Let me set the scene. You have just visited your local appliance store and formulated a quote. Perhaps, the salesperson was nice enough to put their “best price” he can offer you and actually put it on paper.
You need time to research options, reliability, and other stores (as you should).
Then you get the call.
At a Glance
- Who Sells 10-Year Appliance Warranties?
- How Much Does a 10-Year
Appliance Warranty Cost a Dealer?
- What Does a 10-Year Appliance Warranty Cover?
- Who Will Fix Your Appliance in 7-10 years?
- Is a 10-Year Appliance Warranty a Good Deal?
- What You Need to Know About
- Why You Should Trust Us?
If you take the deal right now, you will get a free 10-year warranty on your appliances. Sounds great, doesn’t it?
Until you have to use it. Or even remember you had it.
Then the fun begins.
In this article, you will learn the real cost of these warranties, who sells them, and how to get a true piece of mind (Hint: It’s not through most extended warranties). You will also learn when an extended warranty is actually worth considering.
Who Sells 10-Year Appliance Warranties?
The most heavily touted sellers of 10-year warranties are usually internet companies with no actual service department. They are selling a piece of paper as a piece of mind because that’s pretty much all it is.
How Much Does a 10-Year Appliance Warranty Cost a Dealer?
Typically, you see these sold at $49.99, so you would figure it would cost between $25-30 to the dealers.
The reality is this: It costs a dealer $4 to give you that warranty.
So, why is it so cheap?
Well, it doesn’t cover much, and you will probably forget you have a warranty anyway. If you do remember, redemption will be even worse than even regular extended warranties.
What Does a 10-Year Appliance Warranty Cover?
Well not much as it turns out. It covers not much other than the cost of a part. Have a Look
In other words, you are paying for the diagnosis, the removal of the old part, and the installation of the new part.
For many repairs, that is way more than just paying for one part. If it isn’t, it will certainly be by the time you finish paying for the service call.
Who Will Fix Your Appliance in 7-10 years?
Mostly internet companies with no service departments sell these warranties as we have previously stated. You will be relying on a network of independent servicers to fix your appliances.
You may want to check to see if these companies even exist in your area. When they do, your price for diagnosis, installation, and removal will be way more because they will not be charging for parts.
Should You Accept a Free 10-Year Appliance Warranty?
It depends on who offers the warranty.
If it is a store with a service department, then it is a solid offer. Although they will be relying on breakage (you forgetting about the warranty), they will still have the means or in this case service people to fix that product.
Last year, we completed 30,761 service calls. There is no way to offer a free 10-year parts warranty without losing a ton of money.
It’s easier when you have no intentions or means of providing a decent service.
You probably want an extended warranty as a means of a piece of mind. However, the only way to achieve a piece of mind is to do your research before you buy.
Do your homework.
Read reviews of other peoples delivery, installation, and service experience before you spend your hard earned money.
Anyone can sell an appliance. Delivery is hard. Installation is harder, but service and finding capable technicians is by far the hardest.
Please don’t rely on a piece of paper.
What You Need to Know About Manufacturer’s Warranties
This should not be confused with manufacturers warranties.
There are some manufacturers with longer warranties. Speed Queen has a 7-year warranty for their newer laundry machines. Sub-Zero has a 12-year warranty for their refrigerator compressors.
Some are good. Sub-Zero pays a fair labor rate. Typically, their service will be better because the service tech can actually earn a living.
Many brands commoditize service and pay low labor rates. Although it keeps their expenses down, you will either have problems finding service or capable technicians.
Once again, do your homework on the brands as well as the retailers to find out what the repair experience will be.
In a kitchen full of new appliances, you will statistically need repair within the first year.
Why Should You Trust Us
A few review sites have placed this at the bottom of their articles. So here is our take:
Our mission is to find reliable products for you to buy. Other review sites may say this as well.
However, we don’t love every product. Quite frankly, it costs us way too much money in repair costs to support less reliable brands.
In fact, we sell fewer brands than most appliance stores. Here is why:
We feel it is our responsibility to repair your appliances after you buy them.
We now have 30 service technicians, each averaging 8-10 calls a day Monday through Friday, plus another 110 on Saturday. That's over 30,000 service calls logged in one year.
The labor rates of fixing an appliance do not come close to the true cost in any product’s warranty period.
That is why no major retailer has a service department. It costs too much labor, money and time.
Our Blog is a bit different than most others you will read. We cannot write glowing reviews of unreliable products.
Hopefully, the bloggers and organizations who write such glowing product reviews for every brand consider servicing these products first. Only then they will understand the consequences of their marketing.
Download our Appliance Buying Guide with features, specs and inside buying tips to every major brand. Well over 355,000 people have read a Yale Guide.
My goal has always been simple: I want Yale to be the best retail experience anywhere. I have tried to create a compelling environment for customers and employees alike.
A Note About Pricing