Yes, many insurance companies offer insurance for home appliances. A few popular insurance providers for home appliances include:
Choice Home Warranty: Choice Home Warranty offers home appliance insurance at a monthly average rate of $55 per month. They charge an $85 service fee to policyholders with a response time of at least 48 hours. Choice Home Warranty offers both basic and total coverage of appliances and has less traditional coverage, including insurance for home spas.
Select Home Warranty: Select Home Warranty offers home appliance insurance at an average rate of $54 per month. Service fees for Select Home Warranty range between $60 – $75 per visit, and they offer a same-day response. This company offers different levels of appliance coverage, including insurance for appliances and home systems.
Liberty Home Guard: Liberty Home Guard offers insurance at an average monthly rate of $60. Service fees with Liberty Home Guard average $125 per visit, and they respond within 48 hours. This company offers three types of insurance plans, allowing you to get the appliance coverage you want.
Landmark Home Warranty: Landmark Home Warranty offers insurance at an average of $55 per month. They charge an average service fee between $70 – $100, depending on your plan. They have a 30-day warranty on all repairs.
A home appliance insurance policy is referred to as a home warranty. A home warranty covers repairs and replacement of major appliances, like refrigerators and ovens. A home warranty is in addition to a home insurance policy, as home insurance only covers damage and replacement of your home.
The average cost of a home warranty is between $600 – $800 per year. This premium can cover the single cost of one appliance breaking, making home insurance worth it.