Homeowners Appliance Insurance

Homeowners appliance insurance is not the same as the appliance's warranty, but instead will cover it long after a warranty has expired. An insurance carrier that sells warranty insurance will not cover the same types of recovery events as the homeowner appliance insurance; only those repairs needed while under warranty. Everyone who owns a home should read their policy and be aware if their property damage coverage is sufficient or if a "floater" needs to be added to cover the extras left unsecured in the basic policy.

There are several specific damaging events that typically are covered. The homeowners appliance insurance will cover the following incidents if the policy includes property damages such as; sudden and accidental tearing asunder, cracking, burning, or bulging of a steam or hot water heating system of appliances for heating water; accidental discharge, leakage, or overflow of water or steam from within a plumbing, heating, or air-conditioning system or domestic appliance; freezing of plumbing, heating, and air-conditioning systems and domestic appliances; sudden and accidental injury from artificially generated currents to electrical appliance, devices, fixtures, and wiring. People should note that in almost all cases of policies, TV and radio tubes are not included in the coverage.

In most policies, the total amount of coverage within the policy for household goods is 50 percent of the total real property coverage. If a person's personal property is away from home (for instance when you're on vacation), it is usually covered for up to 10 percent of the insured property on the premises. This is included in the same coverage as other personal property. The smart thing for a home owner to do when reviewing homeowner appliance insurance is to inventory all personal property, especially appliances, with date of purchase, cost, and place of purchase. This inventory will be critical when filing for damages in the case of a loss.

However, most policies don't include loss of property from vandalism or malicious mischief if a house has been without residents for 30 days before the loss. For example, this clause would apply if someone moved from their house to a new house before the old one was sold. Also, most homeowner appliance insurance policies don't cover any part of the house used for a home-based business or the tools of a trade. The regular homeowners appliance insurance policy will not cover these items nor the space used to work. These must be insured through a separate policy or an endorsement to the homeowners appliance insurance called a "floater."

The best homeowners appliance insurance or home protection plan for anyone is the security of knowing that their appliances and other personal property are only temporary anyway. They are for temporary use and the Christian won't place so much value in such things to be devastated in the event of their loss or need for repair. "Lay not up for yourselves treasures upon earth, where thieves break through and steal: but lay up for yourselves treasures in heaven,...for where your treasure is, there will be your heart also." (Matthew 6:19-22)

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