You have heard of life insurance, and most probably even car insurance, but appliance insurance is a theme that might not be familiar to you. However, investing time in learning about appliance insurance can later save your hard-earned money on sudden and accidental events that cause damage. Here is a guide to finding the best appliance insurance policy.

What is home appliance insurance?
Apart from unexpected accidents, home appliance insurance covers expected wear and tear and doubles up as a warranty plan. Most home appliance insurances offer a standard package of specific devices. Naturally, the more expensive plans cover more items. Some applications like refrigerators have stand-alone policies. Specific systems like swimming pools or sump pumps can also be added as add-ons if you think they are risk-prone. Depending on which firm and level of coverage you choose, your home insurance will cost between $400 and $1,000 annually. Remember to ensure that the contract of your choice covers appliances at a higher risk of damage.

Top appliance insurers
Listed below are the top insurance agencies that offer appliance insurance. Consider the pros and cons carefully before making your final decision.

American Home Shield
With plans starting at $70 a month, American Home Shield (AHS) is a market veteran with 30 years of experience. Apart from the various appliance insurance plans, starting from basic combos to those including up to 21 devices, AHS also permits you to customize your plan, which costs about $75. The customizability makes the company have the most extensive coverage. It is also an industry leader, with a large number of customers sharing positive reviews. The company serves over two million households all across the nation. Another advantage of choosing AHS as your appliance insurer is that you can be content knowing you are supporting America’s best midsize employer. Those of you living in Alaska, however, will have to find a different firm. But for all the other states, AHS is undoubtedly the best company and should make it to your shortlist of appliance insurers.

Choice Home Warranty
While many insurance companies judge your home by age before offering you their plans, Choice Home Warranty does no such thing. The company, however, ensures that all covered devices are in working condition at the time of application of insurance. Those who have older homes or are unsure of the installation date of the appliances can use this firm’s plans, starting from $41.69 each month. This basic plan covers 14 home appliances, while the comprehensive plan, costing $50, covers 18 devices. You can also include stand-alone freezers and central vacuums as add-ons.

Select Home Warranty
Select is the best firm for those looking for affordable appliance insurances. It is one of the most budget-friendly options with low limits per claim and low service fee costs. Select’s most expensive Platinum Policy costs only $42 per month. While the cheaper policy sometimes excludes appliances like doorbells and smoke detectors, you can use the additional add-ons to ensure all the devices of your choice are covered. Select Home Warranty is also attractive as it offers services to clients across the country. Check out their website to get up to $150 off on the annual plans and avail of two months of free coverage.

First American
If you think your devices are accident-prone and you will need a plan that allows a higher number of service calls, First American Home Warranty is the right insurance provider for you. The basic plan, covering nine home appliances, will cost you only $37 each month, and the premier plan, covering all devices, is less than $50. An affordable yet comprehensive option, First American, is liberal with its limits. The limit varies from appliance to appliance, ranging between $500 and $3,000. You will also be happy to know that the company funds a replacement if the firm cannot repair your device.