Advertiser Disclosure

All You Need To Know About Appliance Insurance

All You Need To Know About Appliance Insurance Insurance

In today’s day and age, appliances are the most basic need of each household. We have appliances all around our houses which we cannot do without, be it the refrigerator, washing machine, mixer grinder or anything else. All these appliances are used in our daily lives and form a big part of it. Needless to say, it is important to ensure its proper working.

When any of them break down or do not work properly, it interrupts our daily functions and causes unnecessary hindrance. The only options we have are to either get them repaired or to buy a new one, both of which mean big spending! However, there is a third option and that is to get your appliances insured. But are they really effective and do you really need them?

What is appliance insurance?

As the name suggests, appliance insurance is an insurance that covers costs incurred when the insured appliance suffers damage. The home appliance insurance provides cover for a number of appliances including kitchen appliances (white goods) and even audio-visual appliances (brown goods). It provides insurance when you buy an appliance and even for appliances that you already own. Another option is that while buying an appliance, you may be offered an extended warranty which can be renewed from time to time.

Now the question that arises is what you should opt for; an extended warranty for an appliance or home appliance insurance?

While on the face of it, home appliance insurance plans may be more costly than an extended warranty, but if you analyze, an extended warranty covers only a single appliance while home appliance insurance plans cover multiple appliances. Therefore, in the long run, buying home appliance insurance plans are cheaper than buying separately extended warranties for all different appliances. But in case you do not require a home appliance warranty because most of your appliances are new, then it would be better to just buy an extended warranty for the respective appliance.

So in the end, it all depends on your needs. Know your requirements before buying either of the two.

172 VIEWS

top rated cards

Citi® / AAdvantage® Platinum Select® World Elite Mastercard®

cards
  • Purchases Intro APR
    17.74%
  • Regular APR
    17.74% - 25.74%
  • Balance Transfer Int APR
    25.74%
  • Annual Fee
    $99

Citi® Double Cash Card – 18 month BT offer

cards
  • Purchases Intro APR
    15.24%
  • Regular APR
    15.24% - 25.24%
  • Balance Transfer Int APR
    0%
  • Annual Fee
    $0

Citi® Diamond Preferred® Card – 21 Month Balance Transfer Offer

cards
  • Purchases Intro APR
    14.74%
  • Regular APR
    14.74% - 24.74%
  • Balance Transfer Int APR
    0%
  • Annual Fee
    $0

Citi Simplicity® Card - No Late Fees Ever

cards
  • Purchases Intro APR
    15.74%
  • Regular APR
    15.74% - 25.74%
  • Balance Transfer Int APR
    0%
  • Annual Fee
    $0
Finance

Ease Of Everyday Transactions With Mobile Payment Systems

Mobile payment systems are an effective alternative to take care of your everyday financial transactions when you forget your cash or card at home. Since smartphones have become a regular part of our everyday life, forgetting a mobile phone is less l...
175 VIEWS
cate

VA Streamline Refinance Advice and Tips for You

The VA’s Streamline Refinance programs, also referred to as a “VA to VA” mortgage or hobby price reduction Refinancing loan (IRRRL), permits you to lower the hobby charge on your mortgage with few or no out-of-pocket fees. this is best availabl...
316 VIEWS
Investments

Benefits Of Portfolio Management Software

The portfolio management system is basically a hierarchy of selecting the correct way for investments, allocation of money, reaching our objectives, asset allocation for the institution and for an individual. Anything achieved with planning can never...
192 VIEWS