Which appliances need an extended warranty?
Tips to help you save money on repairs
Deciding whether to purchase an extended appliance warranty depends on several factors, including brand reliability and if you can afford potential repair expenses. Here are a few considerations for some common household appliances.
Consider the terms of the warranty, repair costs and brand reliability before buying an extended warranty.
Jump to insightAppliances like refrigerators, washers and dryers are good candidates for extended warranties.
Jump to insightA home warranty is a good alternative to buying an extended warranty.
Jump to insightWhat is an extended warranty?
An extended warranty extends the period when you can get repairs beyond the manufacturer’s warranty at no additional cost. It provides peace of mind that if something goes wrong due to normal use, help is just a call away without worrying about hefty repair bills.
What to consider before buying an appliance extended warranty
The decision to purchase an appliance extended warranty should be based on your specific circumstances, including brand reliability, warranty terms, your financial strategy and appliance longevity.
Reliability of the appliance
Research the reliability of the appliance and its typical repair costs. Some brands are known for their durability, which might make an extended warranty unnecessary. The ConsumerAffairs Research Team has done some of the work for you with our guide to the best appliance brands.
Terms of the warranty
Understand what the extended warranty covers. Some warranties only cover specific parts and may not include routine maintenance. Also, be aware of any limitations or exclusions in the warranty contract. Some brands exclude breakdowns that aren’t part of normal wear and tear, and some exclude cosmetic damage like scratches or dents. Others will deny your repair claims if the appliance shows signs of rust.
Repair costs
When an appliance breaks down, do you have the cash saved up to get it repaired or replaced? For most people, the answer is no. So, you need to weigh the cost of an extended warranty with how much you can expect to spend on repairing or replacing your appliance.
Generally, an appliance extended warranty costs $25 to $50 per month, or $300 to $600 per year, as of publishing. That can seem like a lot to individuals on a budget, but compare that cost with the potential costs of repairing or replacing your appliances:
| Appliance | Cost to repair | Cost to replace |
|---|---|---|
| Dryer | $80-$500 | Less than $1,000 |
| Freezer | $250-$500 | $200-$800 |
| Washing machine | $150-$500 | Less than $1,000 |
| Fridge | $40-$1,000 | More than $1,000 |
| Dishwasher | $100-$200 | $300-$600 |
| Garbade disposal | $100-$150 | $275-$650 |
| Water heater | $200-$900 | $880-$1,800 |
| Built-in microwave | N/A | $275-$2,800 |
Appliance life span
Some appliances may not need an extended warranty because the manufacturer’s warranty covers them for the duration of their life span. So, it’s key to check your manufacturer’s warranty before committing to an extended warranty.
Here’s the average life span for appliances around your home so that you can compare it to the manufacturer’s warranty:
| Appliance | Lifespan |
|---|---|
| Refrigerator | 13 years |
| Oven or range | 15 years |
| Dishwasher | 10 years |
| Garbage disposal | 10 years |
| Washer | 12 years |
| Dryer | 12 years |
| Water heater | 10 years (gas); 15 years (electric); 20 years (tankless) |
What items should you buy extended warranties on?
Which appliances you get an extended warranty on depends on all of the various factors already mentioned, but generally, here are some appliances that you may want to consider:
- Refrigerators: Fridges are used continuously and tend to have expensive repair costs, especially models with ice makers and digital displays.
- Washers and dryers: These appliances endure a lot of use and can be expensive to repair, especially front-loading models with more complex mechanisms.
- Dishwashers: While not as essential as refrigerators, dishwashers can benefit from extended warranties if you opt for higher-end models with sophisticated electronic panels and features.
- Ovens and ranges: Due to the high cost of parts and labor, high-end models, particularly those with electronic controls or induction cooktops, are more likely to be worth the cost of an extended warranty.
- Microwaves: An extended warranty might make sense for built-in models, which are more expensive to replace or repair than countertop models.
Alternatives to an extended warranty
A solid alternative to an extended warranty is purchasing a home warranty plan. Instead of just covering one appliance, a home warranty can cover most of your appliances in one plan. Home warranties are a little more expensive at $36 to $68 a month, or around $450 to $600 a year, but remember, you’re getting much more coverage.
Here’s what home warranty plans typically cover:
- Refrigerators
- Ovens and ranges
- Dishwashers
- Built-in microwave ovens
- Garbage disposals
- Washers and dryers
- Trash compactors
- Freezers
- Air conditioners
FAQ
What does a home typically warranty cover?
Home warranties usually cover large appliances, built-in microwaves, water heaters and systems like HVACs, plumbing, ductwork, pool heaters and well pumps. Some plans also cover additional items like pest control, septic systems, central vacuums, sump pumps and more.
What is the biggest benefit of an extended warranty?
When you run into an unexpected repair, your extended warranty company will handle it by finding a qualified technician to fix the issue and covering the repair or replacement costs.
What are the cons of an extended warranty?
Most extended warranty companies cover repairs only for home systems and appliances that break down due to normal wear and tear. Extended warranty contracts often come with strict limitations and exclusions, which can sometimes make securing the coverage you might expect challenging. You may also live outside the repair technician’s service area, making getting a repair difficult.
Bottom line
When deciding whether to purchase an appliance extended warranty, weigh the repair cost, the warranty’s terms and the appliance's reliability. Appliances like refrigerators, washers and dryers, which are costly to repair and crucial for daily life, are often good candidates for extended warranties.
Additionally, high-end models with sophisticated features, such as smart ovens or built-in microwaves, might also justify the extra protection to safeguard against expensive repairs.
