An extended appliance warranty is financial protection that covers individual home appliances after the manufacturer’s warranty has expired. A home warranty is a separate plan that offers bundled coverage for major home systems and appliances. An extended appliance warranty provides coverage for expensive repair and replacement costs of the individual covered item.This type of warranty has become a popular choice for homeowners who want continued coverage of an appliance after a manufacturer’s warranty has expired. Homeowners can buy quality extended warranties from home warranty providers.
Extended Appliance Warranty
An extended appliance warranty provides protection for a specific appliance such as a refrigerator, stove, freezer, etc. They are purchased prior to the expiry of the original manufacturer’s warranty. If a covered appliance breaks down unexpectedly due to normal wear and tear, or age of the unit, the policy enables homeowners to have financial coverage for repair costs at a much lower price per issue, than if they had to fully pay for a repair or replacement. The terms and conditions are similar to those in the original manufacturer’s warranty.
Extended Appliance Warranty Advantages
Most manufacturers offer warranties between one to three years after the purchase date. However, appliances can break down after that period which can be very expensive to repair or replace. Extended warranties are ideal for appliances that are no longer covered by manufacturer’s warranty. Here are some estimates of common household repair and replacement costs without the advantage of home warranty coverage:
Oven/Range/ Cooktop – Up to $1000
Clothes Washer -Up to $675
Dishwasher – Up to $650
Clothes Dryer – Up to $675
To name just a few….
Trusted home warranty providers can offer affordable extended appliance warranties to their customers. Reputable providers will not lock them into a contract so they can keep the policy for as long as they like, as long as they keep paying the monthly premiums. This means homeowners can continue to financially protect their appliance.
Extended appliance warranties are cheaper because the appliance warranty only applies to one specific appliance in the home. This means a separate policy is purchased for a specific appliance. Because these warranties apply to individual appliances, homeowners pay for exactly the coverage they want on the appliance they want covered.
There are home warranty companies that enable customers to ensure their coverage never runs out as long as they remain enrolled in the plan. When buying an extended appliance warranty, you should read the terms and conditions carefully to ensure that you understand the coverage provided. Prices will vary depending on the type of appliance being covered and the warranty provider’s options and terms and conditions. Repair and replacement expenses can be hundreds and even thousands, far surpassing the extended warranty cost. It just makes sense to buy an extended appliance warranty.