On 30 July, 11:48, "Robin" wrote:
A relative buys from Richer Sounds, says good prices and good
warranties. Believe when he buys an extended one he gets money back
if he does not make a claim.

That is not how insurance works.;-)

"It's insurance Jim but not as we know it"?

Richer Sounds have for years now offered "Supercare". * If there's no
claim after 5 years they refund the original payment. *Of course they
have had the use of the money in the meantime (while inflation erodes
its value to the buyer). *I assume they make their profit from that
(much as eg Lloyds underwriters used to).

And I think it is not strictly an insurance scheme: the whole thing is
run by Richer Sounds and they are not regulated by the FSA. *So no
government bail-out if 100,000 TVs go pop
--
Robin
PM may be sent to rbw0{at}hotmail{dot}com

I had that kind of deal from (I think) Currys on my first digital
camera many years ago when they were very expensive. It died within
the 5 years, but by that time it was cheaper to by a secondhand
replacement on eBay. At the end of the 5 years I applied for and got
refund of the "insurance". They didn't send me any reminder that it
was due, and there was a very short time window to claim, so I guess
they win by most people forgetting. I had set up a computer reminder.

Chris