How To Beat The High Cost Of
Appliance Repair
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
welcomed inevitable.
Want to know more about the benefits of owning an extended service plan? Visit
our site or call us at 800.833.8801.
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