If you are a forward-thinking homebuyer, you have probably insured your home already. This is undoubtedly a wise choice, considering that home repairs can get really costly. But have you considered purchasing a home appliance insurance policy? If not, you are not the only homeowner who hasn’t insured the appliances. Many individuals assume that the home insurance or the manufacturer’s warranty on the appliances would be enough. However, each of these has its own purpose and so does a home appliance warranty. While it may sound like an unnecessary expense, the insurance can really prove helpful when the time comes.
What exactly is appliance insurance?
As the term hints, a home appliance insurance protects you against the various types of breakdowns and deteriorations of the appliances in your home. You can get the cost of repairs and replacements for most of your systems or devices covered with a home appliance insurance. There are different home appliance insurance policies, which vary in terms of the appliances that they would cover. You would have to choose a policy based on your requirements. Some of the appliances and systems that a home appliance insurance would cover are:
- Refrigerators
- Plumbing systems
- Microwaves
- Dishwashers
- Sprinkler systems
- Septic systems
- Clothes dryer
- Central vacuum
- Air conditioning
Apart from the ones that found mention above, plenty of other appliances receive coverage too. Thus, the right policy can provide you with comprehensive protection for most of your home appliances.
Why should you consider getting a home appliance insurance?
Many of the key home appliances are quite expensive, and repairing or replacing them might put you in a tough situation. Just like any other insurance, an appliance insurance cover would help you cover such expenses. A few reasons why you should consider purchasing a home appliance insurance plan are:
- It is natural that you would budget your expenses and plan ahead. A sudden breakdown of an appliance may leave you unprepared for a repair that you need immediately.
- Delaying the repair or replacement of a major home appliance may lead to severe inconveniences. For instance, you wouldn’t want to be in a situation where your washing machine breaks down and you are unable to have it repaired.
- For an average homeowner, unexpected expenses can be quite a nightmare. However, you would enjoy your peace of mind knowing that you have an insurance cover for your appliances.
- While arranging for repairs, you would not have to settle for poor services due to having a limited budget. An insurance cover would ensure that you can afford quality services.
- The leading home appliance insurance companies offer comprehensive packages. Thus, you would not have to worry about having to purchase too many policies.
Thus, the benefits of having a home appliance insurance are quite greater than what meets the eye initially.
Do you need an appliance insurance if you already have a home appliance warranty?
It is quite normal to assume that the manufacturer’s warranty or the extended warranty would be enough protection for your appliance. While those are certainly helpful, there is nothing wrong with having an additional level of protection. Most appliances come with a warranty period of at least a year, from the manufacturer. You may also purchase an extended warranty from the manufacturer or a third party.
Now, the extended warranty would cover the repair costs for the appliance for a certain period of time. The drawback of a home appliance warranty is that if the appliance does not break down within the warranty period, the warranty would expire and you would not benefit from it. Warranty companies offer extended warranty particularly because they know that the chances of an appliance having a major breakdown within the said period would be lower.
When you purchase a home appliance insurance, it would provide you with a level of protection that would go beyond the extended warranty. Thus, it is logical to have your appliances insured even if they come with a warranty.
Choosing the right appliance warranty plan
You would want to consider several relevant factors carefully while purchasing a home appliance insurance. Ideally, you should go for a plan that would cover all or most of your appliances and would fit into your budget. Also, make sure to choose a reliable insurance company. The right policy from one of the leading companies would really be worth your money.
