Stress can quickly build when major appliances in the home break down. The problem can be costly and inconvenient, whether it’s clothes that pile up in the laundry area or food that isn’t eating well in the fridge.
Hart Research Associates found that half of Americans don’t have enough savings to ensure financial stability. This means unexpected repairs could lead to financial hardship.
The Service Contract Industry Council (SCIC), urges homeowners to purchase. extended warrantiesThey can be used to cut down on unexpected repairs and costs. These are especially useful during periods of financial uncertainty and flat income growth. They protect your budget from unexpected repair costs or product failure. They provide routine maintenance and support that will keep your appliances running longer.
Assurant Solutions also agrees.
“Extended warranties essentially pick up where the manufacturer’s warranty leaves off, extending and often boosting coverage,”Joe Erdeman, president at Assurant Solutions, explains. “When appliances and electronics are upgraded and redesigned every year, they often become more expensive to repair or replace.”
According to the model, the cost of repairing a clothes dryer’s motor could be as high as $282. An average service contract for the dryer is $75. A refrigerator compressor replacement could cost between $568 and $650. This compares to a $106 plan that has a $25 deductible. The warranty offers a better deal regardless of the part or appliance that needs repairs.
Major home appliances should generally last a long time. A typical dryer should last around 14 years and a fridge for 17 years. Some kitchen appliances, like trash compactors, garbage disposals and dishwashers, have a shorter life expectancy.
These estimates are from the National Association of Home Builders. However, there is a catch. Many appliances and mechanical systems require maintenance. Keep major appliances in good working order by cleaning the refrigerator coils and washing machine hoses. Also, empty the ice bucket at least once per month to avoid frosting.
The extended warranty is a great way to save time and effort if you aren’t diligent about such tasks. It offers routine maintenance, power surge protection, and peace of mind.
Find out more about extended warranties for protecting appliances www.serviceprotectionadvantage.com/spa/.
