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What to Consider Before Renewing Your Appliance Repair Plan

What to Consider Before Renewing Your Appliance Repair Plan


Home repairs come around when you least expect them. Your appliances work well one day and are suddenly out of service the next. And when a major appliance isn’t working, you don’t want to wait long for it to be fixed. Having reliable technicians to address appliance repairs is the main benefit of an Appliance Repair Plan. But, these plans do expire. So when the time comes to renew your plan, ask these questions.

What kind of new coverage options can be provided with an Appliance Repair Plan?

Oftentimes, renewing your Appliance Repair Plan is a simple process (and done automatically for you--see below). But at the time of renewal, you should consider if the existing coverage is meeting your unique needs. Do you experience harsh winters? If so, is your furnace covered? Likewise, if you have unbearably hot and humid summers, make sure you have coverage for your cooling system.

Another consideration is the age and condition of your appliances. Although they may be in good working order now, as they age, they become more susceptible to problems. Many Appliance Repair Plans will offer additional coverage to help with preventative maintenance. And in the case that an appliance becomes non-repairable, they may have a plan for that too. These small investments will pay off and should be considered at renewal time.

For example, if your water heater is nearing its life expectancy--which according to the National Association of Certified Home Inspectors is around 10 years--it may be prudent to add additional coverage knowing that your appliance is entering a time period where issues or insolvency are expected. A nominal monthly investment over the course of a few years will ease the financial pain when a new appliance purchase is needed.

See HomeSmart’s Replacement Helper plan and reimbursement amounts for purchasing a new appliance.

Does my appliance repair plan renew automatically?

Often, you may not have to do anything to renew your Appliance Repair Plan as it will renew automatically. Ensuring the fact that your appliances are never without coverage. This is a great protection and convenience feature. The loss of your furnace in the middle of winter would be much worse when you learn that your coverage ended four weeks ago.

Be sure to check the terms and conditions to ensure that your coverage renews automatically. If you have an Appliance Repair Plan from HomeSmart, rest assured, as your coverage renews at the end of each term. Meaning that you will not have a lapse in coverage.

Will I be moving in the next year?

If you are planning to move in the next year, it is understandable that cancelling your appliance repair plan is an option. Since in most cases your appliances will not be moving with you so why continue paying for them. But, if you have a HomeSmart from Xcel Energy Appliance Repair Plan, your plan can be transferred to a new address within their coverage area.

If you do move, however, make sure that coverage is provided at your new location. There are limits on how far each company can provide service. So it is best to check their coverage area if you are planning to move. HomeSmart from Xcel Energy Service Areas.

Check out HomeSmart from Xcel Energy Appliance Repair Plans to find the right fit for you. You don’t want to wait long when you are without the convenience of having a dishwasher or washer and dryer. Other appliances, like a refrigerator or HVAC system, are more than just an inconvenience when they are broken. They can leave your family without safe food or a warm home. Appliance repair plans provide peace of mind that reliable technicians are a phone call away.

Related Article: Are Appliance Repair Plans Worth the Money?