If you've just purchased a home, you've probably already realised that one of the best parts is selecting new appliances. When you rent, you’re forced to use the appliances your landlord initially installed. When you own a home, however, you can purchase the appliances you love, no matter whether it’s a double oven, a high tech dishwasher or a washing machine that can handle huge loads of laundry. Unfortunately, though, you never know how long those appliance purchases will last. That’s one reason people look for the best home appliance insurance company online. But what, exactly can home appliance insurance cover and how can it help you?
What Is It?
Home appliance insurance may also be called a home warranty. It’s designed to protect you and your investments. Sometimes you’ll be offered this type of insurance through your home insurance provider, but other times you’ll be able to purchase a completely separate insurance through your provider. You can even purchase it a la carte for other types of unique appliances like swimming pools or hot tubs. Many policies will cover all of the appliances in your home, so whether you're concerned about your washing machine or your television, you'll have the peace of mind you need moving forward.
How Does It Work?
Appliance coverage typically works like this. Imagine, for a moment, your tumble dryer suddenly stops working. With a single call to your insurer, a repair will be scheduled, and in no time, it will be working once again, without any real damage to your pocketbook. While each insurer has a slightly different procedure when an appliance requires repair, the bottom line is that it's easily (and cheaply) fixed with this type of policy.
It’s important to note that like most insurance plans, home appliance insurance doesn’t deal well with pre-existing problems. So, for example, if you have a stove that already has one burner not working, the coverage you obtain likely won't include that particular appliance. Most appliance insurance covers items that break down due to normal wear and tear. There are, however, a number of exclusions that your insurance policy may have so it’s a very good idea to make sure that you fully understand your policy before you sign on any dotted lines. You’ll find that even the best home appliance insurance company has specifications and exclusions. When in doubt, as your insurance agent to help you.
Is It Expensive?
This honestly depends on the type of plan you have and on what you want to have covered. Covering your hot tub, for example, will likely require that you have a more expensive plan than it would if you were just covering your cooker and refrigerator. Items that cost more sometimes have more expensive insurance plans, but that’s one reason to get the insurance. Would you be easily able to replace your sauna if it stopped working? Do you have the cash ready to do so? Most homeowners don’t, and having insurance from the best home appliance insurance company is definitely a way to ensure that you’re able to replace your appliance in the off-chance that something should happen. While you don’t actually require this insurance, it’s = the safest thing to get if you’re concerned about having to pay out of pocket for any replacement appliances.