Fridge Freezer Insurance: Do You Need It?

Your refrigerator and freezer are hubs in your kitchen; they can also be pricey. While a basic version costs about $1,500, higher-end models can cost $12,000 or more.1 2

Fridge freezer insurance is an optional form of coverage that helps with the cost of repairing or replacing your appliance if it breaks down unexpectedly.

For cash-strapped new homeowners or people with older appliances, a fridge freezer policy can prevent unexpected (and costly) surprises after the manufacturer’s warranty expires.

What is fridge freezer insurance?

Fridge freezer insurance is a type of protection specifically for a kitchen appliance. It helps with the cost of repairing or replacing your refrigerator if it stops working due to a covered reason, such as a power surge or a mechanical failure.

While a new appliance usually has a manufacturer’s warranty, fridge freezer insurance can provide protection for years after the original warranty ends.

You can get coverage for your refrigerator and freezer in four ways:

• Warranty purchased through a manufacturer: Some manufacturers, such as GE, Samsung, and Whirlpool, offer extended warranties that you can purchase for a specific appliance.

• Protection plan purchased through a retailer: When you buy a new refrigerator from a retailer like Home Depot or Lowe’s, you can often buy a fridge freezer policy through the retailer.

• Part of a home warranty or home appliance insurance policy: Home warranties and home appliance insurance policies cover multiple appliances and home systems for one monthly or annual fee.

• An equipment breakdown endorsement added to homeowners insurance: If you have a homeowners insurance policy, you may be able to add an equipment breakdown endorsement to your coverage. These endorsements pay to repair or replace appliances if they break for covered reasons, such as electrical failures.

The coverage that manufacturer and retailer warranties and home warranties provide tends to be more comprehensive than the coverage an equipment breakdown endorsement provides. You can see how these options compare in the table below.

Do you need fridge freezer insurance?

Not everyone needs fridge freezer insurance, but it can come in handy in the following scenarios:

• You just bought a pricey refrigerator. Some premium or high-end brands, such as Thermador or Viking, can cost $5,000 to $15,000. Along with their high sticker price, they can be costly to repair, and the parts can be expensive, so a fridge freezer policy can be useful.

• You’re a new homeowner. If you just bought a new home, you may have drained your savings account to cover the down payment and moving costs, and you may not have much extra cash to cover unexpected repairs. When you don’t have a large financial cushion, fridge freezer insurance can provide some peace of mind.

• You have an older appliance. If you have an older but functional refrigerator and freezer, having a fridge freezer insurance policy can help offset the cost of repairs.

You may not need fridge freezer protection if you plan on updating or replacing your appliances in the near future, if you have a lower-cost model, or if a robust manufacturer warranty still covers your refrigerator.

What fridge freezer insurance covers

Although exact coverages and exclusions depend on the type of coverage you purchase and the provider, fridge freezer insurance policies usually cover the following issues:

• Damages related to mechanical or electrical failures

• Sudden malfunctions of internal parts, such as faulty condensers or evaporator fans

• Replacement if the unit can’t be fixed

• Coverage for spoiled food if the refrigerator or freezer breaks

Some plans will also cover “no lemon protection,” meaning if your refrigerator has several repair events for covered reasons within a specific period, such as three events in 12 months, the policy will pay to replace the refrigerator.

Plans may have a service fee and a deductible for each service visit. And the policy may have coverage maximums per appliance, such as $1,000.

What fridge freezer insurance doesn’t cover

Although fridge freezer insurance can be helpful, it doesn’t cover everything, particularly damage related to faulty installation and wear and tear. Although specifics vary by policy, these are some of the most common exclusions:

• Cosmetic damage

• Theft or vandalism

• Wear and tear

• Damages related to faulty installation or repairs

• Damages related to add-ons or upgrades purchased separately

• Acts of God, such as weather-related damage

• Damages caused by insects or rodent damage, such as chewed cords

• Appliances that exceed the company’s age limits

Before purchasing a policy or filing a claim, read the policy’s fine print to learn exactly what it covers (and what it doesn’t). Understanding the ins and outs of your coverage will help you avoid frustrations later.

Does home insurance cover your fridge freezer?

Homeowners insurance can cover your refrigerator and freezer if a named peril, such as a fire, hurricane, or theft, damages them. But homeowners insurance doesn’t cover appliances that break down due to age, mechanical malfunctions, or faulty wiring.

Some homeowners insurance policies allow you to add equipment breakdown endorsements to your policy. These add-ons provide some coverage against damage related to power surges or other major issues, but they tend to be more limited than fridge freezer policies.

Fridge freezer insurance cost

The cost depends on the type of fridge freezer insurance you choose, but here are some general ranges for the different kinds of coverage:

• Manufacturer policies: $4 to $12 per month

• Retailer policies: $3 to $45 per month

• Home warranties: $30 to $50 per month

• Equipment breakdown endorsements: $50 to $100 per year (on top of your existing homeowners insurance premiums)

Your cost may vary based on the following factors:

• The age and brand of the appliance

• The type of protection you choose

• Selected service fee or deductible

• Whether it includes food spoilage reimbursement

It’s a good idea to shop around and compare multiple policies to find the best coverage that fits your budget.

Where to buy fridge freezer insurance

When you purchase a new appliance, you have a few ways to get coverage:

• At the retailer: If you purchase your appliance from a major retailer — like Best Buy, Home Depot, or Lowe’s — you can usually buy fridge freezer insurance directly from the retailer. You can buy protection online at checkout or even at the cash register if you buy in person.

• From the manufacturer: Many manufacturers allow you to buy a protection plan or fridge freeze insurance online or over the phone. You can contact the manufacturer directly and get coverage beyond the initial warranty, regardless of where you purchased the item.

• Through a third-party provider: If you want one policy to cover all your home’s components and appliances, you can purchase a policy through a home warranty company.

• From your homeowners insurance company: Contact your insurance agent and ask if you can add an equipment breakdown endorsement to your policy.

Is fridge freezer insurance worth it?

A fridge freezer insurance policy can be a useful safety net, but it’s an added expense. It can be worth the investment in the following scenarios:

• You buy a high-end or premium brand refrigerator and freezer that’s expensive to repair.

• You don’t have a substantial emergency fund to cover repairs.

• You have an aging appliance or one with past issues.

Compare the cost of a fridge freezer policy with typical repair costs in your area. If parts and labor tend to be expensive, an insurance policy may be well worth the price.

But this type of coverage has some downsides. Fridge freezer policies have monthly or annual premiums, and you may have service fees for each visit. The claims process can also be time-consuming. If you have an established safety net in a savings account and can afford to repair or replace an appliance out of pocket, skipping added coverage may be a financially savvy decision.

Fridge freezer insurance FAQs