Why You Need Home Appliance Insurance and What It Covers

If you own a home, then you know that there are always appliances that need to be repaired or replaced. When these things happen, it’s important to have appliance insurance so that you can be sure to get the most out of your investment. In this blog post, we will discuss the benefits of appliance insurance and what you need to know about it. We’ll also provide some tips on how to choose the best policy for your needs.

What is Appliance Insurance?

Appliance insurance is an important type of insurance to have if you own any large appliances, like a refrigerator or a washing machine. If one of these appliances were to break down, you would be on the hook for the cost of repairing or replacing it. Appliance insurance can help protect you from having to pay out of pocket for these costs.

What is Covered By Appliance Insurance?

Most appliance insurance policies will cover both repairs and replacements, as well as any associated shipping costs. This can be a lifesaver if your refrigerator breaks down in the middle of summer and you need to get a new one right away.

A list of items that may be covered by appliance insurance includes but is not limited to: refrigerators, dishwashers, ovens, washers, dryers and many more household items.

Coverage for each appliance may vary based on the policy. It is important to read the terms and conditions of the policy to understand what is and is not covered. For example, some policies may cover damage caused by a power surge, while others may not.

Be sure to shop around for the best appliance insurance policy for you. Policies can vary quite a bit in terms of what is covered and how much they cost. If you are unsure if your item is covered, or if you have any questions about your policy, contact the insurance company. They will be able to help you understand your coverage and answer any questions you may have.

Benefits Of Appliance Insurance

#1 – Get Coverage for Your Home
A big benefit of appliance insurance is that it can help protect your home from costly damages. If one of your appliances malfunctions and starts a fire, for example, appliance insurance can help cover the costs of repairing or replacing your home and its contents.

#2 – Save Money on Repairs or Replacement Costs
Another big benefit of appliance insurance is that it can save you money on repairs or replacement costs. If something happens to one of your appliances, and you have appliance insurance, you’ll likely be able to get the repairs or replacement done at a fraction of the cost.

#3 – Get Peace of Mind
If you’re like most people, you probably rely on your appliances to make your life easier. And if something happens to one of your appliances – like it breaks down or catches on fire – it can be a huge inconvenience. Appliance insurance can give you peace of mind in knowing that you’re covered if something goes wrong with your appliances.

#4 – Get Coverage for Multiple Appliances
Most appliance insurance policies offer coverage for multiple appliances. This means that if something happens to one of your appliances, you won’t have to pay for a new policy or for each individual appliance.

Popular Companies Offering Appliance Insurance

There are plenty of companies that offer appliance insurance, so it can be tough to know which one to go with. Here are four popular options:

1. GE Appliances Insurance: This is a popular option because it offers coverage for both accidental damage and mechanical failure.

2. HomeServe Appliance Insurance: This company offers coverage for a variety of appliances, including washers, dryers, refrigerators, and dishwashers.

3. Protect Your Bubble Appliance Insurance: This company offers coverage for accidental damage, mechanical failure, and even power surges.

4. Assurant Appliance Insurance: This company offers a wide range of coverage options, including protection against theft, fire, and natural disasters.

How and When To Submit An Appliance Insurance Claim

If you have an appliance that has been damaged, it’s important to know how and when to submit an insurance claim. First, you’ll need to contact your insurance company and report the damage. Be sure to have your policy number and a description of the damage ready.

Next, you’ll need to gather any evidence of the damage, such as photos or receipts. Finally, you’ll need to submit a claim form to your insurance company. They will review your claim and let you know if it’s approved.

Wrapping Up

Appliance insurance can be a great way to protect your appliances and your home from expensive damages. Be sure to shop around for the best policy for you, and don’t hesitate to contact the insurance company with any questions you have. This guide should serve as an introductory exploration into the world of appliance insurance. Good luck!

References

1.) “Appliance insurance explained – do you really need it?” IdealHome (2022):
https://www.idealhome.co.uk/property-advice/appliance-insurance-explained-305173

2.) “ Home Insurance for Appliances and Everything You Need to Know” ” HeroRat (2022):
https://www.herorat.org/blog/home-insurance-for-appliances-and-everything-you-need-to-know/

3.) “BEST HOME APPLIANCE INSURANCE COMPANIES (2022)” Architectural Digest (2022):
https://www.architecturaldigest.com/reviews/finance/home-appliance-insurance