Whole House Appliance Insurance
Whole house appliance insurance is one of the most expensive lines of protection, a homeowner can purchase. The typical policy will pay for replacement costs for any major appliance, but the actual cost depends on how much damage the policy covers and how much the homeowner pays out-of-pocket each month. Whole house insurance policies cover the electrical appliances in a home and may even include coverage for any water heaters or air conditioners as well. Many policies will also provide coverage for garage doors and car garages as well. Depending on what part of the country you live in, you may find your rate to be a bit higher or lower than normal.
Some things are more costly to replace than others. Appliances that break down and need to be repaired can quickly add up to a significant expense. Even a simple thing such as an electric outlet replacing a burned-out one can cost several hundred dollars. Not only can this cost money, it also presents a huge inconvenience for the homeowner. In many cases, they have replaced the old unit with a brand new one, only to find the electrical problem still exists. Having repairs done on these appliances can take more than a few days, meaning the homeowner has to be ready to stay home until it’s done.
Another thing to consider is that the older the appliances get, the higher the policy will be. The older the appliances are, the greater the risk of them breaking down. This means the kitchen may be covered in the whole house, while some other areas may only have a house coverage included. For instance, if the garage is attached to the kitchen, certain appliances will be excluded from the house coverage. It’s important to talk with a qualified agent to make sure the insurance policy is adequate for your needs and does not offer any special limitations.
Another thing to consider is that in many cases, if a home has certain types of expensive fixtures, the whole house will be excluded from coverage. Examples of these include but are not limited to, certain designer kitchens, high end bathrooms, hardwood flooring, and even certain high end electronics. To keep from having these things excluded, you may want to include them in the house appliance insurance, which will require no deductible. However, you do have to pay more money to insure these items, which means you may need to adjust your budget accordingly.
Whole house appliance insurance is usually available in most cases through a local commercial company. Since it’s usually cheaper to have this type of coverage than purchasing separate appliances, many times the commercial companies will offer a discount for a business owner who wants to insure all of their household appliances as one unit. However, you should check with your local agent to see what rates are available in your area.
Another thing to keep in mind is that most insurance policies for appliances only cover damage to the actual item itself. So, while your washing machine is insured, so is your clothes hamper, your dishwasher, and your refrigerator. Therefore, you’ll need to have separate insurance for each item, such as, a car or a boat, etc…As opposed to one big whole house policy that would insure everything under one roof. This can actually be quite cost effective.
When searching for whole house appliance insurance, it’s also important to keep in mind that there are various types of coverage available. While some types will cover minor damages to your appliances, such as a busted fan, some policies will also provide coverage in the event of fires, explosions, and even natural disasters such as hurricanes. If your house is at risk in any of these situations, then your home will be protected.
Whole house insurance is a great way to protect your appliances, especially if you live alone. It’s not just something that you purchase once and forget about. It protects your house and all of the things inside of it, so that you and your family can stay safe. Whole house insurance is especially important if you rent, since many landlords will require you to carry insurance to cover any damage to your belongings.