Appliance Extended Warranties FAQs

The worst part of purchasing a new major appliance is saying no to the sales representative who is trying to pressure you to add on overpriced extended warranty protection. But you should consider warranty protection for your new purchase, just maybe not from the retailer. Here are some common FAQs about appliance extended warranties.

An appliance warranty is a limited-time agreement between the manufacturer and the purchaser. It ensures that your appliance will run properly for a set time. Typically, these warranties last for only one year. Most warranties cover manufacturer defects and workmanship, although all vary slightly. When purchasing an appliance, it’s important to read the manufacturer warranty to know what they cover and for how long.

The answer to this question is different for each credit card. Typically, if the appliance does not come with a manufacturer warranty, the credit card does not provide an extended warranty. No-fee cards often do not come with extended warranty protection; this is a benefit of credit cards with annual fees.

If your card does provide an extended warranty, read the terms and conditions. The warranty could last anywhere from one to five years and will begin immediately, meaning that it overlaps with the manufacturer warranty for the first year. Remember, if you have multiple credit cards, you will only receive coverage from the card that you made the purchase with. So, make sure that you choose the proper card! Lastly, tiers of cards matter, too. For example, the Chase Sapphire Reserve may have different terms than the Chase Sapphire Preferred card.

A major downfall of credit card extended warranties is you must keep all paperwork on hand. In order to make a claim, you will need to provide the original store receipt, the account statement showing your purchase and a copy of the manufacturer’s warranty. So, they don’t exactly make it easy. There might also be long waiting periods as you wait for your claim to be processed. Here is a list of the best credit cards for extended warranties.

The best appliance extended warranties can be purchased online from Upsie. Upsie offers comprehensive 3-year and 5-year plans. They begin immediately and overlap with the manufacturer warranty that comes with the appliance for the first year. So why does Upsie have the best plan? For one, their prices are near unbeatable for the same coverage that most competitors offer. There is no deductible or service fee, ever. Also, real people answer calls 24/7/365 at Upsie's claims center. Lastly, you can purchase your Upsie warranty up to 11 months after purchasing your appliance. This gives consumers plenty of time to think through their decision without pressure from sales representatives at the store.

Upsie will replace the appliance with a comparable model if it cannot be repaired. One exception is if there has already been a claim made on the plan. In this case, a check for the remaining plan value will be issued. Take a refrigerator warranty, for example. If the coverage amount was $1,200, and a claim was made on the plan for $400, the check would be issued for $800.

If you choose to purchase a warranty from elsewhere, the replacement process varies. Some major credit cards do cover replacement, but not any of the fees associated with it: shipping, installation and additional services charges. The process to actually file the claim could take a week or more, as well. On the other hand, Upsie will usually let you know on the first call if your claim is covered; no long waits or playing phone tag.

If you bought an appliance warranty at Sears, you likely paid an arm and a leg. Their warranties are very comprehensive with great coverage, but probably are not worth the price for most people. For example, as of 4/21/2020, a 5-year warranty at Sears for a $1,100 refrigerator costs $439.99. Remember, the manufacturer warranty typically lasts 1-year, meaning that this is actually four years of coverage. Upsie’s 5-year warranty for the same refrigerator costs only $199.99. That’s a savings of $240! If you want to cancel your Sears warranty, you will receive a full refund while the appliance is still covered by the manufacturer’s warranty or in the first 60 days. If you cancel any later, they will issue a prorated refund, less any claims paid.

Appliance shopping can be daunting. Facing an appliance repair alone can be even more disheartening. Upsie not only has low plan prices for comprehensive coverage, their service representative will actually locate a repair center and schedule the appointment for you. If you have any questions, you can contact Upsie via their website or send them a message on Facebook or Twitter. The only thing Upsie can’t do is tell you what appliance to buy. Good luck with your new appliance purchase!