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.

Extended warranties for appliances help you save money on repairs. Unfortunately, appliances need repairs frequently. 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 much longer.

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.” Paying out of pocket for refrigerator repairs can become incredibly costly.

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. However, just because a warranty fits within the right price range doesn’t mean it offers the right coverage. 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’s warranty. Before purchasing an appliance extended warranty, make sure to shop around so you can get the best price for the most years of coverage.

Upsie offers 5-year and 3-year plans that cost up to 70% less than warranties sold elsewhere. For example, for a $1,499 refrigerator, a 5-year warranty from Upsie costs just $199.99. In addition, Upsie’s coverage is comprehensive.

Stove repair prices depend on multiple factors. For example, prices will vary depending on whether the stove is gas or electric, 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.

A stove extended warranty should cost 15% of the price of the stove. For example, if your stove costs $1,500, your warranty should cost $225 or less. Upsie again offers the best price for stove warranties. An Upsie warranty for a $1,499 range costs just $199.99.

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. No one wants to pay repair costs for their dishwasher out of pocket.

A washer and dryer usually cost $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. Because Upsie sends repair technicians to your home quickly, you can prevent additional significant water damage from occurring.

If the high-end average repair cost is more than you are comfortable paying out of pocket, you should get a warranty. It is important to keep in mind that Upsie warranties allow you to make multiple claims up to the purchase value of your washer and 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. Upsie’s plans cost less than Home Depot, Best Buy, and Walmart warranties for the same level of coverage with a $0 deductible. Additionally, appliance extended warranty plans can be purchased up to 11 months after the appliance purchase date. As a result, you can take your time finding the best warranty for your appliance.

Upsie offers amazing customer service and quick repairs by certified repair technicians. You can reach out to Upsie with any questions on their website, Twitter or Facebook.