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Forum
-> Household Management
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amother
Fuchsia
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 Thu, Aug 24 2017, 1:25 am
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I am remodeling my kitchen and getting all new appliances. Do I need insurance to cover any repairs that might be necessary in the next 5 yrs? Is it worth spending $150 per appliance ?
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Raisin
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Thu, Aug 24 2017, 6:49 am
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Yes, it is definitely worth it.
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allthingsblue
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Thu, Aug 24 2017, 7:03 am
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Warranty? Yes it's worthit
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ra_mom
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Thu, Aug 24 2017, 7:07 am
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You bet. Purchase the warranty from the brand itself, not a third party.
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salt
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Thu, Aug 24 2017, 7:11 am
I find usually the warranty does not cover what breaks, or things break just after the warranty runs out.
Why not save the same amount of money aside each month, and pay for someone to come and fix if something needs fixing. If it doesn't break, you've not lost the money.
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Amarante
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Thu, Aug 24 2017, 8:56 am
Most money savvy advice says it's not worth it.
I have never had a breakdown of an appliance within the first few years. If I had a repair, I could well afforded the rapair cost.
If you buy a highly rated appliance, the odds of it breaking down within five years are minimal. The odds of your needing $1000 in repairs is almost non existent.
Take the money and put it in a bank account. Odds are you would never have to use it.
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amother
Fuchsia
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Thu, Aug 24 2017, 9:31 am
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$150 covers a total of 6 yr warranty per appliance
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asmileaday
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Thu, Aug 24 2017, 11:01 am
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From personal experience NOT WORTH IT.
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amother
Lavender
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Thu, Aug 24 2017, 11:09 am
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Considering that the company makes money by selling the insurance, it must mean it's not worth it. Simply put, if you pay $600 to insure 4 appliances for 5 years, the most likely outcome is that in 5 years from now you will say that you would not have spent $600 in repairs and therefore the insurance wasn't worth it. As a general rule, insurance is never worth it.
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