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amother
OP
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Mon, May 16 2022, 12:37 pm
I bought appliances a little under a year ago, and am thinking about getting warranties now that the one from the manufacturer is going to end.
Does anyone have any experience with Assurant vs New Leaf?
Any other input suggestions comments etc about appliance warranties is welcome too!
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Amarante
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Mon, May 16 2022, 1:22 pm
Generally not worth the money. They are a huge profit center for the companies.
You only insure against expenses that are large like for a car.
You are much better off putting the money you would have spent in premiums into the bank and then using it if you need a repair.
My appliances are now over three years old and have never needed a repair.
Even if you use it because you need a repair, there are often issues because you are limited to whatever repair people they have a contract with and these people might not be the best or might not be available as quickly as you might like. Or the company will claim that something is not covered because of a loophole.
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Chayalle
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Mon, May 16 2022, 1:24 pm
I got a warranty with New Leaf. I had a problem with my oven, and it took them two weeks to come. They came and said I need a part, and it took another two weeks to get it in. I had to manage without that oven for a month! Had I known it would take that long, I would've paid an appliance repairman. And wouldn't have bothered with the warranty to begin with.....
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amother
OP
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Mon, May 16 2022, 2:36 pm
Amarante wrote: | Generally not worth the money. They are a huge profit center for the companies.
You only insure against expenses that are large like for a car.
You are much better off putting the money you would have spent in premiums into the bank and then using it if you need a repair.
My appliances are now over three years old and have never needed a repair.
Even if you use it because you need a repair, there are often issues because you are limited to whatever repair people they have a contract with and these people might not be the best or might not be available as quickly as you might like. Or the company will claim that something is not covered because of a loophole. |
It's about $300 for 5 years. Assuming the warrantee company actually does their job, it's not crazy expensive and will probably be worth it if anything breaks.
Last time I got a warrantee was from the store I ordered it from, and my fridge broke a few times and each time I called they came the next time and fixed it for free.
But I moved, so that store is irrelevant now.
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amother
OP
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Mon, May 16 2022, 2:38 pm
Chayalle wrote: | I got a warranty with New Leaf. I had a problem with my oven, and it took them two weeks to come. They came and said I need a part, and it took another two weeks to get it in. I had to manage without that oven for a month! Had I known it would take that long, I would've paid an appliance repairman. And wouldn't have bothered with the warranty to begin with..... |
Thank you for that information! I never heard of them, but the store I bought from sells warrantees from them.
Assurant contacted me directly. They are slightly cheaper and allow you to pay in installments. Just not sure if it's worth doing altogether. (If the appliances lasted a year does that mean they won't need to be fixed in the next 4? Lol)
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kenz
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Mon, May 16 2022, 2:47 pm
I have found appliance warrantees to be very worth it, have had a dishwasher and washing machine fixed several times for free, and generally if you don’t use the warranty you get a percentage of the $ back at the end.
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amother
OP
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Mon, May 16 2022, 3:46 pm
kenz wrote: | I have found appliance warrantees to be very worth it, have had a dishwasher and washing machine fixed several times for free, and generally if you don’t use the warranty you get a percentage of the $ back at the end. |
Is the percentage back from a certain warranty company?
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amother
Ivory
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Mon, May 16 2022, 3:50 pm
We had a different company, but totally refusing to pay up
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kenz
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Mon, May 16 2022, 4:04 pm
amother [ OP ] wrote: | Is the percentage back from a certain warranty company? |
You have to find out when you sign up, I had it from a couple of different companies. I honestly don't remember which, I never got it back b/c I always used the warranty for repairs. I know my fridge has a warranty from a company called Brand, I believe, and so far I haven't used that one so I might actually get some money back in the end. They make a lot of money that way b/c most people forget to follow up once the warranty is up.
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amother
Sand
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Mon, May 16 2022, 4:59 pm
U can look into sears appliance or whole home warranty
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amother
Skyblue
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Mon, May 16 2022, 5:08 pm
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amother
OP
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Mon, May 16 2022, 5:50 pm
amother [ Skyblue ] wrote: | Definitely worth it |
Thanks!
Any specific company you had a good experience with?
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amother
Cobalt
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Mon, May 16 2022, 5:53 pm
I used to think it’s worth it but not anymore. They used to fix and replace things.
Recently had a microwave break. They sent guys down 3 times to look at it. Tried to fix it once.
Prorated the amount of money o got bec of how old the microwave was and it was less money then I paid for the warranty. And it took me 3 months to get the check.
The appliance store I buy from used to push warranties but not anymore. They said they just got bad.
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