It’s not your imagination—home appliances really aren’t built like they used to be. In fact, studies show that the average lifespan of appliances like washing machines and ovens has dropped by nearly 40% over the past few decades.
What’s behind the decline? Industry sources point to increases in computerization and the quantity of individual components as well as flimsier materials for the reduction in durability, even for higher-end items.
Homeowners are purchasing appliances with more high-tech features, which become obsolete sooner and lead to more repairs, resulting in a shortened upgrade cycle. In fact, U.S. households spent 43% more on home appliances in 2023 than in 2013, according to Euromonitor International, even while U.S. Labor Department data shows that prices declined 12% during this time.
Rising Repair Bills
At the same time, the costs to repair these appliances and systems have increased, especially in the higher inflation environment for parts and labor that set in following the Covid-19 pandemic.
Technicians note that a new refrigerator or washing machine has more sensors and switches than items 10 years ago. These extra components may help ensure energy and water efficiency but open more possibilities for breakdowns.
When a more complex appliance fails, technicians have a harder time diagnosing the problem, and when they do, consumers often face repair estimates that exceed half the cost of a new appliance, shortening the replacement cycle.
The Home Warranty Solution
With the potential for thousands of dollars to repair or replace important home systems and appliances, more homeowners are turning to a home warranty service agreement to protect their finances.
Westwood’s plans let you choose whether to cover only your kitchen appliances, add vital home systems, or go with a comprehensive plan that covers just about every appliance and system in your home.
Contact Westwood today to make sure you have the protection you need.
Please Note: This article is for general informational and educational purposes only. It does not represent any specific insurance policy and does not modify any provisions, limitations, or exclusions of any current policy.
