Should You Buy a Warranty on Appliances? Pros and Cons

For upon |If you have appliances in your home, you must keep them in a good condition if you don’t want the stress of dealing with a malfunctioning appliance. One way to make sure that your appliances are well taken care of is by purchasing a warranty for them.

However, although warranties are important for easy maintenance of your appliances, they are not ideal for everyone. So, if you’ve been thinking of buying a warranty on appliances, you need to understand the pros and cons of this option before making your decision.

This post highlights the benefits and drawbacks of purchasing a warranty for your appliances.

Pros

It will give you peace of mind

A warranty on your appliances serves the same purpose as your insurance policy—it gives you peace of mind. So, how do you get peace of mind by having a warranty on your appliances? Most people who buy warranties for their appliances do so when they buy an expensive appliance. Now, if this appliance breaks down or fails to operate within a certain period, the warranty protects you from incurring an unanticipated financial loss. You can get repairs for free or at a discounted price if the damage is covered by the warranty. Also, you can get a replacement if the appliance cannot be repaired.

Saves you valuable time

As the old saying goes “time is money” and buying a warranty for your appliances saves you valuable time. Appliance breakdowns tend to have at the most unexpected times—which is very inconvenient. And looking for a reputable appliance repair technician can be very stressful. However, this isn’t the case if your appliances have warranty coverage—you’ll know who to contact. According to the technicians at Hartman’s Appliance Repair, Jacksonville, most warranties provide 24/7 services, meaning you’ll not have to wait for long. Also, you will have access to experienced and independent appliance repair technicians to repair your appliance.

Extra protection

While a warranty on your appliances serves the same purpose as your insurance cover, it’s a compliment to the insurance cover. Unlike an insurance cover, a warranty acts as a service contract, and it covers valuable appliances in your home in the invent they break down because of normal wear and tear or manufacturer’s defect. Besides, a warranty covers appliances not covered by your insurance policy. However, you should note that although a warranty on your appliances complements your home insurance policy, it’s not a substitute for it.

Saves you money

Now, in case you have an issue with any appliance in your home, you’ll need to contact your local technician if you don’t have a warranty. Unfortunately, most technicians will charge you if they come to your home to inspect the appliance. Besides, you’ll be responsible to pay for the replacement or repair costs.

However, this will not be the case if you buy a warranty for your appliances. While some people consider these warranties to be costly, they are very affordable. The average annual premiums range from $300 – $500. This is far cheaper compared to hiring a local technician, since you will be spending a minimum of $100 per call, and this doesn’t include the repair costs.

The warranty may be free

If you are purchasing a new appliance, you might get a free warranty for the first year. This has become very common, where major brands include a free warranty for new appliances to attract new buyers, as well as boost their confidence.

Cons

Although there are many benefits of buying a warranty for your appliances, you need to be aware of the drawbacks that come with this option. Additionally, you will need to carefully maintain your appliances, and for some people, the costs of the warranty can outweigh the benefits. The following are the drawbacks of purchasing a warranty for your appliances.

You might not need it

If your appliances are still new, (not more than 5 years old) or in good condition, you’ll realize that you don’t have any claims to file. Having no appliance repairs to make for an entire year is something every homeowner looks forward to. However, this can make you feel like you’ve wasted money on your warranty.

The warranty doesn’t cover broken appliances

Buying a warranty on appliances doesn’t cover appliances with pre-existing conditions, like broken or poorly maintained appliances. Therefore, you need to think twice if you are expecting to get all of your old, as well as broken appliances fixed or replaced by your new appliance warranty. Generally, you’ll be needed to share your home inspection report to prove that all your appliances are in a good condition and functioning properly before purchasing the warranty.

You cannot choose an appliance repair technician

Your appliance warranty service providers chooses the appliance repair company—and this limits your options to select a preferred technician. The service provider will send you to a company that they trust to get the job done correctly. That means, you cannot contact your favorite appliance repair technician—rather, you’ll be referred to a technician who’s been thoroughly vetted and reviewed by the appliance warranty company.