Are Appliance Warranties Worth It?
Homeowners purchasing a brand-new appliance can often skip an appliance plan because it has a manufacturer’s warranty, typically protecting it for at least a year.
Homeowners purchasing a brand-new appliance can often skip an appliance plan because it has a manufacturer’s warranty, typically protecting it for at least a year.
For most people, few everyday activities can pass without using at least one appliance. Taking proper care of these appliances tops the list of priorities for every homeowner, but even with every precaution, machines can break down.
If this happens, having an appliance warranty can provide financial protection and peace of mind, as these handy contracts typically offset repair or replacement costs. But are appliance warranties always worth it?
The answer to this question boils down to key factors. So, let’s break down each:
The age of the appliance
Homeowners purchasing a brand-new appliance can often skip an appliance plan because it has a manufacturer’s warranty, typically protecting it for at least a year.
Of course, the opposite applies to older appliances. These machines have higher chances of breaking down, so investing in an appliance warranty can help provide homeowners with peace of mind in case of unexpected repairs. However, remember that older machines may also have coverage limitations or higher premiums.
The reliability of the repair services
Many homeowners already have reliable repair services to whom they can entrust all their home appliances. With an appliance warranty, homeowners might work with unknown, third-party service providers by the warranty company. The issue is these providers aren’t always qualified or vetted to the same standard as those chosen by the homeowners.
Without reassurance about the qualifications and reliability of these third-party providers, the appliance warranty might not be worth the risk.
The wait time
Frequently used repair service providers come with another benefit: dispatching a crew to address the issue as soon as possible. Unfortunately, this doesn’t apply to the team provided by the warranty company.
It can take weeks for these professionals to appear. During this time, homeowners can’t use their appliances. Even worse, they might need to spend money on alternative solutions.
For instance, let’s say the washing machine breaks down. Homeowners will likely have to resort to a laundromat while waiting for their unit to be repaired.
The details of the warranty plan
Sometimes, the answer to whether an appliance warranty is worth it or not depends on the warranty plan itself. For instance, some plans cover multiple appliances simultaneously, making them more cost-effective. At the same time, others can have limitations on the number of repairs and replacements allowed.
Carefully reading the plan should reveal whether it aligns with the homeowner’s expectations and is worth the money.
Weighing options is key
There isn’t a single answer to whether appliance warranties are worth it. It all depends on the specific conditions and needs of each homeowner. However, as a rule of thumb, homeowners with long-term relationships with repair service providers might find less value in appliance warranties, as they introduce multiple uncertainties in the repair process.
Mr Fixer is a fully licensed and insured company providing prompt and efficient installations for all your kitchen and laundry appliances. We guarantee fast response time, quality workmanship, and customer satisfaction.
