Best Home Appliance Insurance: Protecting Your Appliances With The Right Coverage

Home appliances are essential in our daily lives. They help us complete household chores and make our lives easier. However, no matter how careful we are, accidents can happen. Appliances can break down or malfunction unexpectedly. Repair and replacement costs can be expensive, and it can be a real headache to deal with unexpected expenses. That’s where home appliance insurance comes in. In this article, we’ll discuss the best home appliance insurance options to help you protect your appliances and gain peace of mind.

What is Home Appliance Insurance?

Home appliance insurance is a type of coverage that protects your appliances from unexpected mechanical breakdowns or damage. It’s different from home warranty programs, which cover multiple components of your home, such as plumbing, electrical, and appliances all under one policy. Home appliance insurance, on the other hand, only covers individual appliances.

With home appliance insurance, you pay a monthly or annual premium. In exchange, the insurance company will either repair or replace your appliance if it breaks down or becomes damaged due to a covered event. This type of insurance can help you save money on repair or replacement costs and give you peace of mind.

Best Home Appliance Insurance Options

There are several home appliance insurance options available in the market. Below, we’ll discuss some of the top providers that offer the best coverage and benefits.

1. American Home Shield

American Home Shield is one of the most popular home warranty providers in the market. They offer various coverage options for different types of home appliances, including refrigerators, washing machines, dryers, and more. One of the benefits of American Home Shield is that they allow you to choose your service fee, which ranges from $75 to $125.

Another advantage of American Home Shield is that they offer a 30-day workmanship guarantee. If they repair or replace an appliance, and the issue reoccurs within 30 days, they’ll fix it again free of charge. American Home Shield’s policies start at $45 per month, making them an affordable option for homeowners.

2. Choice Home Warranty

Choice Home Warranty is another popular provider that offers comprehensive home appliance coverage. They have two plans to choose from: Basic Plan and Total Plan. Basic Plan covers most of the essential home appliances, such as heating, plumbing, and electrical systems. Total Plan covers everything in Basic Plan, plus additional items, such as air conditioning systems and refrigerators.

One of the benefits of Choice Home Warranty is that they have a 24/7 customer service hotline, which is helpful if you have an emergency. They also have a 90-day repair guarantee, meaning if their repair work fails within 90 days, they’ll fix it again for free. Choice Home Warranty’s plans start at $36 per month.

3. First American Home Warranty

First American Home Warranty offers three different plans to choose from: Basic Plan, Premier Plan, and Optional Coverage. Basic Plan covers most of the primary systems and appliances in your home, such as heating and plumbing. Premier Plan covers everything in Basic Plan, plus additional items, such as refrigerators and air conditioning systems. Optional Coverage allows you to add coverage for items not included in either plan.

One of the unique features of First American Home Warranty is that they offer a 30-day wait period before policy coverage starts. This is beneficial if you already have an appliance that needs repair or replacement, as you can sign up for coverage and immediately get it fixed. First American Home Warranty’s plans start at $28 per month.

FAQs About Home Appliance Insurance

1. Is home appliance insurance worth it?

Home appliance insurance can be worth it if you have multiple appliances that are old or have the potential to break down. If an expensive appliance such as a refrigerator or air conditioner breaks down, repair or replacement costs can be high. With home appliance insurance, you can avoid these costs and gain peace of mind.

2. What do home appliance insurance policies cover?

Home appliance insurance policies cover accidental damage and mechanical breakdowns that occur outside of the manufacturer’s warranty. The exact coverage varies depending on the provider and the plan you choose.

3. Can I choose the repair company with home appliance insurance?

Most home appliance insurance policies have a list of approved service providers that you can choose from. Some policies also offer the option to choose your repair company, but this might come with additional costs.

4. Can I cancel home appliance insurance?

Yes, you can cancel home appliance insurance policies. However, you might have to pay a cancellation fee, and you won’t be refunded for any premiums you’ve already paid.

5. Do I need home appliance insurance if I have a manufacturer’s warranty?

Manufacturers’ warranties only last for a limited time and cover specific issues. Home appliance insurance, on the other hand, covers mechanical breakdowns and accidental damage that occur outside the manufacturer’s warranty. If your appliances are old or have a higher chance of breaking down, it might be worth investing in home appliance insurance.

Conclusion

Home appliance insurance offers a cost-effective way to protect your appliances and gain peace of mind. By investing in the right coverage, you can avoid unexpected costs and repair or replace your appliances when needed. Consider the different home appliance insurance options and choose the one that meets your needs and budget. Remember to read contract details carefully and compare policies before purchasing.