Originally Posted by Nigel Goodwin:
“
Richer Sounds don't charge anything like that amount (just 10%?)”
Because Richer Sounds' warranties are NOT underwritten by an insurer.
Whereas those from the likes of Currys, Argos, Tesco etc are.
So, even if the retailer goes bust, you're still covered.
And because RS is not a PLC, you can't access their financial position on-line unless you pay Companies House to download their end of year accounts to see how viable they are in the medium-long term.
There was a lot of fuss about un-insured warranties about 15 years ago when a number of companies - Tempo, Tiny, Time, Escom spring to mind - went under leaving customers with worthless warranties.
IMO it's time that the law was changed so that every warranty on an electrical item was shown to be underwritten independently of the seller.