6 benefits of an extended kitchen appliance warranty

Most people believe that their kitchen appliances will simply always work and will never break down. However, as this is clearly not the case, repairing a broken oven or a refrigerator can be very pricey. Not only that, but your appliance can stop working at the worst possible moment, and you may not have the money necessary to repair or replace them at that time. If you want to avoid all that, you may want to consider acquiring an extended kitchen appliance warranty when you purchase your appliances. The benefits of an extended kitchen appliance warranty are numerous, and you can get them from all the most popular home warranty companies. In this article, we will walk you through why it may be in your best interest to get this warranty, as well as how it might save you money in the long run.

What exactly is an extended warranty?

Before we get into the explanation, you may be interested to know about the average kitchen appliance repair costs. For example, the cost to repair a refrigerator starts at around 250$ and can go upwards of $1,000! Most large appliances have a similar repair price tag, in fact. This means that if a few of them break down in a short timeframe, you might be hard-pressed to budget for all of them. Luckily, there is an option that allows you to avoid those problems.

An appliance warranty is a contract you sign with the warranty provider where they guarantee that your appliance will be repaired, replaced, or serviced once it breaks down. You usually get a warranty from the appliance manufacturer but you can get one from a specialized warranty company as well. A manufacturer’s warranty usually comes free of charge whereas other warranties cost a set amount of money.

For small appliances, the warranty “window” is usually around 30 to 90 days, whereas warranties for larger appliances usually last for three years or more. The main takeaway here is that the manufacturers’ warranty usually expires before the appliances break down. This is the main reason why you may want to consider an extended warranty.

Extended kitchen appliance warranty

To put it simply, an extended kitchen appliance warranty will protect your items long after the original warranty has expired. While some manufacturers may offer extended warranties, most of the time you will need to get one from a third party. Extended warranties are usually purchased by acquiring one of the company’s warranty plans. These plans cover any damage that is incurred throughout the appliance’s normal use but they do not cover accidental damage or theft.

There are significant differences among the companies that provide warranty plans, so it literally “pays off” to do some research. For example, if you are relocating from one home to another, you usually want to research and compare moving companies. You want to do the same with the companies that provide extended kitchen appliance warranties. There are opportunities for amazing deals just waiting to be found out! But the benefits of an extended kitchen appliance warranty go further than simply saving you some money in the long run. Let’s explore them.

The benefits of an extended kitchen appliance warranty

1. Ability to customize your coverage
2. Makes it easier to budget your expenses
3. Pure convenience
4. Quick repair service
5. Insurance
6. Savings over time

All of these benefits combine to provide the warranty owner with peace of mind. An extended warranty is, thus, similar to insurance, as it provides the holder with protection against significant financial loss. And all the benefits that may apply to insurance also apply to extended warranties. Let’s take a more in-depth look into the most notable perks of having an extended kitchen appliance warranty.

Customizable coverage

The first great thing about extended warranties is that their coverage is very flexible. You are the one who decides how long you want the coverage to last. You can also customize it to your specific needs. For example, you may want to acquire a broad home warranty that includes all your appliances and other items in your home, or you can simply purchase an extended warranty for your fridge. There are some limitations (there always are) but home warranty companies are usually quite receptive to the wishes of their customers. And you want to take advantage of this. Most of the time, you do not need to settle on a pre-built plan. What you can do is tailor the plan to your specific situation and your unique needs. That way, you get the exact coverage that you need.

Easier budgeting

Another great thing about extended warranties is that you know their cost in advance. This means that it is a lot easier to budget for unexpected expenses. You will also have all the information about any out-of-pocket expenses when you need to file a claim, meaning that you will never face sudden astronomical costs. Knowing exactly how much the repair will cost, regardless of the issue is a godsend for those of us who like to plan our budget to the tiniest detail.

Convenient

Convenience is perhaps one of the greatest benefits of an extended kitchen appliance warranty. The fact that your warranty company handles everything on your account is simply far too convenient to ignore. The company will schedule a technician, source replacement parts, and organize the entire repair/replacement procedure for you. Most companies will also allow you to monitor the status of your claim from the start to finish. You will always be “in the loop”, so to speak.

Repairs are fast and easy

When it comes to actual repairs, warranty companies partner with licensed and insured contractors, meaning that all repairs are handled with speed, efficiency, and safety. Most of the time, your warranty company will be able to dispatch someone within hours of your service claim. This means that you will not be spending your time hunting for someone who can repair your appliance, you can leave the whole matter to the warranty company. And if something goes wrong at any point, it is not your problem so to speak. The warranty company is responsible for ensuring that your appliances are in optimal working order.

You are insured against wear and tear

The fact of the matter is that kitchen appliances deteriorate throughout their use. Every dishwasher cycle degrades the appliance, dries the lubrication, and even slightly warps the internal components. Of course, this degradation does not happen overnight but over a period of several years. But you can count that your appliance will eventually break due to wear and tear.

Wear and tear are not usually covered by homeowner’s insurance and manufacturer’s warranties usually expire before your appliance breaks down. The only option you have to protect yourself from having to replace/repair your kitchen appliances is to acquire an extended home warranty.

An extended kitchen appliance warranty saves you money over time

The basic idea behind any warranty is to safeguard you from a financial loss. An extended warranty is much the same. Over time, the extended kitchen appliance warranty has the potential to save you quite a bit of money on repair costs.

How much do extended kitchen appliance warranties cost?

There are numerous factors that come into “play” when purchasing an extended warranty. The price will depend on where you live, the type of appliances that the warranty covers, as well as your warranty provider, and the type of coverage that you need. But in general, you can expect a warranty for a single appliance to cost you anywhere between $20 and $120 or more. Depending on the appliance, of course. Some more expensive plans even cover accidental damage, as well. It is always best to “shop around” and see what kind of deal you are able to get.

You will also want to carefully read the terms and conditions before you sign a contract. Make it your business to completely understand coverage levels and availability of repair and replacement services. While most companies will offer warranties in good faith, some may want to “trick” their customers. Therefore, it is imperative that you know what you are getting before you get it.

An extended kitchen appliance warranty is not for everyone. Even though there are numerous benefits of an extended kitchen appliance warranty, obtaining one is something that you may want to carefully consider. If you need more information on how home warranties work, simply explore the rest of the Consumer Opinion Guide home warranty section. There, you will find all the top home warranty companies as well as articles that can help you get to an optimal decision. When it comes to warranties, knowledge means money. And we are there to help you save as much money as possible!