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January 30, 2024

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    Your appliances are some of the most expensive (and essential) components of your home, so you can’t afford for them to break down.

    That’s why you may be interested in an appliance extended warranty. While some scammers might try to trick you into buying one when you don’t need it, they are a legitimate protection plan when you buy a new appliance.

    Put simply, an appliance extended warranty is a service contract that offers additional coverage for a specific appliance you buy beyond the standard manufacturer’s warranty. In some cases, they are a good investment to protect your wallet and your peace of mind. But in others, they’re not a good deal – it all depends on the specific warranty.

    In this article, I’ll show you how to determine whether your new appliance’s extended warranty is worth it or not. But I find that extended warranties are generally not worth the cost.

    Instead, I recommend that you buy a home warranty plan instead. The best home warranty plans will cover all of your appliances for roughly the same amount of money you’d pay for an extended warranty that covers just one.

    What Is an Appliance Extended Warranty?

    Most appliances you buy come with some sort of manufacturer’s warranty. These policies provide a free repair or replacement if there is something wrong with the machine immediately after you install it. Often, they’ll last for about a year.

    Appliance extended warranties are different. These types of plans are usually offered by a third-party company or retailer and are purchased separately from the appliance itself. For a fee, they extend the length of time you can get a free or low-cost repair or replacement for your new appliance. In most cases, when the manufacturer’s warranty period expires, your optional extended warranty goes into effect.

    While similar in some respects, an appliance extended warranty is not the same as a home warranty plan. Most home warranty plans will help cover the cost of repairing or replacing your appliances if they break down due to normal wear and tear. They typically cover appliances of any age, and aren’t tied to the date you bought them.

    A homeowner can purchase a home warranty plan at any time, no matter when they purchased the appliances. This is different from an appliance extended warranty, which you’ll generally need to buy upfront when purchasing the appliance.

    Another key difference: Most home warranty providers will cover a large number of appliances under one plan, while an extended warranty typically covers just one.

    What Are the Pros and Cons of Appliance Extended Warranties?

    While appliance extended warranties can help you feel better about buying an expensive machine, you’ll need to be prepared to purchase it within a specific period — and understand the plan’s limitations.

    Pros of Extended Appliance Warranties

    Longer coverage: Today’s appliances are especially expensive. For example, a new washing machine may cost up to $3,000, leaving homeowners with little budget or credit space to cover the cost of repairs or even replacements if it were to break down.

    The primary advantage of an extended warranty is the extra coverage it provides beyond the manufacturer’s warranty. It offers protection against unexpected failures that may occur after the original warranty period expires. This means that you have a longer period of time to replenish your household emergency fund or pay off credit card debt before you become responsible for repair bills.

    Convenience: With an extended warranty, the warranty provider typically handles the repair process. This might include multiple time-consuming steps like arranging for part replacements and coordinating with authorized service centers qualified to provide safe and efficient repairs. This can save time and effort for you as the owner, as you aren’t alone in navigating the repair process.

    Affordability: Extended appliance warranties may cost only a few dollars a month but extend coverage for up to three years. This can be ideal if you’re looking for a cheap way to protect only one appliance investment rather than investing in an entire home warranty policy.

    Cons of Extended Appliance Warranties

    Limited usage: When most people look for home appliance warranties, they’re looking for protection against breakdowns. New appliances are the least likely to need a repair, meaning that you’re more likely to be paying for coverage you don’t need.

    Conditions on when you can purchase: You’ll usually need to purchase an extended warranty upfront at the time you buy the appliance. Depending on the type of appliance you want to protect and the date you bought it, you might not qualify to buy this type of plan.

    Exclusions and conditions: Extended warranties often have specific terms, conditions, and exclusions that limit when you can use coverage. Certain issues may not be covered, or there may be limitations on the types of repairs or replacements provided. It’s crucial to carefully review the warranty’s terms to understand what’s covered and what isn’t.

    How Much Do Appliance Extended Warranties Cost?

    Overall, the average annual price of an appliance extended warranty is generally between $20 and $150 per year. It’s a big range, because there’s a lot at play. Your cost will vary depending on the company manufacturing your appliance and the price you paid for it.

    In some cases, you’ll pay just as much for an appliance extended warranty as you would to repair the device yourself. This is especially true if the warranty is on the higher end of the price range. When you’re offered an appliance extended warranty, compare the price you’re quoted to the average repair costs of major appliances shown in the table below.

    ApplianceAverage cost of repair
    Dishwasher$150 to $400
    Microwave$100 to $250
    Oven$50 to $200
    Refrigerator$90 to $650
    Washing machine$150 to $275

    However, you should take into account more than just the cost when considering an appliance extended warranty. The warranty company will also help arrange for the repair, which can be a big asset. It’s worth noting that a traditional home warranty company will do this, too.

    What Do Extended Warranties for Appliances Cover?

    Extended warranties for appliances cover repair and replacement costs for one of your major appliances after the manufacturer’s warranty expires.

    Appliances such as refrigerators, dishwashers, ovens, freezers, washers, dryers, and water heaters can commonly be covered by extended warranties. These appliances are typically expensive to repair or replace, making extended warranties particularly attractive for homeowners. Brands like Samsung and LG might partner with local third-party extended coverage providers to offer this protection at the time of purchase.

    In terms of coverage, extended warranties for appliances generally focus on the mechanical components of the appliances. These components are prone to malfunctions due to normal wear and tear or potential manufacturer defects. Some examples of components you might find covered could include motors, compressors, heating elements, control panels, timers, pumps, valves, and sensors.

    If any of these components fail during the coverage period, the extended warranty will typically cover the costs associated with repairing or replacing them. This can include the expenses for parts and labor, ensuring that the appliance can be restored to proper working condition without you as the consumer incurring significant out-of-pocket expenses. Be sure to review the terms and conditions of your warranty coverage to learn more about components and situations covered.

    A traditional home warranty covers most of the same things, but for all of your appliances instead of just the one you’re buying. Again, we generally recommend going with a full home warranty plan instead. Here are a few of our top picks.

    So, Are Appliance Extended Warranties Worth It?

    In some instances, an appliance extended warranty can be worth the price. If it’s a small monthly or annual fee, it can be worth it to spend the few bucks to get the additional peace of mind.

    But in most cases, an appliance extended warranty is too limited to be useful. Appliance extended warranties must be purchased shortly after investing in the appliance, which may be the time when the appliance is least likely to need a repair.

    Instead of an appliance warranty, we recommend exploring home warranty service plans, which cover a range of appliances and systems for a single, affordable monthly premium.

    FAQs About Appliance Extended Warranties

    What is the difference between a regular warranty and an extended warranty?

    Extended warranties build off the coverage provided on the regular manufacturer’s warranty that comes when you buy a new or refurbished appliance. Your manufacturer’s warranty will include a list of terms, inclusions, and exclusions for the first year that you own the appliance. An extended warranty continues these same protections for an additional time period after the warranty expires.


    Can you extend an extended warranty on appliances?

    In general, it is not common to extend an extended warranty on appliances. Extended warranties are typically purchased for a specific duration at the time of appliance purchase. Once the extended warranty expires, it is not usually possible to further extend the coverage. Check with the warranty provider or consult the terms and conditions of the warranty to confirm the possibilities for extension.


    Is it a good idea to get an extended warranty on appliances?

    Buying an extended warranty on appliances can be worth it for exceptionally expensive appliance investment. However, in most cases, it’s more advantageous for homeowners to buy a home warranty, which offers coverage for a wider range of appliances and systems.


    Will a home warranty cover my appliances?

    Yes, most home warranty plans will provide some level of coverage for appliances unless they are specifically designed to cover only home systems. Be sure to review the terms of the appliance coverage included with a home warranty if you do decide to invest in this type of plan.


    Editorial Contributors
    avatar for Sarah Horvath

    Sarah Horvath

    Contributor

    Sarah Horvath is a senior-level home service review professional with more than 10 years of experience in the homeownership industry. You can find her writing on sites like Robinhood, MoneyLion, Benzinga, Forbes Advisor, and more. When she's not busy writing, Sarah enjoys spending time in her home in Orlando with her fiance and her parrot.

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    photo of Andrew Dunn

    Andrew Dunn

    Senior Editor

    Andrew Dunn is a veteran journalist with more than 15 years of experience reporting and editing for local and national publications, including The Charlotte Observer and Business North Carolina magazine. His work has been recognized numerous times by the N.C. Press Association and the Society of American Business Editors and Writers. He is also a former general contractor with experience with cabinetry, finish carpentry and general home improvement and repair. Andrew earned a degree in journalism from the University of North Carolina at Chapel Hill, as well as a certificate in business journalism. He lives in Charlotte, N.C.

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