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