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Should You Get An Extended Appliance Warranty?

20.04.2016 / Comments are off

“Should I get an extended appliance warranty?” This question has been asked a number of times by a number of people for a long time, and it’s a debate that’s likely to go on for longer. With today’s emerging large and expensive appliances, many experts recommend buying an extended appliance warranty. However, others state that regular maintenance can just about do the trick.

How long do these warranties last for?

Most appliance warranties last for about three months to one year after which the manufacturer withdraws all responsibility if your appliance breaks down. However, you can apply for an extended appliance warranty to prevent this. Some manufacturers offer these for the entire first year before the expiry of the original warranty. Extended warranties can vary in length and price of contract.

Should you invest in extended warranties?

Today’s home appliances are built differently than they were two decades ago. Washers and refrigerators are expensive today because they have built-in computer boards and their parts can be quite costly. For example, in the case of refrigerators, a single service call can range from $200 to $400. You might just end up paying less for an extended warranty.

If your home appliance costs less than $500 however, it makes little sense to invest in an extended warranty. For example, if you spend $350 on a washing machine, you wouldn’t want to spend an additional $200 on an extended warranty. It’s unlikely that it will give in within a year’s time. And it makes more sense to just indulge in proper maintenance. Experts recommend definitely investing in an extended appliance warranty if your home appliance costs $800 or more.