What is home appliance insurance?
Home appliance insurance is there to plug the gap between home insurance and appliance warranties.
While home contents insurance typically offers some cover for appliances, there may be strict limitations. For example, your policy may cover you for accidental damage and/or theft of an appliance, but not mechanical breakdown, repairs, call-out fees or the cost of parts and labour.
Although most new home appliances are protected by at least a one-year warranty, if something happens after that first year you may find yourself in difficulties. And while you’re likely to be offered an extended warranty when you buy an appliance to cover this situation, you could get better value and more extensive cover if you shop around and insure your appliances under a separate policy. This is known as standalone home appliance insurance. If your goods are expensive to repair or replace, this option could give you additional peace of mind.
Why take out home appliance insurance?
Your appliances are usually some of the most valuable things in your home, so it’s a good idea to insure them to protect you against the cost of something going wrong with them. To make things simple, you can take out a multi-appliance policy, which groups all of your appliances together in one package, which can often lead to a discount.
If you already have a good contents insurance policy, you shouldn’t need to take out extra appliance insurance, so check if you’re already covered. However, you should know that policies won’t cover general wear and tear.
Which appliances are covered by a home appliance insurance policy?
Policies will vary but, generally speaking, the following domestic appliances should be covered:
- fridges and freezers
- ovens, hobs and microwaves
- washing machines and tumble dryers
- TVs and DVD players
- Games consoles
- music systems
Things like mobiles, tablets and laptops can be insured with gadget insurance or as part of your contents insurance.
What does home appliance insurance cover?
Cover can vary depending on the provider. However, most policies should include cover for:
- repairs, including labour and parts, and call-out charges
- mechanical breakdown due to faulty parts or installation
- accidental damage.
What isn’t covered by appliance insurance?
Here are a few examples of the type of things that won’t be covered by appliance insurance:
- cosmetic damage that doesn’t affect the functionality of the appliance
- malicious damage or damage as a result of misuse or abuse
- wear and tear
- damage before you took out the policy
- appliances over a certain age.
Check the policy documents before you buy, so you know exactly what’s covered and what’s excluded.
How much does home appliance insurance cost?
The cost of home appliance insurance varies, depending on the value of your appliances and the insurance provider you choose. Insurance providers may need proof of purchase for your appliances, which can confirm their value which will be reflected in your premiums.
Home appliance insurance or extended warranties?
Some people choose to pay for an extended warranty, rather than taking out home appliance insurance.
An extended warranty is, basically, an insurance policy provided by the appliance manufacturer and it’s usually taken out and paid for when you buy the appliance.
It’s worth noting that an extended warranty only applies to the individual item you’re buying – you won’t be able to insure your existing appliances under it. So, unless you’re buying everything from scratch, a home appliance insurance policy could be a better option.
Frequently asked questions
Do I need home appliance insurance?
If you’ve invested a lot of money in a brand-new LCD TV or a top-of-the-range fridge freezer, home appliance insurance might be worthwhile.
A good tip is to consider the total cost of the insurance against the cost of a new appliance, and whether or not you’re willing to take the risk and buy a new product if it breaks.
Can I insure more than one appliance?
Yes, of course, multi-appliance policies are available, allowing you to insure all your important appliances in one policy. This makes it easier to manage, with one point of contact, and can even lead to a discount.
Do I need appliance cover if I’m renting?
If you’re renting a furnished property, or a property that includes white goods, you shouldn’t need appliance cover as it’s your landlord’s responsibility to get them replaced or repaired.
If you bought the appliances yourself, it might be a good idea to take out appliance cover.
If I’m a landlord, do I need appliance cover?
If you’ve provided the appliances for your rental property, you’ll be responsible for the repair or replacement of any faulty goods. It’s also your responsibility to ensure any items you provide are safe for use.
Appliance cover could help with the costs of any repairs or replacements you might need.
Will my home insurance cover my appliances?
Cover for kitchen appliances is often included in home contents insurance.
This typically covers your appliances against loss or damage due to insured events, such as theft, fire, storms, water leaks and subsidence. Some policies also offer accidental damage as an optional extra.
However, it’s unlikely your contents insurance will cover mechanical damage or emergency call-out charges.
Do I need appliance insurance if I have a manufacturer’s warranty?
If you have brand-new appliances, they should be covered by warranties for a certain period, so you may not want to take out appliance insurance.
However, once the warranty expires, your appliance will no longer be covered unless you extend the warranty.
This is where appliance insurance could come in handy.
Also, a warranty will only cover a specific appliance. Appliance insurance often covers several items under one policy.
What limitations should I look out for in a policy?
The first thing to check is whether your preferred insurance provider is willing to insure older appliances. A few other things to consider are:
- which types of items are covered and does that fit your needs?
- is there an age limit on items that are covered?
- is cosmetic damage covered?
- are accidental damage and theft covered?
- is there a no-claims period – where you can’t make any claims for a set period at the start of the policy – and, if so, how long is it?
- is there a limit on the amount that you can claim for overall and for a single appliance?
- is there a limit on the number of appliances you can cover?
- what is covered? Are mechanical and electrical parts, labour and call-out fees covered? Will you get a replacement if the home appliance can’t be repaired?
- does the policy have an excess? If so, is it worth buying?
It’s important to make sure you have the right level of cover in case something does go wrong. It helps to know exactly what level of cover you’re looking for, before you shop around.
Is there a limit to the number of times you can make a claim?
This can be different between insurance providers, so be sure to check the details carefully when comparing policies and make sure that you find the best deal for you. Some may offer unlimited claims, while others may be more restrictive.
Will my appliances be replaced with new?
Some insurance providers offer ‘new for old’ cover for appliances.
Make sure you check the policy wording though. Many policies only offer this if repair costs are more expensive than a replacement and your appliance is under a certain age.
Does appliance insurance cover call-out charges?
Most policies should cover call-out charges.
Just be aware, though, that you might not be able to claim if an engineer is called out and subsequently finds there’s no fault with the appliance.
Does it matter how old my appliance is?
In the majority of cases, yes. Most insurance providers will only cover appliances up to eight years old.
The age limit can usually be found under ‘appliance(s)’ in the ‘Definitions’ section of your insurance policy.
What do I need to get a quote?
Compare the Market doesn’t currently offer comparisons for standalone appliance insurance, but you can find contents insurance through us.
Just provide a few personal details and tell us about:
- your property
- any individual items you want to insure
- your home security