Landlord Products / Services
I’m afraid it’s not sexy, but it’s happening.
Landlord White Goods & Appliance insurance is a real and new’ish thing, and it’s one of those niche products that’s becoming more widely available. The sales pitch is generally targeting landlords that don’t live locally to their rental property(ies) and/or if there’s a history of excessive spending on replacing and repairing appliances.
Landlords are responsible for repairing and maintaining appliances (e.g. fridge, freezer, cooker etc) that they provide with the rental property, and that can be costly, which is why appliance insurance exists.
In short, White Goods & Appliance insurance protects appliances throughout your rental property against breakdowns and accidental damage. But is it actually worth it?
Table of contents
- Do you need White Goods & Appliance insurance?
- Who should get Landlord Appliance insurance?
- What products do White Goods & Appliance Insurance cover?
- Biggest concern with White Goods & Appliance insurance cover
- Top tips for buying Landlord Appliance Insurance
- Recommended White Goods & Appliance insurance provider
Do you need White Goods & Appliance insurance?
Absolutely not.
Let’s be clear, appliance insurance is a joke compared to landlord building insurance – it’s no way near as critical. I’d also put Landlord Maintenance & Home Emergency Cover Insurance (which includes boiler cover) ahead in the list of priorities.
The reality is, there are so many insurance products available to landlords these days that it’s economically unviable to snap them all up, so we need to pick our battles depending on our circumstances.
I guess one useful point to bear in mind is that you could *try* it, and then drop it like a bag of hot farts if it doesn’t prove its worth. Ultimately, I believe appliance insurance is nice to have if it makes sense; I can definitely see the value in it, especially for rental properties that come loaded with white goods and appliances, but I can also understand why many landlords are happy to take their chances without.
Who should get Landlord Appliance insurance?
In other words, what kind of landlord does this product most make sense for?
First and foremost, appliance insurance would be as useful as a chocolate teapot for any landlord that provides the bare minimum appliances. In fact, it’s not even designed for those landlords. For example, I have a few rental properties which I only provide a cooker (oven and hobs) and fridge/freezer, so it makes little no sense for me to get appliance cover, in my opinion. The manufacturer’s warranty lasts between 3-5 years on a fridge/freezer, and if it breaks down after that point, it would be more economical to replace it altogether.
Landlord Appliance insurance is designed for landlords that provide a lot of appliances such as fridge freezers, cookers, washing machines, microwaves etc.
However, do not confuse that with a property that is fully furnished! If you already have contents insurance [because you have a fully furnished rental property], then it’s likely your policy already covers white goods along with other furnishings and fittings, and therefore you won’t need a white goods focused insurance policy. So check your existing policy first!
Other points to consider include:
- How much have you spent on repairing and maintaining appliances in the past?
- Are your appliances particularly old and likely to fail?
- Are your appliances under warranty, and if so, What’s covered?
- How many appliances do you provide and What’s the value of them?
- How much of a pain would it be if you had to routinely manage appliance maintenance Vs having someone else manage it (perhaps this is more critical for long-distance landlords)?
- Is the cost worth of the policy worth the hassle it will alleviate?
What products do White Goods & Appliance Insurance cover?
Obviously it will vary depending on the policy, but typically:
- Washing Machine
- Washer / Dryer
- Fridge
- Fridge / Freezer
- Freezer
- Chest Freezer
- Oven Inc Hob and Hood
- Dishwasher
- Tumble Dryer
- Microwave
- Range Cooker
- American Fridge Freezer
that’s not an extensive list, but you get the gist.
It’s important to note that appliance insurance usually doesn’t include boiler cover. I make that point because – as alluded to earlier – I’d argue that having access to heat and water is far more important than a dysfunctional appliance (although, a faulty fridge/freezer can be pretty devastating). Not to mention, from my experience, repairing a broken boiler is usually more unkind to the old bank balance. Basically, I think boiler cover is a essential for landlords if the manufacturer’s warranty has expired.
Top tips for buying Landlord Appliance Insurance
- Read and understand all the terms and conditions in your proposed policy. Often the cheapest isn’t always the best suited for your circumstances, and that’s especially true with insurance!
- Ensure that all of your appliances are covered under the policy.
- Check if your policy requires you to pay an excess fee with any claims, and check the amount. Generally speaking, policies with higher excess fees have a lower premium. A lot of people get caught out with this, and it’s tragic. For example, they get mesmerised by the 1p monthly cost, and then get screwed by the £1million excess fee when they claim.
- Get written confirmation of any discussed details that are not specifically written in your policy, which you feel could come under scrutiny and impact future claims.
- don’t auto-renew insurance policies, it’s usually the most expensive way to renew. Shop around and/or negotiate with your existing provider close to the end of the term.
- Landlord insurance is tax deductible :)
Biggest concern with White Goods & Appliance insurance cover
I recently put the feelers out on Twitter, asking fellow landlords what they thought about appliance cover. There was an overwhelming concern for how slow the call-out times are (based on their experience). By no means was this a conclusive survey, but it is something to bear in mind.
Yes, on one hand, appliance insurance can save landlords money, but on the other hand, it can be irritating for tenants if the repairs take too long.
The responsive rate will ultimately depend on how strong the insurance provider’s “repair network” is, so it’s reasonable to presume that some will be better than others.
Before opting for any particular policy with a specific provider, I would investigate the average call-out time.
White Goods & Appliance insurance provider
I don’t know Row.co.uk from Adam, but they’re a company I came across that offers landlord appliance cover, and they have relatively good TrustPilot reviews. I’m not endorsing them, I’m just sharing an example. Needless to say, do your own due diligence and shop around.
| Supplier | Rating | Details | Price from | |
|---|---|---|---|---|
Supplier | Rating TrustPilot Reviews | Row offers comprehensive insurance policies for a wide range of home appliances, from as little as £1.49 a month!
| Price from *£1.49Per month | More Info |
Please note, I try my best to keep the information of each service up-to-date, but you should read the T&C's from their website for the most up-to-date and accurate information.
Right, that’s all I’ve got for you on this dry-arse subject. But hopefully I’ve been somewhat useful, and helped you decide whether this is something you need in your life… or wish you never wasted your time researching.
Any questions or feedback appreciated. Use the comment form below…
Disclaimer: I'm just a landlord blogger; I'm 100% not qualified to give legal or financial advice. I'm a doofus. Any information I share is my unqualified opinion, and should never be construed as professional legal or financial advice. You should definitely get advice from a qualified professional for any legal or financial matters. For more information, please read my full disclaimer.
