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Different Types Of Home Appliance Insurance

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When moving into your new home or purchasing new home appliances one does not foresee the damages that may occur to these expensive appliances during these transitions or in the long run.

However with home appliance insurance these damages are always taken of which takes the worry and stress of replacing your appliances in case of damages.With this post we explore different types of home appliance insurance policies that will help you out in these unforeseen scenarios.There are many appliance insurance plans such as manufacturer home warranty, seller’s warranty, extended warranty,manufacturer warranty, appliance service contract and many more. However all the insurance policies that I have listed above are all insurance policies for your household appliances. All these policies are slightly different but do not worry I explain them further below.

Home Warranty

Home warranty is a popular insurance plan for most people who want to insure their house hold appliances because it covers repairs and maintenance of household machinery. The home warranty plan takes care of repairs and replaces all your damaged but insured appliances by the service provider. However this plan is also known as Appliance Protection Plan, Appliance Service Contract, Home Maintenance Plan, Home Protection Plan, Home Appliance Insurance and Appliance Repair Service.Despite them having different names they all offer the same plan as Home warranty.

Manufacturer’s Warranty

When buying or purchasing a gadget/appliance the consumer often check out the warranty of the gadget/appliance that they are buying. Checking the warranty is important because this is an assurance provided by the manufacturer for the product and if the item does not meet the expectations promised to the consumer then the insurance provider is bound to repair or replace the product within the stated warranty period. The standard coverage is generally for the period of one year. This warranty is very important because it is legal binding, which means if the seller does not stick to their words, then you can legally file lawsuits against them.Luckily even when you purchase a gadget or appliance most online stores and offline stores are providing manufacturer’s warranty along with the purchased product. Even when products are shipped they are also completely sealed and are as good as what you can get from retail stores. Extending the warranty for additional years is possible, however it is not necessary.

Seller’s Warranty

Seller Warranty is always provided by the seller or the dealer of the gadgets or appliances are purchased from. Most of seller warranties last for the period of 6 months. In case of any sort of defect or malfunction of the product, you have to take the product particularly to the seller from whom you bought it.

Extended Warranty

This warranty can often be used when the manufactures warranty expires. However this is only recommended for those appliances that are not covered by home warranty, such as laptop, PC, TV and other electronics. An extension of the home warranty policy is also available when your original plan expires which makes it convenient. However please note that most often the breakdown period of appliances starts just before or after your warranty expires.

Home Service Contracts

These are also considered as insurance policies for home appliances. Most often these contracts are offered by vendors selling the appliances or gadgets the service company, and the third party service provider. Home service contractors are basically a local, licensed, and insured team that provides the same service as insurance companies. The price, terms and coverage choices widely vary as these companies tend to be local service providers.

Finally before buying insurance policies for your appliances make sure that you understand the “Terms and Conditions” of the policy, especially its limitations because these are very important.Make sure you know the selling agent and make sure it is from a reputable service provider in order to avoid cons. And always remember there is no such thing as a stupid question when it comes to buying insurance policies for your appliances actually asking questions will keep you way from unexpected surprises and you will know how exactly that policy benefits you as an individual.

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