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Are Appliance Extended Warranties Worth It? Usually Not — Here’s the Math

Why consumer advocates consistently advise skipping extended warranties, and the self-insurance strategy that beats them.

The consensus

Consumer Reports has advised against extended warranties for years, and owner forums largely agree: most plans cost $100–$300 per appliance, most appliances don’t fail inside the covered window, and claims often exclude the expensive failures (sealed systems, boards) or the convenient remedies.

The window problem

Manufacturer warranties already cover year one, and lifespan data says most failures cluster late — years 8–13 for refrigerators, past the typical 3–5 year extended plan. You’re buying coverage for the years the machine is least likely to break.

Self-insure instead

Bank what you’d spend on plans across your kitchen and laundry — commonly $500–$1,000 — into a household repair fund. The averages strongly favor you: one $250 repair against years of premiums. Pair it with the free reliability lever: buy the simple, repairable machine in the first place.

The exceptions

Feature-dense appliances with known board issues, heavy-use households, and landlords valuing predictable costs can rationally buy coverage — but read the exclusions, confirm who actually services claims locally, and check whether your credit card already extends the manufacturer warranty for free.

Frequently Asked Questions

  1. Are extended warranties on appliances worth buying? Usually not — plans cost $100–$300, most failures fall outside the covered window, and exclusions are common. A household repair fund typically beats them.
  2. What’s a better alternative to an extended warranty? Self-insure: save the premium money, maintain the appliance (worth 20–40% of lifespan), and use the 50% rule when something breaks.

Sources

  1. Consumer Reports — How to Make Your Washer and Dryer Last
  2. r/Appliances (owner discussions)
  3. First American — Appliance & Home System Lifespans (NAHB data)

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