woah woah woah, so you pay £192 a year to cover what, appliance damage? you could buy a new washing machine every year for that much money, how often do new appliances break down, should be guaranteed for at least 2 years.
I used to pay money for boiler cover in the event it goes wrong, but since our boiler is quite old and parts availability is limited, I sacked it in and decided i'd be better off saving up an emergency fund instead, and buying a new one when it breaks.