Best Appliance Insurance in Florida Tested

Everybody in Florida has home appliances, most of which are used every day, right? Over time, your appliances need to be repaired, which is can be costly. Luckily, there are two great ways to keep your appliances protected and your mind at rest – using Florida home warranty companies or considering the extended manufacturer’s warranty.

In this article, we want to look into the similarities and differences between appliance home warranties and extended warranties. To prevent confusion, let’s clarify these definitions. A home warranty is a type of insurance covering common repairs of different home systems and appliances in and around the house. On the other hand, an extended warranty is an option to prolonged manufacturer warranty that you get with a brand new item at the time of purchase. It goes into effect once the standard warranty on the product expires.

In the end, both are essentially the same: pay some sum of money to have a guarantee that your home appliance will be repaired or replaced during the coverage period. So, what is the best home appliance insurance in Florida? What are the pros and cons of the home warranty and the extended warranty? To answer these questions, we researched 16 home warranty companies in Florida and three extended warranty companies: Whirlpool, SquareTrade and Assurant Solutions.

Let’s Focus on the Differences

• Number of Companies

There are 29 Florida home warranty companies that offer appliance plans specifically designed to cover repairs of household appliances. However, the selection of appliance extended warranty companies in Florida is pretty limited. Typically, you can get it via manufacture or a marketplace where the appliance is purchased. The home warranty option is very popular among Floridians.

• Plans

With a home warranty, you can compare home warranty plans by the level of coverage to choose the best one. Home warranty companies usually propose either a designated appliance plan or a combo plan, as well as covering common systems in your home. For example, Select Home Warranty offers a plan which only includes home appliances. According to our study, there are on average three plans offered by a home warranty and only one offered by an extended warranty.

• Duration

Do home appliance warranties and extended warranties in Florida have the same coverage period? The typical duration of a home protection plan is 12-14 months. For the appliance extended warranty, the coverage is offered for 12-60 months, depending on the company. You should also know that the home warranty coverage is usually extended until cancelled, while the extended warranty has limited options to be extended.

• Price

This is probably the most important category: the price! We conducted a study and found that the median cost of the Florida home warranty plan is $524 while the cheapest home warranty plan costs $393. The median cost for the extended warranty is higher, at $562. However, the extended warranty has a wider price range than a home warranty.

Another important point is deductible. Two of the three extended warranty companies have no deductible and one has a $50 deductible. As for home warranty companies, deductibles range from $0 to $100, with the most typical value of $60.

• Used Appliances

All home warranty companies offer a plan to cover your existing appliances while the extended warranty is typically applicable when you buy a new appliance.

• Customers’ Feedback

For both the extended warranty and home warranty, online ratings are low. This is a known phenomenon since satisfied customers for these type of companies usually don’t leave reviews, but unsatisfied ones do. However, we should note that ratings were slightly higher for the extended warranty services.

• Some Other Facts

Only 1 of 16 selected home warranty companies in Florida offers a fully customized plan to select the appliance list. Another 7 home warranty companies offer limited add-on options for selected appliances. The remaining 8 companies only allow purchasing a package deal.

So, which appliance insurance should you choose?

What would be the best appliance insurance for you depends on your needs. It’s up to you: you could either choose the best home warranty in Florida from companies like Choice Home Warranty, Select Home Warranty, Total Home Protection, etc. or decide to opt for an appliance extended warranty.

We recommend that you consider an appliance extended warranty if you are interested in insuring one or two items in your house. For those customers who prefer to preserve their peace of mind by covering as many items as possible, home warranty companies will offer complete appliance protection.