Appliance insurance, also occasionally known as a home appliance warranty, helps people cover the cost of repairing or replacing devices or systems in their homes. One of the renowned appliance insurance features is its reasonable coverage cost. On average, appliance insurance costs about $47.71 per month (about $573 yearly). Due to the range of insurance providers that offer coverage for appliance repairs and replacements, buyers may need to know certain specifics about appliance insurance.

What does appliance insurance cover?
While different insurance providers may have their own coverage requirements, generally, the items covered by appliance insurance are the oven, refrigerator, dishwasher, clothes washer and dryer, air conditioner, furnace, HVAC system, built-in microwave oven, water heater, garbage disposal system, plumbing system, electrical system, septic system, well pump, lawn sprinkler, pool, doorbell, garage door opener, ceiling fan, and ductwork.

On the other hand, the items not covered are improper installation and maintenance, items covered by a home insurance policy, items that are covered by the manufacturer’s warranty, any damage caused by pets, commercial-grade appliances, modifications that are needed when replacement equipment is being installed (for example, electrical/structural changes and ductwork modifications), costs incurred due to secondary damage when an appliance breaks, and cosmetic defects such as scratches and dents.

Benefits of purchasing appliance insurance
Here are some of the benefits of buying appliance insurance:
It covers the cost of repairs in the event of accidental appliance damage.
It provides essential protection in case of an unexpected breakdown of critical electronic devices like refrigerators and air conditioners.
Appliance insurance enables people to carry on with their life uninterrupted in case of device glitches.
This insurance covers up to 10 appliances, preventing the necessity to insure appliances separately.
Appliance insurance helps reduce downtime in case a device stops working. For example, if a clothes washer and dryer malfunctions and breaks down, its owners can call service providers to repair it immediately without thinking extensively about the repair costs and budgets.

Popular appliance insurance companies
Liberty Home Guard
With availability in 50 states, Liberty Home Guard is one of the most widely accessible service providers. Like many other appliance insurance companies, Liberty Home Guard also provides its policies in multiple warranty plans: one for systems, one for standalone appliances, and a combination package.

The appliance package covers kitchen-based and standard appliances such as garage doors and cooking stoves. The systems package covers devices like water heaters and air conditioners. Finally, the combination package covers all the devices enlisted in the previous two schemes.

Select Home Warranty
This option is one of the most budget-friendly appliance insurance companies available in terms of premium amounts and service fees. Customers who sign up for an annual premium with Select Home Warranty will receive two months of free coverage. This company’s home plans are priced at $47.75 per month, while its service fees are $75.

All the prices specified in this article are dynamic in nature.

American Home Shield
This company offers the most comprehensive coverage for appliance repairs and replacements. Additionally, it also offers generous amounts of coverage. For example, some of its plans offer up to $3,000 per appliance. Additionally, the company does not require clients to reproduce their maintenance records while buying insurance. Another positive aspect of American Home Shield is that customers can choose between a $100 and $125 service fee.