A new washing machine, laptop or television? Would you also like insurance? The Consumers’ Association sees that shops are increasingly selling insurance at devices. According to the consumer organization, these insurance policies are “often redundant and misleading.”
The insurance can amount to more than 350 euros for multi-year coverage against damage. Consumers quickly pay hundreds of euros at stores such as Coolblue or Mediamarkt for coverage that they often already have through their home contents insurance or legal warranty.
Fire and water damage, for example, is covered by home contents insurance. People with comprehensive home contents insurance can also receive compensation for other types of damage, such as accidents at home.
If the device breaks down on its own, it is often still covered by the legal warranty. Consumers are entitled to free repairs or a replacement product during the expected lifespan of a device, according to the Consumers’ Association.
The Consumers’ Association recognizes several things in the policy conditions of product insurance that are already covered by the legal guarantee. Such as damage due to factory defects. The organization calls this type of information “misleading”.
Sometimes the purchase insurance policies offer something extra. For example, MediaMarkt, EP, Electro World and Expert also reimburse damage caused by limescale deposits and blockages for large appliances. Insuring smartphones against theft, for example, can also be useful.
Live blog
Economics blog
The sharp price drops in software companies due to a dystopian AI report are reminiscent of the credit crisis
