| Appliances are major long-term investments for | | | | especially true of appliances. Many people have too |
| homeowners. It can be very frustrating when | | | | many expectations of their home appliances. There |
| essentials like the refrigerator or washer are on the | | | | are average life expectancies that can be assumed |
| fritz. Many people buy home warranties hoping to | | | | when buying a major appliance, but these can vary |
| protect themselves from an expensive home repair | | | | due to frequency of use, maintenance performed, |
| bill, but are warranties really the best way to protect | | | | and brand. |
| your appliances? | | | | Despite the probable inaccuracies, referencing an |
| Though these plans fully cover appliances, they may | | | | estimated lifespan can help in the process of |
| force repairs to be performed on a failing system. In | | | | budgeting for replacements and knowing when |
| this case, the homeowner pays the cost of a | | | | appliances need to be retired will save on costly |
| deductible for a patch instead of a permanent | | | | repairs. Full-size refrigerators have an average life of |
| solution. Homeowners who have a home warranty | | | | 15 years, and compact mini-fridges should last for 5. |
| should be aware of the limitations of their appliances | | | | Washers and dryers are meant to run for an |
| and know when to replace rather than repair. | | | | average of 13 years. Air conditioners, dishwashers, |
| What is a Home Warranty? | | | | microwaves, garbage disposals, and trash compactors |
| A home warranty is an insurance agreement | | | | all have an average life of 10 years. Both gas and |
| purchased by a homeowner that covers the cost of | | | | electric ranges are good for 18 years. |
| repairs and replacement to most of their home's | | | | Other Appliance Warranties |
| mechanical systems. Most will cover the plumbing, air | | | | Both manufacturers and retailers also offer |
| conditioning and heating system, electrical, and all | | | | warranties on products. The terms, coverage, and |
| appliances. The insurer will require a full list of the | | | | cost of these agreements will vary greatly depending |
| make, model, ages, and condition of all of the | | | | on the appliance. Most of the time, a warranty will |
| appliances to covered. Some will adjust the monthly | | | | guarantee free repairs for a certain amount of time. |
| rate of the coverage based on these factors, though | | | | These repairs may be limited to certain systems and |
| many insurers offer flat rates. Most in home repairs | | | | parts. Almost all warranties protect the service |
| will cost the owner an extra deductible. | | | | provider from responsibility if the appliance is misused, |
| Appliance Repair Issues | | | | installed improperly, or is damaged in an accident. |
| When a home warranty goes into effect, all of the | | | | Usually, only problems caused by normal wear and |
| appliances in the home will be covered regardless of | | | | tear or device malfunctions are covered under |
| age. Homeowners with older appliances may have | | | | warranty. These are called a limited warranty. Full |
| received more expensive rates than those with | | | | warranties cover more kinds of repairs. |
| updated ones. | | | | Some of these warranties do not require deductibles, |
| Like any other type of insurance, the company for | | | | but some do. Read the contract and terms of other |
| any reason cited in the contract may dispute the | | | | appliance warranties before claiming a repair on a |
| repair claim. Pre-existing conditions, owner-negligence, | | | | home warranty. It may be more cost effective to |
| and improper maintenance can all be cited as reasons | | | | repair the device using a one of these agreements to |
| to dispute a claim. | | | | avoid the restrictions and deductible associated with |
| Despite these restrictions, the home warranty | | | | a home warranty. |
| company will perform most claimed repairs. | | | | Home Warranties and Appliances |
| Homeowners need to understand however that if an | | | | Choosing the right home warranty can help the resale |
| appliance is older than its intended life span, repairs | | | | value of your house and avoid unexpected expenses. |
| are only temporary fixes. The company will likely fix | | | | Homeowners should remember that sometimes it is a |
| the problem to avoid the cost of replacing the | | | | better option to replace a problem appliance rather |
| appliance. Make sure to carefully read the contract to | | | | than claiming many temporary repairs on a home |
| identify what problems are grounds for replacing an | | | | warranty. Being aware of the limitations of the |
| appliance before agreeing to the warranty. It may be | | | | machines will simplify these choices, so always make |
| wise to replace a machine beforehand in order to | | | | sure to completely read the home warranty contract |
| bring down the monthly rate. | | | | before signing it. Also, make sure to keep |
| Major Appliance Life Expectancies | | | | manufacturer and retail contracts so that full |
| Nothing is made like it used to be. This old adage is | | | | advantage can be taken of other offered warranties. |