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> Any insurance is a conflict of interest. The entity responsible for paying out is the same entity responsible for if/how much you get paid out. What are you

> Any insurance is a conflict of interest. The entity responsible for paying out is the same entity responsible for if/how much you get paid out. What are you on about ? Let me spell out how my appliances insurance policy works: 1. I call $insurance_company and say "my appliance is broken" 2. $insurance_company says "Ok, here's a code, call Miele, give them the code" 3. Miele sends out engineer with parts who fixes the appliance 4. I sign engineer's job sheet. 5. The end. To reiterate: - At no point have I given Miele my credit card. - At no point have I given the Miele engineer my credit card. - At no point have I received a bill from Miele. - At no point have I paid Miele in any way shape or form - $insurance_company has taken care of everything, 100% of everything, every single time.

Clubber 5y ago
You must not live in the US. I see it's a German company, they have much stronger laws governing how they operate. In the US, there are laws, but they are scantly enforced. "Buyer beware." Corruption is gonna crash the insurance industry before too long.
bombela 5y ago
But how much does the insurance cost? Are you positive this insurance, over the years, is cheaper than what you would have paid Miele directly?
- traceroute66 5y ago
  > But how much does the insurance cost? Mine is about 350 a year, but they work out a rate per-appliance and then give a discount on the total, so you can pay more (or less) depending on how many appliances you cover. > Are you positive this insurance, over the years, is cheaper than what you would have paid Miele directly? Absolutely. A Miele call-out will set you back 150 call-out + 100/hour, plus parts on top. Or (if Miele agree) you can pay a "fixed-price" 300 which covers parts and labour (but again, this is subject to Miele's agreement and that agreement is given on a per call-out evaluation). And as I said, one of my Miele appliances is 10+ years old, they've been back a good few times replacing increasingly major parts each time, so now the only thing 10+ years old about it is the external casing ! Even if I bought the "official" Miele parts myself, I value my time at greater than zero ! So its still cheaper than me buying the parts and spending a half a day pulling out appliances and fitting parts. And given the price of new Miele appliances, its not exactly like after 5 years I could afford to replace everything with brand new appliances, since that would cost A LOT more than 350x5.
  - TylerE 5y ago
    Begs the question of why you keep buying Miele. I've had exactly one home appliance failure in the last 10 years - an old fridge that finally died.
  - deleted 5y ago
    [deleted]
  - throwawayboise 5y ago
    And yet, on average, the insurance company must be making a profit on their Miele policies otherwise they would not sell them or would not stay in business. It sounds like you have a lemon appliance and were fortunate that you had the insurance.

Clubber 5y ago

You must not live in the US. I see it's a German company, they have much stronger laws governing how they operate. In the US, there are laws, but they are scantly enforced. "Buyer beware." Corruption is gonna crash the insurance industry before too long.

bombela 5y ago

But how much does the insurance cost? Are you positive this insurance, over the years, is cheaper than what you would have paid Miele directly?

traceroute66 5y ago
> But how much does the insurance cost? Mine is about 350 a year, but they work out a rate per-appliance and then give a discount on the total, so you can pay more (or less) depending on how many appliances you cover. > Are you positive this insurance, over the years, is cheaper than what you would have paid Miele directly? Absolutely. A Miele call-out will set you back 150 call-out + 100/hour, plus parts on top. Or (if Miele agree) you can pay a "fixed-price" 300 which covers parts and labour (but again, this is subject to Miele's agreement and that agreement is given on a per call-out evaluation). And as I said, one of my Miele appliances is 10+ years old, they've been back a good few times replacing increasingly major parts each time, so now the only thing 10+ years old about it is the external casing ! Even if I bought the "official" Miele parts myself, I value my time at greater than zero ! So its still cheaper than me buying the parts and spending a half a day pulling out appliances and fitting parts. And given the price of new Miele appliances, its not exactly like after 5 years I could afford to replace everything with brand new appliances, since that would cost A LOT more than 350x5.
- TylerE 5y ago
  Begs the question of why you keep buying Miele. I've had exactly one home appliance failure in the last 10 years - an old fridge that finally died.
- deleted 5y ago
  [deleted]
- throwawayboise 5y ago
  And yet, on average, the insurance company must be making a profit on their Miele policies otherwise they would not sell them or would not stay in business. It sounds like you have a lemon appliance and were fortunate that you had the insurance.