The Pros Of Home Appliance Extended Warranty

When you buy a new appliance, it typically comes with a manufacturer warranty that lasts for a limited time. An extended warranty can protect you from repair costs after that period ends. Also known as an appliance protection plan or a home appliance insurance policy, an extended warranty offers bundled coverage for major appliances like refrigerators, ovens, dishwashers and clothes washers and dryers.

Manufacturer’s Warranty

Most appliances come with a manufacturer’s warranty that covers repair, service and replacement for a period of time after the original purchase. This type of warranty is typically included in the price of a new appliance, but may be offered separately for an additional cost by some stores. Appliance Extended Warranty are a $40 billion business, and nearly two-thirds of electronics shoppers and nearly half of all appliance purchasers say an associate at their store has tried to sell them one. While a warranty can offer a peace of mind, they often come with very narrow coverage, primarily covering breakdowns due to manufacturing defects.

A warranty can also require adherence to a specific maintenance schedule or use specific service providers in order to keep the warranty active. This can be an inconvenience, and it may make the warranty less useful. However, an extended warranty can provide a number of extras like 24/7 support and in-home repair services by experienced technicians.

Additional Perks

The cost of home appliance warranties vary, and many offer additional perks. For example, CPS Central offers flexible plans and a transferable warranty that will add value to a home when it’s time to sell. Regardless of the plan you choose, a quality home appliance warranty company will maintain a partner network of repair technicians to minimize service delays. If you register your new appliances within a few days of purchase, the manufacturer’s warranty will keep a database of registered products and make it much easier to bypass the receipt verification process when calling for in-warranty service. Cosmetic repairs, such as scratches on doors, may also be covered.

If you want to save the hassle of keeping track of individual device warranties, receipts and expiration dates, look for a policy that covers multiple appliances for one monthly fee. American Home Shield, for instance, offers a combo policy that includes 23 appliances and systems for around $70 per month.

Deductibles

Home appliance warranties cover the cost of repairing or replacing major appliances like your refrigerator, dishwasher and washer/dryer. Once you file a claim with your appliance warranty company, they will assign a contractor to come out and diagnose the problem. Depending on the severity of the repair and your plan’s coverage limit, your service provider may choose to either fix or replace the item. Whether your fridge stops working during a cold winter night or your water heater gives out in the middle of a hot summer, these technical problems can be expensive and disruptive to your household. However, for an affordable monthly fee, home appliance insurance turns these repairs into manageable expenses.

If you’re looking for an extended warranty on a specific appliance, compare plans from multiple providers to find the best value. Look for a plan that offers comprehensive coverage, short service wait times and affordable premiums and deductibles. You might be surprised to learn that top home appliance warranty companies, like Upsie, provide these perks at a much lower price than Walmart and Best Buy.

Exclusions

Purchasing an extended warranty for appliances can help cover costs when something goes wrong with a major appliance. These home appliance protection plans are often offered by retailers, though you can also find third-party providers. Typically, these warranties provide coverage for large appliances like refrigerators, washers and dryers, ovens or stoves, dishwashers, built-in microwaves, water heaters and HVAC units.

Be aware that a warranty may exclude certain things. For example, if you fail to follow the manufacturer’s recommended maintenance schedule, this could void the warranty. Some warranties may also require you to use only specific service providers for repairs or maintenance, which can be inconvenient. It’s important to consider all of the pros and cons before deciding whether an extended appliance warranty or home appliance insurance plan is right for you. In addition, it’s wise to check if your credit card already provides extended coverage for the same items. If so, it might be worth skipping the warranty and saving that money for a rainy day.

Conclusion

Most major appliances come with a manufacturer warranty. Some retailers, like Lowe’s and Best Buy, offer an appliance extended warranty that enhances the coverage once the manufacturer’s warranty ends. This kind of protection plan typically includes a flat up-front cost and several plans to choose from. It may be worth considering for peace of mind if you cannot afford to pay for repair costs out of pocket.