Is an electrical appliance insurance cover worth it?

If the wisdom of "appearances deceive" has a truth, then it is most likely true of electrical appliance insurance. Anyone who buys a mobile phone, laptop or any other electronic device should not be impressed by the seller's strong recommendation that the buyer take out device insurance. At this moment, the seller takes advantage of the customer's purchasing situation. they have a commission interest. The customer cannot see the benefits of such device insurance at this moment. The actually obligatory view of the GTC is practically impossible. There are reasons for the criticism. Ultimately, everyone has to make the right decision for themselves.

Advertising and reality in insurance covers

By default, sellers justify their recommendation by saying that the device insurance pays the repair costs if the customer tilts his coffee over the laptop keyboard or the valuable mobile phone is lost. The general terms and conditions of device insurance, on the other hand, have different requirements. It is true that the terms and conditions of the different insurers are partly different, however, they are largely the same in the direction of the target.

Appropriately, reimbursement of costs for repairs caused by "production and material defects, wear and tear, damage due to overvoltage or improper leakage of tap water" is guaranteed. However, these assurances are made in a further clause "We do not provide compensation for ..." mostly largely hollowed out again.

The obligation to pay for the equipment insurance does not exist, as long as the warranty period of the manufacturer or dealer exists. If a device is defective, the customer must make use of the legal warranty of the seller's side. If defects occur within the first six months after the purchase, it is assumed in the customer’s favor that the error was already present at the time of purchase, and the customer does not have to prove the faultiness of the purchase. Six months after the purchase, the burden of proof is reversed at the expense of the customer. Although they can still claim warranty, they must prove that they have purchased a faulty device. The problem is that the proof is problematic and the seller side regularly rejects claims of this kind. In this case, the customer is in a weary obligation to bring his warranty claim in court. He also cannot rely on equipment insurance, as this provides for a disclaimer in this respect.

Calculating risk and benefits

Despite all the critical reviews, there are also fair offers. If a device insurance is offered for an expensive £600 mobile phone for a one-time £30, the premium appears to be beneficial.

If you want to calculate the overall value of the insurance, you should calculate and weigh the risk. If an insurance premium of £12 per quarter is required for a laptop costing £449, the customer will pay a £96 premium in two years. In the first six months, the risk is covered by the manufacturer's warranty. As the warranty period goes beyond that, the risk is manageable even within two years.