Question Insurance for breakdown?

Discussion in 'AV Receivers & Amplifiers' started by canada16, Apr 15, 2019 at 3:05 PM.

  1. canada16

    canada16
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    Hey, I was wondering if anyone has taken out extra cover for their Audio Equipment.

    My Amp is worth something like £2000.00 and would not be able to afford another if it broke down.

    Obviously my contents insurance does not cover wear and tear breakdown.

    Has anyone taken out cover for your audio equipment, if so who with and whats roughly the monthly cost?

    Thanks
     
  2. MacVee

    MacVee
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    I'd think you'd need to be looking at a warranty product more than insurance itself. Just like you I don't think my home contents would cover actual mechanical or electrical breakdown of a product, just accidental damage.

    If the manufacturer or retailer extended warranty has expired you could possibly look to a third party to see if they will cover it.
     
  3. canada16

    canada16
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    Yeah, like a warranty type thing.
    My warranty has expired on my Yamaha A3050.

    I know they cover stuff like this, but unsure who, good service and prices. Would be worth £10.00 a month, 120.00 a year for a £2000.00 amp would be well worth it.
     
  4. dante01

    dante01
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    You'd be hard pushed to be able to extend a warranty or buy a third party extended warranty after you've actually purchased goods. Your home insurance ordinarily requires you to extend your premium to cover items that cost you more than £1,000 and will not cover you for replacement unless accidentally damaged or stolen. Such items need to be declared to the insurance company and listed on your policy and usually mran an increase in your premium. There may be other factors specific to your home insurance policy?
     
    Last edited: Apr 15, 2019 at 5:12 PM
  5. canada16

    canada16
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    Yeah my speakers and amp is covered under contents, but I have seen insurance for accident damage and breakdown, I thought insure my bubble or something offered insurance for gadgets?
     
  6. dante01

    dante01
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    You'd need to ask your insurer and they may require an additional premium if wanting a more bespoke policy?

    If not written on your policy then don't expect the poicy to cover you for it.
     
    Last edited: Apr 15, 2019 at 6:24 PM
  7. Siamese Cat

    Siamese Cat
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    Say the amp broke down after 3 years...At £120 a year you would have paid £360, that would be enough to cover a very expensive repair. I know it's an old argument but my own rule is to never buy expensive insurance/warranties. You'll almost always save money.
     
  8. canada16

    canada16
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    I suppose your right, I cant see a repair costing more than 400.00
    Thanks
     
  9. Siamese Cat

    Siamese Cat
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    Plus..what's the chance that you'll ever need a repair for something inherently reliable like an amplifier?
    One in ten?
    Better?
    Probably not significantly worse.
    These warranties are very profitable for the suppliers which is why they are so keen to sell them
     
  10. ChuckMountain

    ChuckMountain
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    It very much depends on the provider, a number of policies don't need to list items below 2,000 or even 5k depending.
     
  11. canada16

    canada16
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    My £900.00 onkyo went dead after 26 months, they refused to do anything. Amps of yesteryear are built to last. These days with all the electrics they are more likely to fail.
     
  12. ChuckMountain

    ChuckMountain
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    Who did you approach out it. Under the CRA or Sales of Goods Act depending on when you bought it you have some comeback. However this is with the retailer and they will often try to fob you off.
     
  13. canada16

    canada16
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    It was with Onkyo direct. I did not speak to the retailer.
    I was aware of the EU rules, I think it says reasonable time or something about 6 years.
    Anyway, it was an excuse for me to buy a lot better amp ha ha
     
  14. ChuckMountain

    ChuckMountain
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    Fair enough but the EU rules are 2 years the UK laws are potentially stronger ... :) Something to consider if the new more expensive amp broken down between 2 and 3 years.
     

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