Extended complimentary insurance for goods with Credit card. Has anyone claimed it?

Lausginnygin on 16/01/2014 - 14:13

I'm thinking to buy some white good ( TV/Fridge/Split a/c) for my new home. I know it always better to buy it with a extended warranty to cover any eventualities. But that's at a price . Then i came across the extended warranty offered by the credit card companies which i though its a real deal since i don't have to pay extra to the White good dealer and understand that the fee associated with the credit card (90/p.a) is incurred. But that again any card does have that and its waved off it your purchase good/services more than AUD 20000 in a year which i recon most of us can do if that's your primary card .

Specifically i'm thinking about the westpac card. http://www.westpac.com.au/personal-banking/credit-cards/low-…

http://www.westpac.com.au/docs/pdf/pb/westpac_credit_card_co…

*** from terms and conditions *******
This extended warranty period will be for an equivalent duration
as the Australian warranty up to a maximum of two full years for
Black cards, Platinum Plus cards and Platinum A cards and one
full year for Platinum B credit cards and Gold credit cards and
does not apply if the Australian warranty period is in excess of
five years.

Australian warranty period Extended warranty period:
Six months Six months
Eleven months Eleven months
One to five years Two years
Over five years No cover

Is that wonderful if you get a fridge such a Mitsubishi with 5 year warranty and get a 2 year extended warranty from the credit card. So the question is does anyone has every claimed it successfully after the manufacture warranty expiry.

Financial

Comments

  • [Deactivated] on 16/01/2014 - 15:08

    Generally speaking, most extended warranties offered by credit cards are a 3rd party insurance built into the card - so there will be an excess for every single incident claim…But then again, read the details applicable to your card's circumstances.

    • ausginnygin on 16/01/2014 - 15:25

      for westpac its covered by Zurich , but i don't see any excess build in the terms and conditions !!

  • tonester on 16/01/2014 - 15:54
    +1

    fee associated with the credit card (90/p.a) is incurred.

    none with free-for-life citibank
    https://www.ozbargain.com.au/node/123330

    nor bankwest zero
    https://www.ozbargain.com.au/node/120628#comment-1654117

    :)

  • OSienna on 16/01/2014 - 21:38
    +2

    I recently submitted an extended warranty claim for an appliance bought with my Westpac credit card three years ago and it went through okay (took almost 6 weeks to process though). The requirements were quite onerous and you will need copies of the following:

    • Receipt
    • Warranty T&Cs
    • Bank statement listing item being claimed
    • Quote from an authorised repair centre stating that fault would normally be covered under warranty

    For Westpac cards, there is an excess of $250 for items purchased after 21 Oct 2012 - see page 15 of the Westpac Credit Cards Complimentary Insurance Policy.

    My advice is, make sure you read ALL the fine print as there are numerous terms and conditions that may catch you out.

  • minniethemoocher on 16/01/2014 - 22:21

    I have also claimed years ago with no issue. The paperwork is a bit onerous though. Or buy through Costco, they offer lifetime satisfaction as long as you remain a member, even if you have used the item & it's out of warranty.

  • vocadata on 17/01/2014 - 10:24

    Note that the maximum warranty will only be up to 5 years. In your example, you said a fridge with 5 year warranty plus 2 years free — in this example only the manufacturer's warranty will apply as it is already 5 years. I have claimed with Westpac/Zurich for a stuck pixel on a Dell 27" monitor that occurred 3 weeks outside of Dell's warranty and was given full replacement value ($999 at the time). Also a Samsung combination washer/dryer that was 1 year out of manufacturer's warranty at full repair value ($450). Overall, Zurich's extended warranty process is slow but generally successful (quicker if you can supply all the information up front). I have had more trouble making a successful claim on their travel cover, but that was due to a technicality that was my error.

  • delfredo on 18/01/2014 - 18:02
    +1

    What if you bought the item on your credit card but have since closed your account? In other words, is there a requirement to maintain/keep open your account at time of claim?

    • Geewhizz on 19/01/2014 - 07:08
      -1

      You'd probably have to read through your card's T & C's to be sure on that one. If in doubt after that, call the bank.

    • OSienna on 20/01/2014 - 09:37

      That was the case with me. The claim is still valid as long as you can provide all the necessary documentation.

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