There are household appliances that have a relatively stable price on the market, such as washing machines, dishwashers, ovens or refrigerators. These electrical appliances are also among the higher-priced purchases that have to be made in the context of kitchen fit-outs.
And once such a device breaks down, needs to be repaired or even completely replaced, it can rarely be financed from the household coffers. There are only two ways to respond to the danger of failing electrical appliances at any time:
- You form a reserve of money
- You take out an electrical appliance insurance
The disadvantage of a money reserve is that even if one has saved such a reserve over several years, in extreme cases, if several devices break down at the same time, it may not be sufficient. Here, insurance gives the certainty that you are on the safe side at all times.
Electrical appliance insurance – household insurance of the most valuable variety
Electrical appliances insurance is an insurance that usually covers all household electrical appliances, including antennas, hot water electric boilers and entertainment equipment such as computers or televisions. Commercial electrical appliances are not generally included by the insurance, such as mobile phones, tablet PCs, laptops or notebooks, navigation devices, cameras, digital and video cameras, MP3 players and other portable entertainment devices such as portable DVD players, CD players or similar devices. These can either be covered by separate insurance, such as mobile phone insurance, or can be included in the scope of insurance for an additional contribution by some providers of electrical appliance insurance. In the case of partial commercial use of telephones, computers, fax machines or similar communication devices, additional insurance can often be taken out with the electrical appliance insurer.
Which claims are regularly covered?
Insurance includes cases of operating errors, ineptitude, negligence or malice. Damage caused by a lightning strike is also assumed, whether it was a direct lightning strike or indirect damage caused by lightning, should be secondary. Material or manufacturing defects after expiry of the statutory warranty and warranty periods are also fully covered. Damage caused by mechanical force is taken into account, as well as damage caused by water damage, frost damage, and damage caused by fire or an explosion. Burglary, theft and robbery are also part of the insurance cover, and glass breakage on electrical appliances is ultimately also insured here.
Electrical appliance insurance is one of the types of insurance that, as helpful as it may be, can also hide a lot of cliffs and pitfalls in the insurance policies. There are so many things to look out for when taking out this insurance. Here are a few general terms.
Household appliance insurance – critical voices on the market
As with electrical insurance, and with many other household insurance policies, there are critical voices. In some cases, standard insurance policies on the market are considered too expensive, especially in view of the fact that in most insurance policies a deductible is agreed in order to reduce insurance premiums to a small extent. This opinion can be agreed, which would take us back to the question at the beginning of the article of whether a money reserve or insurance is best. The fact is, however, that such insurance protects from day one, while you have to save a reserve first. Moreover, the allegation that the market is overpriced is only conditional. Those who take the necessary time to seriously compare the available offers will find the right offer for themselves and therefore, certainty for themselves and their financial plans. They guard against the hefty, sudden costs that can occur to procure new appliances or repairs of electrical appliances.