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Home Appliance Insurance vs Homeowners Insurance

Home appliance insurance covers the costs of repair and replacement on your home's appliances and systems. | SHW Blog

Most of us are familiar with homeowners insurance, but not everyone knows about home appliance insurance.

When you own a home, homeowners insurance covers your property in the case of an accident. But what about the appliances and systems within the home? Both policies are unique in helping you save on sudden costs and will bring you peace of mind just in case anything goes wrong.

What is Home Appliance Insurance?

Home appliance insurance is an agreement that covers the cost to repair or replace a variety of appliances and systems due to mechanical issues. These are also called home warranties and can be customized to cover appliances and systems unique to your home.

Select Home Warranty provides home appliance insurance coverage on many appliances and systems, including the following:

  • Clothes washer & dryer
  • Oven & stove top
  • Refrigerator
  • Dishwasher
  • Garbage disposal
  • Roof leaks
  • Swimming pool
  • Heating and cooling systems
  • Plumbing system
  • Electrical system
  • Sprinkler system

Gain a free quote to review all appliance and system coverages available with home appliance insurance.

How does home appliance insurance work?

When you experience a breakdown on your dishwasher, for example, you can call your home warranty provider to handle the issue. They’ll help schedule a qualified technician to assess the problem and will cover the costs according to your contract.

Select Home Warranty is a Best of Home Warranty Certified Partner and has been named for numerous accolades, including 2018’s Best in Service and 2019’s Editor’s Choice by Home Warranty Reviews, as well as listed on 2020’s Best Home Warranty Companies by Top10.com.

We are most recognized for our wide network of contractors, easy sign up, and low annual premiums for affordable coverage.

What is home appliance insurance? Give us a call to learn more: 860-288-4791 | SHW Blog

Not sure how to choose the best home appliance insurance? Give us a call and we’ll answer your questions today: 860-288-4791

Home Appliance Insurance vs Home Insurance

The difference between home appliance insurance and homeowners insurance comes down to what is being covered and why.

Homeowners insurance covers a home property from costs caused by perils, such as weather damage, theft and accidents while home appliance insurance covers the costs of appliances and systems within the home when they experience mechanical damage.

If your home became damaged by flooding, you would need to call your homeowners insurance provider. If your home’s heating system suddenly stopped running, you would call your home appliance insurance provider. Both can help you save money in the long run and come at a routine fee that you can budget into your expenses.

Insurance policies are most common for possessions such as your home, apartment, car, boat or motorcycle. You could find yourself in a lot of trouble if you were to get in a car accident without auto insurance, or if there’s a fire in your home and you don’t have home insurance.

Home appliance insurance covers the major systems and appliances in your home from mechanical breakdown. Mechanical breakdowns often happen over time, such as if your HVAC system is old and no longer keeps your home cool, or if you think it might be time to replace your dryer when it stops drying your clothes all the way.

Home warranty companies will help you repair or replace your appliance or home systems. Once you have your home warranty contract, place a claim and we’ll help you with the rest!

How much does home appliance insurance cost?

Your home appliance insurance cost can be paid annually or monthly.

Select Home Warranty plans typically vary between $36 and $42 per month. The difference in cost depends on whether coverage applies to major appliances such as the fridge, oven or dryer, or if coverage also applies to major systems such as the electrical, heating or cooling systems. Both options together cost around $500/year. One option, whether all systems or all appliances, costs around  $430/year.

You might also want coverage for other aspects of the home such as your sprinkler system, garage door or pool pump. Select Home Warranty offers optional coverage on these items.

For homeowners insurance, the general estimate you should expect to pay is $35 per month for every $100k your home costs.

In the end, home appliance insurance is usually even less expensive than homeowners insurance, and you might use it more often to cover essential items such as your electrical system, oven, refrigerator and more.

Most homeowners are familiar with how homeowners insurance works, but not everyone is familiar with how a home appliance insurance works. There are many aspects of the home most people don’t know can be covered!

Get a FREE quote today by telling us a bit about your home and learn more about the home warranty plans Select Home Warranty offers! Call today: 860-288-4791