Do not buy a warranty on a toaster

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Do not buy a warranty on a toaster. Do not insure things you can afford to replace. Solvent insurers necessarily overprice the actual probability of the loss in question: those who do not will not remain solvent, and insurers who do not remain solvent are no good to you.

If you are concerned a £35 toaster might fail then, instead of spending £10 on a three-year warranty, spend £10 on a better toaster. The insurance is predicated on one of the following scenarios being true:

1. The toaster doesn’t actually break.
2. The toaster breaks but:
   1. Forget you bought a warranty
   2. Lost your warranty
   3. Couldn’t be arsed claiming under your warranty.
   4. Could be arsed, until the warranty provider delayed responding to your claim for nine months, then wrongly declined it, then referred you to a premium complaints line, until you couldn’t be arsed carrying on.

This covers 95% of all potential warranty claims on toasters.

See also

• Ignore
• Insurance
• software as a service