How To Beat The High Cost Of Appliance Repair

By: Jeff Hatch

April 05, 2017

It’s inevitable. No matter how well your home appliances are built, at some point they will reach their life expectancy and stop working. So can you afford to be without yours for long? Do you have a backup plan in place? And, more importantly, do you have enough money saved up to cover the repair or replacement?

According to Home Advisor, the average cost to repair an appliance is $170. But prices can vary greatly once you include such variables as the make, model and age of your appliance, as well as parts, labor and applicable service fees. For more accurate pricing, you can visit Home Advisor’s site to search by location or use the figures listed below as a rough estimate of what you might expect to pay per appliance. 

Average Repair Costs

Air Conditioner $200-400

Clothes Dryer $100-400

Dishwasher $100-200

Furnace $100-130

Microwave $75-150

Range/Oven $400-700

Refrigerator $200-400

Washing Machine $120-500

Water Heater $90-110

Now consider your own budget. If you have enough money set aside to cover all of the above, then you’re probably not too concerned. However, a recent survey by GoBankingRates showed that 69% of all Americans have less than $1,000 in savings. So if you fall in that category and suddenly find yourself without something as important as your refrigerator, the problem can go from bad to worse. There’s the added stress of having to spend your time being forced to go out to eat and the increased frustration of losing even more money due to food spoilage.    

So how do you avoid this scenario? “While some maintain consumers should put aside cash for repairs and replacement of essential electronic products or appliances, it is not possible or practical in today’s economy,” says Timothy J. Meenan, Executive Director of the Service Contract Industry Council. “An extended warranty [service plan] can help consumers manage unanticipated, unbudgeted expenses.”

It’s worth noting that just one service call can more than make up the price of an extended service plan. That fact alone makes it worth owning one. But when you consider that an extended service plan also provides you with added peace of mind, immediate assistance and may even cover ancillary damage such as food loss, suddenly it becomes an invaluable, yet inexpensive plan to help you manage the unwelcomed inevitable.  

Want to know more about the benefits of owning an extended service plan? Visit our site or call us at 800.833.8801.

Filed Under: appliance, budget, consumers, costs, extended, plan, repair, service

Top 10 Reasons To Purchase An Extended Service Plan

By: Jeff Hatch

September 10, 2015

1. Allows customers to prepare for the unexpected and possibly avoid having to pay for any large, unforeseen repair bills.
 
2. Convenient, efficient and stress free, it takes away anxiety consumers might have should something go wrong with their purchase.
 
3. Affordable and costs a fraction of what one might typically pay for a new replacement.
 
4. Saves time as customers no longer have to search for a repair company to fix their damaged merchandise.
 
5. If a covered product is not repairable, it could be replaced with a new model.
 
6. Consumer products have become more complex and contain more electronics than they did just 10 years ago, which makes an extended service contract even more valuable to have.
 
7. As a value-added benefit, numerous service contracts provide toll-free call center support for immediate help with in-home repair and questions about covered products.
 
8. Some OEM warranties offer limited protection, which can be supplemented with an extended service contract once the warranty expires. 
 
9. Electronic products have become more mobile over the years, which means that they can be more susceptible to accidental damage from typical everyday use. 
 
10. Many service plans offer on-site repair for added convenience.
 
Visit warrantech.com to learn more about our extended service plans and how they can benefit you.  

Filed Under: affordable, consumers, contract, convenience, extended, service

Warrantech Featured In Dealerscope Magazine

By: Jeff Hatch

March 18, 2015

Sean Stapleton, president & CEO of Warrantech, recently spoke with Dealerscope magazine regarding current company initiatives. Here’s an excerpt of what he had to say in “Making the Warranty Connection,” which explores how “extended service plans are resonating more than ever with cash-careful consumers” and how Warrantech intends to give them and retailers the best deal for their money.   

Warrantech plans to expand its successful monthly protection program offered through our retail partners. The existing program, which provides monthly billing solutions for mobile device protection, is being expanded to offer comprehensive protection options for an extensive array of equipment owned by customers, regardless of where it was purchased. 

By enrolling in the program, customers will enjoy additional benefits for products purchased through the retail partner, including disappearing deductibles and in-store service. The goal is to drive both recurring protection plan sales and traffic to the participating retail partner’s stores. The enhanced offering, known as our Loyalty by Warranty™ program, will provide retailers with an innovative way to increase both revenue and customer loyalty.  

Visit dealerscope.com to read the article in its entirety and for more industry insight. 

And be sure to follow Warrantech on Facebook, Twitter and LinkedIn so you can keep up to date on company initiatives as they happen. 

Filed Under: consumers, Dealerscope, loyalty, mobile, products, program, protection, retailers, revenue, service, warranty, week