New LCD television how reliable

[Invisible Man]

There is one overriding reason why people should buy lots of insurance - to make sure the company can continue paying my pension.

[geoff]

In message , Tim Lamb writes

And you think that they ever look

apart from the fact that my photo must be 15 years old now

[Clive George]

I think I have on buildings (flood), though in another 10 years I'll be back on the other side, and you still miss the point. We're a small group, the odds of a huge claim are tiny, so the chances are none of us will have had one, but those huge losses are potentially catastrophic so it's still worth covering against them.

[Invisible Man]

The insurance business is far too competitive to charge excessive premiums.

[Invisible Man]

I nearly walked out of somewhere without the computer I wanted because they were so insistent. Trouble is they are desperate to meet warranty sales targets to keep their jobs.

[Andy Burns]

I wondered too, different VAT rules might apply (e.g. retail schemes vs cash&carry schemes) but legally preventing them selling to certain customers? Sounds wrong to me ...

[Peter Duncanson]

I don't know the answer.

However, is it a legal restriction or a commercial restriction?

Is it the major retail chains which decide who should be able to buy at wholesale prices? Those retail chains have considerable purchasing power. They can boycott a supplier (manufacturer or importer) if that business supplies goods to wholesale-price outlets that sell to just anyone.

[Michaelangelo]

When you suffer a devastating burglary, or a fire, or a gas explosion, or storm damage, or flooding, or... you'll find out.

[The Natural Philosopher]

The general rule is to insure against losses that you could never afford to meet. Or are mandated to have.

To repay the loan on a burnt down house you no longer have to live in, is such a loss.

The general rule is that if you can afford to repair replace whatever, and the risk is moderate to high, don't insure.

E.g. my claims are a bit less than my payments, on car insurance, over the years.

But a third party claim against me by a smart lawyer if I cocked up and ruined someone life, would ruin mine. Without insurance.

So third party is always worth it.

[Ivan]

I went there the other day with my daughter (an NHS employee) and SIL to have a look around to see if it was worthwhile joining, you're right about the location, the Avonmouth roundabout system can pose a wee bit of a nightmare for the uninitiated. The general consensus was that by the time VAT had been added, most of the stuff didn't appear to be very much, if any, cheaper than could be bought elsewhere, especially if one is prepared to shop around, I can't honestly say that we were exactly overwhelmed, so in the end we decided not to bother.

[PeterC]

Yup - legalised evasion of payment.

[PeterC]

shirley it should be wash-shine?

[dennis]

You have the wrong company if it needs to stay profitable to continue paying your pension.

[Albert Ross]

Interest??? More like disinterest nowadays :(

The other side of the equation makes up for that to some extent, a new one will be better and cheaper and may use significantly less electric/gas

[Invisible Man]

It is a final salary pension from the insurance company I worked for for

36 years. Fortunately the hole in this scheme is not too big at present and presumably in the unlikely event that the company went bust the govt organised compensation scheme would pay out.

[Albert Ross]

I've made a couple of claims over the years. For one they insisted I had to employ their plumber who came from 50 miles away, charged accordingly then conveniently failed to fill in the correct forms so they wouldn't pay out. Quel surprise.

A different lot paid out no hassle at all

Happened to a place I used to live (after I'd gone, officer!) AFAICR a chip pan fire in a basement flat took out the entire building. It took many years before they finally paid out and the landlord's daughter finally got the place rebuilt. By then it was probably several million. If they'd paid out promptly it would have been significantly less.

In many places the Police are totally disinterested in things like burglaries and will just tell you to claim on your insurance.

Yes cheaper to extend my contents insurance to cover stuff like my photographic gear than buy separate insurance. Sigma lenses that die just out of warranty not covered however.

[Mike Clarke]

Well I doubt if any the major retail chains ever buy from Costco so they won't have much in the way of clout. I suppose it's possible that planning permission issues might sometimes result in this type of rule.

[Mike Clarke]

Well the Leeds one has a bouncer at the door giving the cards a very cursory glance as you go in.

[geoff]

Completely failed to understand, didn't you

The previous posted is saying that rather insuring, put that money away for the interest to buy you a new one when it dies

So ... how much money would you have to put away, OK, lets sat for 5 years as that's the length of the warranty period we're talking about to accrue £400 interest (at what, 2.5%?)

[geoff]

Not if it's beer