PROF'S POSER - Where's an actuary when you need one?

The other day these bits of paper arrived.

At first I was going to bin them, but then I had a read, and as a consequence of that called up the sender.

You see, our washing machine is at last 10 years old. Still doing a sterling job, bar a few hiccups year on year that have been resolved.

Thing is, I don't recall ever seeing such an insurance before, so they must n=know what they are doing.

The deal is not cheap, coming in at well over £100 a year. But the up side is tempting. They either fix it if...when it dies, or give us a new one.

Now, my main aim is environmental (no, really) in that I like the notion of repair if at all possible (lord knows what the enviROI on a call-out is), but I was also wondering about the numbers.

Being that a new one is around £2-300, does it make any sense to take out such a policy at this stage?