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Buying home appliance insurance provides peace of mind should a covered item suddenly need repair or replacement. Learn how purchasing can save you time and money on the items you use every day and where to find this protection. Our team researched and reviewed the best home warranty companies to give you a head-start.
2022’s Best Home Appliance Insurance
The following three companies are the best options for home appliance insurance this year:
American Home Shield
✔ Available in every state but Alaska
✔ Flexible service call fees
✔ Offers plans with comprehensive coverage
✖ Requires 30-day waiting period before servicing starts
✖ Coverage limitations for air conditioning systems
Plans & Pricing
American Home Shield’s plans range from $29.99–$74.99 per month. Depending on the service fee that you choose, service fees are $75, $100, or $125 per visit. If you choose to pay a higher fee for service calls, you will pay a lower monthly rate for your warranty plan.
American Home Shield offers three plans:
- ShieldSilver™ Plan: Covers major systems
- ShieldGold™ Plan: Covers major systems and appliances up to $3,000
- ShieldPlatinum™ Plan: Covers all systems and appliances in the other plans, plus $1,500 of roof-leak coverage, an increased coverage limit on appliances
Read More: American Home Shield Review
Choice Home Warranty
✔ Available in every state but Washington
✔ Affordable plans
✔ 60 day workmanship guarantee
✖ Pending lawsuit
✖ Not accredited with the BBB
Plans & Pricing
Warranty plans with Choice Home Warranty range between $46–54 per month, depending on the plan type, extent of coverage, and home size. Payments can be paid monthly or annually. Additional expenses include an $85 service fee per claim, regardless of the total cost of the repair or replacement.
Choice Home Warranty offers these two plans:
- Basic Plan: Covers basic systems and appliances
- Total Plan: Covers a broader range of systems and appliances
Read More: Choice Home Warranty Review
Select Home Warranty
✔ Good option for price-conscious consumers
✔ Claims can be made 24/7 by phone or online
✔ Free roof leak coverage
✖ Not available in New Mexico, Nevada, Washington, or Wyoming
✖ Doesn’t offer fixture coverage
Plans & Pricing
Select Home Warranty plans cost between $41–$46 per month. Additionally, you’ll pay a $75 service call fee each time a technician makes a visit to your home. Select Home Warranty will send a local licensed professional to your home to repair or replace your covered item.
Select Home Warranty offers three plans:
- Bronze Care: Covers major systems
- Gold Care: Covers major appliances
- Platinum Care: Covers major systems and appliances
Read More: Select Home Warranty Review
What is Home Appliance Insurance?
Home appliance insurance is a service contract that covers repairs and replacements of various home appliances and home systems. These policies cover a range of household appliances and systems, such as air conditioning, heating, electrical, plumbing, dishwashers, refrigerators, washers, dryers and ductwork.
Pros and Cons of Home Appliance Insurance
Having home appliance insurance in addition to home insurance can provide several benefits, but there are downsides to consider.
- Pro: Homeowners will know exactly what they owe for their premium, deductible, and service call; no surprise costs or fees
- Pro: Homeowners won’t have to research reputable technicians ; warranty companies already have relationships with licensed and certified technicians
- Pro: Provides peace of mind
- Con: Not every appliance or system can be covered
- Con: Appliances or systems that aren’t properly maintained aren’t covered and the term “properly maintained” can be subjective
How Does Home Appliance Insurance Work?
Most new appliances and systems include a warranty, which covers the product for material defects. A home warranty covers these products once they’re not covered under the manufacturer’s warranty and are prone to breakdowns from aging and regular wear and tear.
If a covered item breaks down due to wear and tear, you’ll need to immediately place a service request. Your provider will appoint an independent repair specialist who will come to your home, usually within a couple of days. At the time of repair, you’ll pay a service fee, which is a predetermined rate that acts as a deductible. The remainder of the repair cost will normally be covered by your home appliance insurance provider.
Is Home Appliance Insurance Worth It?
For some homeowners, home appliance insurance isn’t needed. But for many ordinary homeowners, repairs that reach into the thousands of dollars are simply unaffordable. A home appliance insurance policy can help offset these inevitable costs and provide peace of mind. Without home appliance insurance, there’s always a chance that an unexpected repair can compromise your financial security.
Home Appliance Insurance vs. Home Insurance
Home insurance is a policy that protects your home from unexpected perils, such as tornadoes, flooding, theft, vandalism, and earthquakes. Routine wear and tear is not covered, so if your appliances break down, you’ll be on the hook for the entire cost of repair. With home appliance insurance, your items are protected from routine wear and tear.
The Bottom Line
Home appliance insurance can provide homeowners peace of mind for everyday items that may need repair or replacement. It can be a good way to easily budget and save money on unexpected repair costs. When shopping for a home warranty, we recommend getting quotes from these top providers and any others. Compare the cost and the coverage so that you can get the best deal and service.