The New Math: Why Home Warranty Plans Make More (Dollars and) Sense Than Ever
Ah, the joys of home ownership. Sometimes it seems that as soon as you fix one thing, some other item threatens to break. Appliance repairs and replacements can be time-consuming and costly, which is why having a home appliance warranty is an especially cost-effective move these days. A recent nationwide survey conducted by TotalProtect® revealed that 65 percent of home owners had a major home appliance or system repaired or replaced in 2012 for not just a pretty penny. Our company surveyed a total of 1059 homeowners, who, on average, spent $800 in repairs and — brace yourselves — a whopping $1200 in replacements. To pinch those wallets even further, more than one-third of these homeowners had both a repair AND a replacement last year. Ouch!
The most common item in need of a fix? Air conditioners. As summer rapidly approaches, that news might give you the shivers. Just more than 18 percent of survey takers needed to repair their air conditioning system. The runner up was plumbing systems, which 14 percent of respondents had repaired. Rounding out the repair list was heating systems at 12 percent, washers at 11 percent, water heaters at 10 percent, and dryers at 8 percent.
On the replacements list, washers clocked in at the top of the survey, with 10 percent of respondents needing this indispensable item replaced. Water heaters, air conditioners and dryers were replaced by 9 percent of those surveyed, while dishwashers and refrigerators were replaced by 8 percent.
So what do all these numbers add up to? Well, if you have TotalProtect® home warranty coverage, you can breathe a sigh of relief. With our comprehensive plans, we offer a complete package that protects your appliances and systems for just a low monthly fee and a flat-rate co-pay1 for service visits. Plus, you’ll never have to go through the hassle of finding a reliable service provider (a concern that more than half of our survey responders said was their top worry) because we have a nationwide network of qualified, courteous professionals to promptly dispatch for any calls.
Additionally, in these busy spring and summer months, TotalProtect® expands our staff, opening a host of new positions, especially in customer service and authorizations, so that we can easily meet your needs at our call centers 24 hours a day, 7 days a week.
Yes, when it comes to repairs and replacements, TotalProtect® home warranty customers have it easy as 1-2-3.
The information in this article is intended to provide guidance on the proper maintenance and care of systems and appliances in the home. Not all of the topics mentioned are covered by our home warranty or maintenance plans. Please review your home warranty contract carefully to understand your coverage.