Home appliances can be costly. Whether you are investing in a refrigerator, oven, or dishwasher, you would hope that these appliances would last for many years to come. We understand that it can be distressing to have your home appliances break down early. But luckily, there are options available to repair or replace appliances instead of having to purchase a brand new one.
Here are the various home warranties that cover your appliances at home. Do take note that these warranties are only applicable if you have been using the appliances in the proper manner.
HOME WARRANTY
Home warranties are usually bought together with older houses but can be extremely useful with newer homes as well, particularly if you move in with your current appliances. Home warranties do include repairs for large expenses such as plumbing and electrical repairs, as well as your existing home appliances.
If the purchase of the house you are interested in does not come with a home warranty, do request for it. Although you can purchase it yourself, the seller typically covers the cost of the warranty.
MANUFACTURER’S WARRANTY
This is an important warranty when choosing home appliances. This is a basic agreement given by the manufacturer of the appliance to guarantee the usage of the product for a specified period of time, typically one or two years. If the appliance suffers from any mechanical issues other than normal wear and tear within this period, the company will bear the cost of repairing or replacing the appliance. Although there are some warranties that only cover certain parts of the appliance, a majority of them are fairly comprehensive.
All manufacturers’ warranties need your original receipt as proof to provide service, so make sure to keep that importance piece of paper. Generally, customers do not pay for the manufacturer warranty and no cost is required to repair or replace the appliance.
HOME APPLIANCE WARRANTY
A home appliance warranty works similar to a manufacturer’s warranty. The only difference is that you purchase it from a separate company and not the manufacturer. These home appliance warranties cover the cost of repairs after the manufacturer warranty has expired. It will pay for almost all or at least a portion of the repairs if there is a breakdown of the appliance. Furthermore, this saves you time to look for a professional repairperson. Home appliance warranties typically cost around 15 percent of the price you paid for the appliance and last for a specific period of time.
Home appliance warranties are also known as service contracts, home maintenance plans, or appliance protection plans. You can purchase them at the point of purchase of your new appliance or within a year of buying one. Whether you are getting a warranty for the oven or freezer, ask for more details from the salesperson at the point of purchase.
EXTENDED WARRANTY
The salesperson will usually give you the choice to add an extended warranty when you buy an appliance. As the name suggests, this is a warranty that extends the manufacturer’s warranty. You can either buy this warranty at the point of purchase or when your manufacturer’s warranty is nearing to the end. As retailers do earn as much as a 50 percent profit on an extended warranty on average, be careful when a salesperson tries to pressurize you to purchase one. If you have any queries, feel free to reach out to the retailer for more information or advice.
