Home appliances are an inevitable part of Americans’ lives. The latest Statista analysis on the household appliance industry (annual revenue $61.7 billion) in the USA highlights the daily necessity of small and major appliances. Large appliances like refrigerators, washing machines, dishwashers, etc., and small appliances like toasters, water heaters, etc. are the most favorite of Americans.
When purchasing household appliances, considering extended warranties is a wise decision. These warranties put additional insurance apart from the manufacturer’s warranty and protect against unexpected repair costs. We collected insights from various online platforms to compare the longevity of everyday appliances. Here are the top appliances that should be purchased with extended warranty, if you do not want to spend unnecessarily on repairs and maintenance.
Refrigerators
Refrigerators are the most widely owned and used household appliance in America. Surprisingly, 99.9% of homes use a fridge, while 23% have more than one. The average cost of a refrigerator can be $430 and above, as per the information by Experian. This appliance runs continuously, thus prone to issues like compressor failures, cooling problems, and faulty ice makers. An extended warranty covers these common problems, ensuring necessary repairs are handled without additional financial burden. This protection extends your refrigerator’s lifespan. Plus, you can be assured that unexpected breakdowns won’t disrupt your household or budget.
Microwaves
After refrigerators, microwaves are the second-most popular home appliance in the United States. As per the latest Statista report, around 80% of American homes use a microwave. The price range for a basic microwave unit is around $100-$600, but built-in systems can be way more expensive. This appliance is amongst the most frequently used appliances every day, thus they can incur sudden problems. Voltage fluctuations and overuse may cause the intricate electrical parts to break down. An extended warranty offers coverage beyond the manufacturer’s warranty, shielding you from unforeseen repair or replacement expenses.
Televisions
As per the U.S. Energy Information Administration, around 98.9% of American households have a color television. Modern TVs, especially high-end models with advanced features like 4K, OLED, or Smart TV capabilities, can be quite expensive. These sets can encounter issues such as screen defects, sound problems, and software malfunctions. An extended warranty covers all potential repairing issues, protecting your investment. However, it is important to note that accidental damages to the television are not covered under warranty.
HVAC Systems
An HVAC system is crucial for maintaining comfortable indoor temperatures year-round. It is a complex and expensive system that can cost around $5000 to $10000 for installation. Over time, the system can experience issues such as compressor failures, refrigerant leaks, and electrical problems. Undoubtedly, repairing or replacing HVAC components can be costly. An extended warranty covers these potential issues, ensuring your system operates efficiently without unexpected expenses.
Window ACs
Window AC units are more affordable than central HVAC systems. Purchasing a new unit can cost around $138 to $523. Upon regular use, window AC units can encounter problems like compressor failures, refrigerant leaks, and electrical malfunctions. Repair costs can add up quickly, thus, an extended warranty can help cover these potential issues. This additional protection ensures the unit runs efficiently throughout its lifespan, even after the manufacturer’s warranty is over. You can be spared from unexpected repair expenses, especially during hot summer months when the AC is essential.
Dishwashers
A 2015 study by the U.S. Energy Information Administration revealed that around 79.7 million households had a dishwasher, but only 54% of the homes used it properly. This appliance comes at a hefty price range of $400 to $3000. Without regular usage and maintenance, there can be potential problems. Issues like water leaks, pump failures, clogging, and electrical problems can be costly. Thus, extended warranties can be essential for this appliance. Such warranties can cover the cost of repairs, preventing unexpected expenses and ensuring the dishwasher remains in good working condition.
Kitchen Ranges
Kitchen ranges are the combined cooking set-up consisting of a stove and an oven. These units offer a convenient solution for everyday cooking, costing around $600 to $1300. Sudden breakdown of such units can unexpectedly add $150-$300 to your budget. Extended warranties can cover costly repairs or replacements beyond the manufacturer’s warranty. Kitchen ranges are heavily used appliances, and an extended warranty can ensure your appliance lasts longer without additional out-of-pocket expenses.
Kitchen Range Hood
If you are particular about maintaining your kitchen’s well-being, a range hood becomes mandatory. This setup can cost around $650 to $2000 including the unit and installation. Range hoods generally have fewer components prone to failure compared to other kitchen appliances. Yet, considering the high cost and available manufacturer’s warranty, it is wise to get an additional warranty for extended coverage.
Washing Machines
Washing machines (washers and dryers) are at the top of the list for most American households. More than 75% of American households in the mid-high income range own a washing machine unit. The price of a combined washer-dryer unit can range from $1000 to $2300. Thus, getting an extended warranty for a washing machine is highly advisable. These appliances are frequently used and have many mechanical and electronic components that can fail over time. It is wise to get advanced protection to save $100-$400 on repairing unnecessarily.
Central Vaccum Cleaners
The average cost of setting up a central vacuum cleaning system is quite costly, ranging from $800 to $3500. This price includes the equipment as well as the installation charges. By opting for an extended warranty, you can ensure comprehensive coverage beyond the manufacturer’s standard terms. This proactive step not only shields you from unforeseen repair costs but also extends the longevity and efficiency of your central vacuum cleaning system.
Lawn Mowers
America is obsessed with picturesque lawns and it is evident from the $40 billion lawn care industry. It is understandable why landscaping is gaining more popularity as a job with time. Having a good riding lawn mower can cost $1800 to $5000. It is only wise to have extended warranty protection to save unforeseen repair expenses.