Best Home Appliance Insurance Companies (October 2023)

Review our picks for the best insurance for home appliances: 

Home appliance insurance is another name for a home protection plan or a home appliance warranty. As a customer, you pay a monthly or annual fee in exchange for discounted diagnostics, repairs and replacements of your home’s essential components, such as HVAC units, refrigerators and laundry appliances. Many home warranty companies offer multiple coverage tiers so you can select the best plan for your budget and household needs, including appliance-only coverage.

Our survey of 1,000 homeowners found that nearly 50% of respondents have had to pay $700 or more to replace a single home appliance. If that figure alarms you, home appliance insurance can help alleviate the expense of appliance replacement and repairs.

When deciding which home appliance warranty is best for you, you’ll want to consider important factors like coverage, cost and level of customer satisfaction. Compare our top-rated home appliance warranty companies to see which one fits your needs:

Home appliance insurance covers the cost to diagnose, repair or replace a major appliance when it malfunctions due to normal wear and tear. Our analysis of customer reviews of the top home warranty companies revealed that many customers don’t understand what their plans will and will not cover. It’s important to have a good sense of what your home warranty covers before agreeing to any contract. The most commonly covered appliances include, but are not limited to, the following: 

• Dishwasher
• Garbage disposal
• Oven, range, stove or cooktop
• Refrigerator
• Clothes washer and dryer

A home warranty covers repair costs and replacements that are outside the scope of homeowners insurance. While homeowners insurance will protect your home in the event of a burglary, vandalism or natural disaster, it doesn’t cover costs associated with the routine wear and tear of your home’s built-in systems and appliances. 

Each home warranty policy will have its own coverage limits — the maximum amount a home warranty company will pay to repair or replace an item — per system or appliance. Some companies will have only an annual coverage limit. You can find information about specific coverage limits in your home service contract. 

When you enroll in home appliance insurance (or a home warranty) you will pay a monthly fee for the coverage, as well as a fee when your service technician comes to handle a repair.

Based on our comparison of the top home warranty providers, the average cost of appliance coverage is $47.71 each month, or $572.52 annually. Service call fees typically range from $75 to $125 for each claim. Most home warranty plans are a year-long contract, so you may incur fees if you choose to cancel your plan early. 

The chart below is a breakdown of the average costs of home appliance insurance by the home warranty provider.

*Plan costs are based on a single-family home under 5,000 sq. ft. in Raleigh, NC. Pricing reflects the most basic plan that covers laundry and kitchen appliances.

The MarketWatch Guides team developed a calculator to help you analyze the anticipated annual expenses of owning a home warranty with appliance coverage. To determine your projected yearly cost, input your monthly premium, service call fee and estimated number of claims. We recommend getting quotes from our top providers directly, as prices vary by plan, location and home size.

Source: Home Depot

The calculators used on this website are being provided for educational purposes only. Data will not be collected or stored. The results are estimates based on the information you provide and may not reflect the actual pricing of your quote.

The cost of replacing or repairing home appliances can vary depending on several factors, including the following: 

• The age, condition and brand of the appliance
• Cost of labor and parts 
• Your home’s location
• Scope of the damage

Typically, repairs are more affordable than replacements, but sometimes the damage may be greater than the appliance’s value. In this case, your home warranty company may suggest a total replacement. 

According to our market research, the cost to repair appliances can range from $50 to $800, depending on the item. Water heaters and air conditioning units are the most expensive.

On the other hand, having to replace all your major home appliances can cost upwards of $10,000. Individual appliance replacement costs range from $150 on the low end to $10,000 for more luxury appliances, such as top-of-the-line refrigerators and air conditioning systems.

When a covered item malfunctions, you can file a claim with your home warranty provider and expect a reply within 24 hours to five days, depending on your location and the urgency of the breakdown. The company will likely ask you to provide the make and model of the broken item. You should also be ready to explain the nature of the malfunction in detail — for example, explain that your washing machine won’t drain water rather than simply stating it’s not working. 

Once your claim is approved, your provider will pair you with a local, licensed and insured service contractor. The technician will diagnose the problem and typically perform minor repairs and parts replacements during the initial visit. More extensive repairs and replacements may require an additional appointment, which may incur an additional service call fee.

It’s important to note that most home warranty companies have a 30-day waiting period from enrollment before new customers can file their first claim.

There are several options for home appliance insurance that can help cover the cost of a repair or replacement if something in your home breaks. Compare the differences between a home warranty, home appliance warranty, manufacturer’s warranty and extended warranty to decide what coverage is best for you: 

When looking for a home appliance warranty, you’ll want to balance several factors, including:

Although many homebuyers purchase home appliance insurance when moving into a new home, you can enroll in coverage at any time. However, most home warranty providers that cover appliances require you to wait 30 days after enrollment before you can submit a service request. 

You may want to consider purchasing home appliance insurance if you have older appliances. Older appliances are more likely to break down due to normal wear and tear and need repairs or replacements, meaning you’ll be more likely to take advantage of your home warranty and avoid paying out of pocket when something breaks. If you have all new appliances, it may not be worth it to pay for home appliance insurance every month. 

We at the Marketwatch Guides team recommend American Home Shield since it offers as much as $6,000 in coverage for appliances, whereas Liberty Home Guard allows you to customize your package with a massive suite of add-ons. Select Home Warranty allows you to cover your appliances and built-in systems for less than $50 a month.

Because all providers vary in their policies, coverage caps and response time, it’s important to request a quote from at least three options and to read their sample agreements carefully for clarity.

Discover our top home services recommendations and find out which providers meet your needs.