor: a £200 replacement cost. However, over 12 years, specifications/standards have changed: the new (£200) air sensor would not be compatible with other components in the Oven. To change these other components so that everything would work together would have cost in the region of £1,500 (!).

Now, here’s a worthwhile nugget of information: if I had British Gas ‘Kitchen Cover’, failed appliances that are over 3 years old only attract a 30% contribution towards an identical replacement.

Fortunately for me, I have Domestic & General ‘Kitchen Cover’. Given that my Oven is 12 years old, I expected only a minimal replacement contribution. Not so. I have been offered a 100% contribution towards a new Miele Oven - ordered by Domestic & General on my behalf, to be delivered directly by Miele. That’s worth £2,200. My contribution? The cost of an electrician (£96) to swap them over.


My Mac can go all the way to XI - Mac user since 1988 - Meridian owner since 1993.

Music: M6, 218, 210, 504, 506.2, AC12, SBT, LMS | B&O H8
Movies: Loewe Bild7.55, ATV4K, B&W PV-1
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#282958 - 2019-02-20 13:56 Re: Benefit of Correct Insurance [Re: spinaltap]
Registered: 2007-10-05
Posts: 265
IanM Offline
Hitchhiker
IanM Offline
Hitchhiker

Registered: 2007-10-05
Posts: 265
Loc: Greenwich, London, UK
My Contents is up for renewal soon, thanks for the reminder to look around rather than take the easy option.


Roon-Mac, Oppo BDP-103, SkyHD, Oracle Delphi/AM Classic 2, Cadenza Blue, Dino/NC, 218, DSP5200SEU, Samsung 49KS7000
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#282961 - 2019-02-20 15:00 Re: Benefit of Correct Insurance [Re: IanM]
Registered: 2003-10-04
Posts: 2,331
spinaltap Offline
Senior Shouting Officer
spinaltap Offline
Senior Shouting Officer

Registered: 2003-10-04
Posts: 2,331
Loc: Bournville, UK
After many years of buying my unlimited house and contents insurance via Marks & Spencer, this year I renewed with Lloyd’s Bank. With them, a similar unlimited buildings and contents insurance policy was a third of the price that I had been paying M&S.


My Mac can go all the way to XI - Mac user since 1988 - Meridian owner since 1993.

Music: M6, 218, 210, 504, 506.2, AC12, SBT, LMS | B&O H8
Movies: Loewe Bild7.55, ATV4K, B&W PV-1
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#282962 - 2019-02-20 15:42 Re: Benefit of Correct Insurance [Re: spinaltap]
Registered: 2011-02-02
Posts: 2,395
Hector Offline
Senior Shouting Officer
Hector Offline
Senior Shouting Officer

Registered: 2011-02-02
Posts: 2,395
Loc: Midlands, UK
If you are insured with Lloyds and get a quote from AN other which is cheaper for the same level of cover, it may be possible to visit your branch and get a reduction on the remainder of monthly payments, before renewal date. I did this and saved 50 quid on the policy period remaining.
Moral: If you don't ask and wait for renewal date, you don't get.


AV: Thorens TD160B, SME, ShureV15MK2, 500, 598, 861v4, DSP7200.1LR, DSP3300HC Samsung UE55, SkyHD.
DINING: MS600, AC200, DSP5200SLLR.
STUDY 504, SB Touch, 2x MD600, C15, 808.6, 5200SE, Mac & PC, Prime+PS Grado GS1000i
HORIZONTAL: M80, MS200, Red Rose Spirit + Sonus Faber Toys
A capella to Zydeco
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#282963 - 2019-02-20 16:03 Re: Benefit of Correct Insurance [Re: spinaltap]
Registered: 2000-12-06
Posts: 210
Gparrington Offline
Hitchhiker
Gparrington Offline
Hitchhiker

Registered: 2000-12-06
Posts: 210
Loc: Durham, UK
I'm always wary of so-called 'unlimited cover' as you'll usually find there are single item limits that are way too small to cover even the cheapest piece of Meridian gear - never mind something like a pair of 8KSE's. Last time I looked (for example) I would have had to claim for my LP-12 as individual items (arm, cartridge, sub-chassis etc) rather than as a whole thing on most of the policies I examined

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#282964 - 2019-02-20 16:20 Re: Benefit of Correct Insurance [Re: Gparrington]
Registered: 2003-10-04
Posts: 2,331
spinaltap Offline
Senior Shouting Officer
spinaltap Offline
Senior Shouting Officer

Registered: 2003-10-04
Posts: 2,331
Loc: Bournville, UK
On my new policy, I can specify any given item above £3.5k (such as my M6’s).


My Mac can go all the way to XI - Mac user since 1988 - Meridian owner since 1993.

Music: M6, 218, 210, 504, 506.2, AC12, SBT, LMS | B&O H8
Movies: Loewe Bild7.55, ATV4K, B&W PV-1
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#283394 - 2019-03-05 11:13 Re: Benefit of Correct Insurance [Re: spinaltap]
Registered: 2011-08-22
Posts: 1,645
Not'arf Offline
Working on the ultimate question
Not'arf Offline
Working on the ultimate question

Registered: 2011-08-22
Posts: 1,645
Loc: Abruzzo, Italy
Originally Posted By spinaltap
From my recent experience, it’s wise to buy the right kind of domestic appliance insurance..
eek eek eek

I strongly dislike insurance & avoid it where humanly possible. It should probably go without saying that the insurance companies make a lot of money from people buying policies; the odds are generally stacked in their favour just as is the case with gambling websites etc. How many policies expire without a claim being made?

Also, it's easy to remember when a nice claim is made & pays out in one's favour, but easy to forget the ones that went unclaimed.

I suppose it's an attitude-to-risk thing, but count me out. whistle


Audio: MC200, G61R SL, HD621, DSP5500, 5500HC, DSP3100. Subs: 2 x REL Gibraltar 2.
Video: JVC X70, Black Diamond Zero Edge screen 129"(2.35).

Meridian owner since 1998
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#283395 - 2019-03-05 11:46 Re: Benefit of Correct Insurance [Re: Not'arf]
Registered: 2003-10-04
Posts: 2,331
spinaltap Offline
Senior Shouting Officer
spinaltap Offline
Senior Shouting Officer

Registered: 2003-10-04
Posts: 2,331
Loc: Bournville, UK
Thus far, in recent years my Kitchen Cover insurance has replaced..

Freestanding Freezer (£1,000),
Integrated Dishwasher (£1,500),
Integrated Oven (£2,200)

Such is inflation, my original appliance purchase prices were significantly less than the above.


My Mac can go all the way to XI - Mac user since 1988 - Meridian owner since 1993.

Music: M6, 218, 210, 504, 506.2, AC12, SBT, LMS | B&O H8
Movies: Loewe Bild7.55, ATV4K, B&W PV-1
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#283412 - 2019-03-05 18:14 Re: Benefit of Correct Insurance [Re: spinaltap]
Registered: 2004-08-07
Posts: 7,816
Ian Offline
President of the Imperial Galactic Government
Ian Offline
President of the Imperial Galactic Government

Registered: 2004-08-07
Posts: 7,816
Loc: Surrey, England, UK
How much have you spent in premiums over what period of time?

It does look like you have done well (probably because insurance policy wasn’t weighted enough for expensive products that didn’t last as long as perhaps they should have), but without knowing premiums paid the payout numbers can’t be seen in context. Ie if you paid £500/yr (plucking number out of air) or 10 years, it’s not such a good deal.


Meridian owner since 1992
Prime & PSU, Focal Elear headphones, roon (ROCK 8Gi5 Nuc), Explorer 1 & 2, F80. 200/203, MC200 and various Sonos.
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#283421 - 2019-03-06 07:01 Re: Benefit of Correct Insurance [Re: Ian]
Registered: 2011-08-22
Posts: 1,645
Not'arf Offline
Working on the ultimate question
Not'arf Offline
Working on the ultimate question

Registered: 2011-08-22
Posts: 1,645
Loc: Abruzzo, Italy
Not only that, but even if you have broken even over recent years (the policies are only designed to replace what's lost I believe), when looked at over what will presumably be decades of policies, you almost certainly won't. Plus, looking at the wider set of policy buyers, they will definitely be heavy losers with the insurance companies equally heavy winners.


Audio: MC200, G61R SL, HD621, DSP5500, 5500HC, DSP3100. Subs: 2 x REL Gibraltar 2.
Video: JVC X70, Black Diamond Zero Edge screen 129"(2.35).

Meridian owner since 1998
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#283427 - 2019-03-06 09:47 Re: Benefit of Correct Insurance [Re: Not'arf]
Registered: 2003-10-04
Posts: 2,331
spinaltap Offline
Senior Shouting Officer
spinaltap Offline
Senior Shouting Officer

Registered: 2003-10-04
Posts: 2,331
Loc: Bournville, UK
A Hotpoint integrated Oven costs £200. Cumulative insurance over time for Hotpoint is uneconomic, and not to be advocated.

By comparison, Miele costs significantly more - though nowhere near expensive as, say, Gaggenau.

My previous experience of owning everything Bosch is that over time they literally fall apart, and that insurance covers only 30% of their replacement compared to 100% for Miele.

One way to look at white goods insurance is that one is effectively saving money over time to replace the product rather than having to unexpectedly find a lump sum all at once.

My money, my choice.


My Mac can go all the way to XI - Mac user since 1988 - Meridian owner since 1993.

Music: M6, 218, 210, 504, 506.2, AC12, SBT, LMS | B&O H8
Movies: Loewe Bild7.55, ATV4K, B&W PV-1
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#286607 - 2019-07-31 15:27 Re: Benefit of Correct Insurance [Re: spinaltap]
Registered: 2003-10-04
Posts: 2,331
spinaltap Offline
Senior Shouting Officer
spinaltap Offline
Senior Shouting Officer

Registered: 2003-10-04
Posts: 2,331
Loc: Bournville, UK
My house is where Coffee Machines come to die! Typically, a B2C machine lasts around 12 months before it breaks down and requires replacement under warranty.

My Miele B2C machine lasted 2.5 years before breaking down: it was stuck on descale mode.

Thank goodness for its 5 year extended warranty. Miele sent out a shipping pack by ParcelForce within a business day of being alerted to the issue. It was duly collected the following day, with repairs completed two days later.

A replacement pump, flow meter, and control valve would otherwise have cost £400.


My Mac can go all the way to XI - Mac user since 1988 - Meridian owner since 1993.

Music: M6, 218, 210, 504, 506.2, AC12, SBT, LMS | B&O H8
Movies: Loewe Bild7.55, ATV4K, B&W PV-1
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