When is an Extended Warranty on Appliances Worth It?

If you just purchased a new appliance, you’re likely feeling a mixture of emotions. Excitement, anticipation, or maybe fear that your new appliance won’t last as long as you would like? Luckily, an extended warranty on your new appliance will ensure that it runs properly for years to come.

Is an Extended Warranty on Appliances really worth the money?

Extended warranties for appliances are really worth the money. The built-to-last appliances that your parents and grandparents bought are not the same ones being sold in stores today. Appliances are simply breaking down at a faster rate. Luckily, extended warranties for your appliances will keep them working for years to come.

What does it usually cost to repair a refrigerator?

Refrigerator repair costs vary quite significantly depending on what malfunctions or breaks. According to Home Advisor, “A new thermostat might start as low as $100, while a new compressor can run up to $450.”

What is a good price to pay for a refrigerator extended warranty?

A good price for a refrigerator extended warranty is 15% of the refrigerator price or less. So, if the refrigerator costs $1,500, your warranty should cost $225 or less. In this price, it is important to note the years of coverage and deductible amount. Most extended warranty companies offer five years of warranty coverage that begins when you purchase the appliance. This means that the first year of coverage overlaps with the manufacturer warranty.  Upsie, too, offers 5-year and 3-year plans. Before purchasing an appliance extended warranty, make sure to shop around so you can get the best price for the most years of coverage.

What does it usually cost to repair a stove?

Stove repair prices depend on multiple factors including if they are gas or electric, if they are a standalone cooktop versus stove and oven combo, etc. You will likely pay between $100-$200, but could pay as much as $430 for a repair.

What is a good price to pay for a stove extended warranty?

A stove extended warranty should cost less than the cost of repairs. So, if the average repair costs $100-$200, your warranty should cost less than $200. Of course, there are exceptions here. If you are buying a more expensive five or six burner stove, assume that repair costs will be higher.

What does it usually cost to repair a dishwasher?

It usually costs $160 to repair a dishwasher. This cost, too, will vary based on what is actually wrong with your dishwasher. Higher repair estimates are $300.

What does it usually cost to repair a washer or dryer?

A washer and dryer usually costs $100-$350 to repair. It’s important to keep in mind that a washer malfunction could cause leaks and therefore cause water damage to your home. A warranty with Upsie will enable you to get a repair technician out to your home right away to repair your washer and prevent additional significant damage from occurring.

What is a good price to pay for a washer and dryer extended warranty?

If the high-end average repair cost is more than you are comfortable paying out of pocket, you should get a warranty. However, if the warranty costs more than this price, it might not be worth it for you. It is important to keep in mind that Upsie warranties allow you to make multiple claims up to the purchase value of your washer dryer. So, if your washer costs $1,000 and your first repair costs $300, you have $700 in additional repairs that you can make. This means that you are saving a ton of money and are still covered for future claims.
When you’re shopping for an extended warranty on appliances, start with Upsie. Their plans typically cost less than Home Depot, Best Buy and Sears warranties for the same level of coverage with $0 deductible. Additionally, appliance extended warranty plans can be purchased up to 11 months after the appliance purchase date. Upsie offers tremendous customer service and quick repairs by certified repair technicians. You can reach out to them with any questions on their website, Twitter or Facebook.

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