Home and kitchen appliance insurance can save you thousands if something goes wrong.
Appliances (big and small) in the average Aussie home can add up to tens of thousands of dollars. Home insurance can help you protect them.
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Between electronics, kitchen equipment and whitegoods, the total cash value of our home and kitchen appliances stacks up quickly.
Whichever appliances you value the most – an 8K flat-screen TV, a luxe food processor or a showpiece sound system – home and contents insurance or contents insurance can help you repair or replace them if bad luck hits.
Compare policies to get cover for home and kitchen appliances
Once you've tallied up the value of your home and kitchen appliances, this table – plus the relevant fine print in the product disclosure statements (PDS) – will help you find the right option for you.
What does home and kitchen appliance insurance cover?
Home insurance will give you broader protection than warranties, generally including cover for the following (among other things):
- Water damage from floods and escape of liquid from your plumbing system
- Lightning and storm damage
- Theft, attempted theft and vandalism
- Impact damage (e.g. from falling trees or branches)
When you're researching policies, check out the upper limits the insurer pays out for appliances, individually and in total, and what the appliances will and won't be covered against.
Some general exclusions to home and kitchen appliance insurance
There can be exclusions to home and kitchen appliance insurance in the following circumstances:
- An appliance is over a certain age (e.g. 10 years)
- You use the appliance for business
- The appliance isn't at the insured address. (If you want to insure a device you take out of the house a lot (e.g. a Nintendo Switch), think about portable contents insurance)
If you only want to insure a few high-value appliances (e.g. if you're renting), you could consider single item insurance.
Optional extras you can add-on to your home and kitchen appliance insurance
Based on what you find – and what you want to insure – you may want to add the following optional extras to your standard policy:
- Accidental damage cover (e.g. for a cracked TV screen) – this will be included in some standard home and contents policies but not others
- Motor burnout cover (e.g. for your fridge, TV, dishwasher and clothes washer and dryer)
- Specified contents insurance (for appliances with values higher than the upper limits the standard policy pays out for them)
To help you calculate the value of your home and kitchen appliances, we'll walk you through an average home so you can see just how much money can actually surround you. It could be worth protecting.
The living room
To get an idea of the value of the appliances people use at home, let's take a room-by-room tour through a family's house (and assume they buy mid-range appliances).
The living room, where some of the highest-value gear is likely to be, is a good place to start. In the living room, you could find the following:
- TV – $1,500
- PlayStation or Xbox – $400
- Sound system/speakers – $1,000
- Google Nest – $150
- Streaming media players/services (e.g. Google Chromecast or Apple TV) – $250
- Smart lights – $300
- Total – $3,600
When you're insuring your living room appliances, think about whether you need the following extra cover:
- Accidental damage insurance (because those brand-new Sonos speakers aren't immune to falls)
- Motor burnout insurance, which can cover motors in various appliances that burn out because of a power surge, lightning or something else.
- Dishwasher – $1,200
- Microwave – $350
- Fridge – $2,000
- Miscellaneous kitchen appliances (e.g. coffee machine, toaster, blender, juicer, slow cooker, food processor, rice cooker and pasta maker) – $1,500
- Total – $5,050
- Air conditioner – $700
- Laptop – $2,000
- Smart speakers – $150
- Kindle – $350
- Second TV – $850
- Nintendo Switch × 2 (assuming both kids badgered the parents until they got one) – $900
- Total – $4,950
- Desktop computer - $2,500
- Total – $2,500
- Hair straightener – $250
- Hair dryer – $80
- Electric shaver – $150
- Electric toothbrushes × 2 – $350
- Bathroom heater – $300
- Heated towel rail – $450
- Total – $1,580
- Vacuum cleaner – $650
- Washing machine (9 kg) – $1,500
- Dryer – $1,800
- Total – $3,950
Let's move into the kitchen, home of high-value whitegoods and cooking helpers:
Given the expense of repairing kitchen appliances and the value of what's in their kitchen, this family would be relieved they'd insured it if anything went wrong. If it did, they could even be covered for any food that spoiled in a damaged fridge or freezer.
Again, motor burnout coverage can give you extra protection in the kitchen in case of motor issues with your dishwasher, fridge or microwave.
In the bedrooms, we could find the following:
The home office
We'll assume this office is only used for work, and it's only appliance is a $2,500 desktop computer.
Even the bathroom has its fair share of appliances:
In the laundry, you'll find a few high-value appliances:
For this family, the total value of their home and kitchen appliances comes to over $20,000 (!).
Here's the bottom line
When you crunch the numbers, the value of your home and kitchen appliances is probably higher than you realise – so it's important to make sure your home insurance is giving them the cover they deserve.
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