In today‘s world we have all become insurance mad, taking out protection plans or being offered extended warrantees for a range of electrical items and various other equipment. No matter what store you purchase your goods from, whether online or in the high street, you can guarantee that somewhere during the purchasing process you will be asked if you wish to take out extra cover.
Where does the necessity for extended warrantees or insurance protection end? Well for most electrical items around the home such as washing machines, TV’s, refrigerators, DVD players and laptops/computers, shoppers can often get caught out with breakdown insurance or accidental cover pushed onto them by the retailer.
The truth behind this is that although the insurance will offer protection, so should your home contents insurance, meaning that you may be paying for something you do not need. In the same light, when purchasing a camera for your holidays for instance, many stores will offer you insurance against damages, including new for old if the product cannot be repaired.
Now this can be beneficial if you drop your camera, break the lens or screen etc. However the insurance will not cover you against theft but then your home or holiday insurance should cover electrical items stolen from the home or abroad whilst on holiday. A choice that is offered but not always needed, always check with existing insurance policies you have before deciding to take additional insurance out on purchases.