Appliance Insurance Companies: Protecting Your Home Goods

As technology advances, so does our reliance on home appliances. From washing machines to refrigerators, these devices play a significant role in our daily lives. But what happens when one of these appliances breaks down unexpectedly?

Fortunately, there are appliance insurance companies that can help protect your investment. In this article, we’ll discuss what appliance insurance is, how it works, and some of the top companies offering this service.

What is Appliance Insurance?

Appliance insurance, also known as appliance protection plans or home warranty, are contracts that cover the repair or replacement costs of your home appliances. These plans typically cover appliances such as refrigerators, dishwashers, ovens, and air conditioning units.

The way these plans work is that you pay a monthly or annual premium, and if an appliance breaks down, the insurance company will send out a technician to repair or replace the item. In some cases, you may have to pay a small deductible fee.

How is Appliance Insurance Different from Homeowners Insurance?

While homeowners insurance covers damage caused by natural disasters or theft, it does not cover normal wear and tear on your appliances. Appliance insurance, on the other hand, specifically covers the repair or replacement costs of your home appliances.

Think of it this way – if your refrigerator breaks down due to a fire, your homeowners insurance will cover the damage caused by the fire, but not the cost of repairing or replacing the refrigerator. This is where appliance insurance comes in.

Top Appliance Insurance Companies

There are many appliance insurance companies on the market, but here are some of the most popular options:

Company Name	Monthly Cost	Coverage
American Home Shield	$50-$60	Most home appliances and systems
Choice Home Warranty	$36-$44	Most home appliances and systems
First American Home Warranty	$28-$42	Most home appliances and systems
Old Republic Home Protection	$22-$30	Most home appliances and systems
HomeServe USA	$10-$40	Most home appliances and systems

American Home Shield

American Home Shield is one of the most well-known appliance insurance companies on the market. They offer comprehensive coverage for a variety of appliances and systems, including plumbing, electrical, and HVAC. Their plans range from $50-$60 per month, and they have a network of over 15,000 certified technicians.

One downside to American Home Shield is that they have a reputation for slow response times, which can be frustrating if you have an urgent repair need.

Choice Home Warranty

Choice Home Warranty is another popular option for appliance insurance. They offer coverage for most appliances and systems, and their plans range from $36-$44 per month. They also have a network of over 15,000 certified technicians, and they offer a 90-day workmanship guarantee.

One downside to Choice Home Warranty is that they have a reputation for denying claims, so it’s important to read the fine print of your contract carefully.

First American Home Warranty

First American Home Warranty offers coverage for most appliances and systems, and their plans range from $28-$42 per month. They are known for their excellent customer service, and they have a network of over 17,000 certified technicians.

One downside to First American Home Warranty is that their coverage limits are lower than some other companies, so it’s important to make sure the plan you choose covers all the appliances and systems you need.

Old Republic Home Protection

Old Republic Home Protection offers comprehensive coverage for a variety of appliances and systems, including plumbing, electrical, and HVAC. Their plans range from $22-$30 per month, and they have a network of over 14,000 certified technicians.

One downside to Old Republic Home Protection is that their website is not very user-friendly, so it can be difficult to find information about their plans and coverage.

HomeServe USA

HomeServe USA offers coverage for most appliances and systems, and their plans range from $10-$40 per month. They have a network of over 1,600 certified technicians, and they offer round-the-clock customer service.

One downside to HomeServe USA is that their coverage limits are lower than some other companies, so it’s important to make sure the plan you choose covers all the appliances and systems you need.

FAQ

Is appliance insurance worth it?

Whether or not appliance insurance is worth it depends on your individual circumstances. If you have older appliances or live in an area with frequent power outages, appliance insurance can provide peace of mind and save you money in the long run. However, if your appliances are newer and have a warranty, or if you’re handy and can fix minor issues yourself, appliance insurance may not be necessary.

What do appliance insurance plans typically cover?

Most appliance insurance plans cover the repair or replacement costs of home appliances such as refrigerators, dishwashers, ovens, and air conditioning units. Some plans may also cover home systems such as plumbing, electrical, and HVAC.

What’s the difference between appliance insurance and a manufacturer’s warranty?

Manufacturer’s warranties typically only cover defects in materials or workmanship for a limited period of time. Appliance insurance, on the other hand, covers normal wear and tear on your appliances and provides coverage for a longer period of time.

Are there any exclusions or limitations to appliance insurance?

Yes – most appliance insurance plans have exclusions and limitations on what they will cover. For example, they may not cover pre-existing conditions or damage caused by improper use or maintenance. It’s important to read the fine print of your plan carefully to understand what is and is not covered.

How do I choose the best appliance insurance plan for me?

When choosing an appliance insurance plan, it’s important to consider factors such as cost, coverage, and customer service. Look for a plan that covers the appliances and systems you need, has a network of certified technicians in your area, and offers responsive customer service. It’s also a good idea to read reviews and get recommendations from friends and family.

Conclusion

Appliance insurance can be a valuable investment for protecting your home appliances and saving you money on unexpected repair costs. There are many options on the market, so it’s important to do your research and choose a plan that fits your individual needs and budget. By taking the time to choose the right appliance insurance plan, you can have peace of mind knowing that your appliances are protected.