Consumer product insurance

  Quickbeam 11:55 03 Nov 10

is something that I never bother with as I think it's cheaper to take the risk and stand the cost yourself... until the month comes (this last October weekend) when the mower motor burns out halfway through the front lawn on the last cut of the year, the oven conks out, I fit a new element and it was the thermostat, the halogen oven element then fails due to the extra use over the weekend and it's cheaper to replace the whole unit than order a new element!

That's a total of £160, I was luck in that mowers are in the sale will 30% off. I still think it was cheaper than buying all the product insurances.

  spuds 13:23 03 Nov 10

Wait a bit longer and the mower might be 50/70% off, because the store wants the space for the festive seasons items.

Bit like the other day, I was in Argos when I was asked if I wanted their insurance. The item was less than £10.00 and I had a 12 month warranty, which covers the product and usage fine. So no thank you.

  morddwyd 20:35 03 Nov 10

Put the premium, whether a lump sum or Direct Debit, into an instant access ISA.

That way you get the interest on it (tax free) and not the retailer, and if it lasts the normal time you have a good start towards a replacement.

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