Home Depot is one of the big names in home improvement, so you're likely to purchase or at least look at an appliance there. Since these sorts of investments can be costly, you want to keep your washer, dryer, refrigerator, or any other primary device in top shape. Quality products can reduce your chances of needing a repair, but even the highest quality products can have issues.
Thankfully, your factory warranty will help you out with problems for the beginning of your appliance's lifetime. This coverage means you have a way to handle unexpected yet necessary repairs. However, the length of these plans is usually only a small fraction of the lifespan of a major appliance, and problems can appear long past the factory policy's expiration date.
Having an extended coverage policy then helps you fill in the gaps where a factory warranty falls short, giving you several years' worth of protection, depending on the policy. Most in-store purchases cone with an associate reminding you that a warranty is an option, and you can easily purchase one online as well. But if you're picking up an appliance, is a Home Depot warranty something you need?
What Does A Home Depot Warranty Do?
Every brand provides different types of factory warranty coverage, but Home Depot's extended protection plans will be mostly the same, no matter what kind of policy you select. Yes, some factors do vary depending on the terms of your coverage, like the length, but overall you can expect the same level of coverage no matter which option you consider.
Home Depot warranties cover large groups of products, including their major appliance options. You do not need to buy a plan specific to what you are purchasing, so long as it falls into Home Depot's guidelines. While the coverage provided by your factory, the warranty will depend on the exact make and model.
While Home Depot's extended warranty plans last longer than a factory protection option, they do not cover every situation you may encounter. The types of repairs available are part of Home Depot's warranty guide and include cases like surge protection, food spoilage, and preventative parts maintenance reimbursement.
Some situations may provide you with partial reimbursements, such as cosmetic repairs that do not influence the appliance's functioning. There are also restrictions on which conditions that you can receive compensation from, such as if your home owner's insurance policy would cover the repairs. Other times where Home Depot will not reimburse you are:
While these and other exceptions exist, qualifying repairs do receive full reimbursement. Home Depot will even provide appliance replacement whenever it's not feasible to repair the issue. Depending on the circumstances, you may receive a new appliance or monetary reimbursement through a check or gift card. This amount will equal the initial purchase cost plus tax.
No Lemon Replacement
While it may seem like a strange term to see about household appliances, a "no lemon" policy refers to when a warranty provides replacements for repeatedly failing machines. These can go beyond standard factory warranties and help repair appliances that have broken down several times or parts that fail regularly. Home Depot offers this replacement standard.
Filling a Claim
All Home Depot warranty holders will receive the appropriate instructions for filing a claim on their extended protection plans. There is both an online form and a customer service call line that you can use to report any problems twenty-four seven. Home Depot will then evaluate your problem and proceed with the essential next steps.
You may expect to have either in-home or out of home repairs take place. In the former option, a technician will come to your home and inspect your appliance for repairs. Some problems can involve shipping your device to an authorized service center, of which Home Depot will cover the costs. Any replacements require you to surrender your original appliance back to Home Depot.
If you have a problem that occurs within your policy, but you don't have the time to file before your Home Depot warranty expires, you still have thirty days past the end of service date to submit your claim. Failing to meet this deadline can lead to not receiving any repair assistance or reimbursement, even if your policy provides it.
No matter what extended protection plan you select, you will not need to pay any form of deductible when filing a claim within the protections of your warranty.
Home Depot allows you to purchase a warranty within 90 days of your initial appliance purchase. You also have the choice of the length of your plan, which can be three or five years from the date of plan purchase. These plans only differ in their cost and expiration date—the level of coverage is otherwise the same, no matter which one you selected.
You can also renew your plan once your policy is ready to expire. You have fourteen days to sign up for a continued coverage plan. However, you may end up missing out on the repair window if you take too long to sign up anew. Once the two-week deadline has passed, you will likely not be able to purchase a replacement coverage plan.
You do not have a waiting period between the purchase of your Home Depot warranty and the activation of benefits; coverage begins immediately. It's important to remember, though, that any problems that arise before you purchase a protection plan will not qualify for repairs or reimbursement, which can cause troubles if you don't buy them both at the same time.
Fix-It Fast Guarantee
All extended protection plans from Home Depot come with a quick fix guarantee. Any repairs that are not complete by one week past your initial service visit qualify for a small reimbursement of $50.
Food Loss Reimbursement
While not applicable to all major appliances, Home Depot's terms and conditions outline a food loss reimbursement for refrigerators and freezers. This type of coverage means that, if a mechanical error leads to spoiled and lost food, you can receive compensation for those items. The lost food must not be due to an outside problem, like a power outage.
This level of coverage provides up to $300 in the event of lost food, with payment available once per claim.
No Claim Reward
A significant appliance warranty can help you handle unexpected problems, but you may reach the end of your policy without ever needing to make a claim. If that happens, Home Depot offers a no claim reward at the end of your service term. You will receive 30% of your warranty's total cost.
Home Depot allows you to cancel within ninety days of your initial purchase if you wish to receive a full refund. If you have used your benefits within this time, you will receive a reduced payment in return. Canceling past that ninety-day deadline means you will not be able to obtain a full refund, even if you haven't used your benefits.
Home Depot's two major appliance warranty plans are the three and five-year plans. Aside from the length of your policy, you can also expect the cost to depend on the price of the appliance you are covering.
The five-year protection plan is the more expensive of the two; if your appliance costs between $15 and $299, you can purchase coverage for $75. The price then increases with the cost of your product, with the highest amount being $295 for products that cost between $2000 and $10,000. For the three year plan, the prices range from $50 to $195, depending on your appliance.
If you are purchasing appliances in tandem (such as a washer and a dryer), you will need to get separate warranties for them both. You can, however, receive a discount on your coverage costs if you purchase multiple protection plans in store. This deal is not readily available for online purchases.
Home Depot has comparable prices to plans that provide similar coverage for lower cost appliances. However, if you compare it to some competitors, you'll start to see the difference in the higher price points. For example, the cost of a five year Lowe's coverage plan on an appliance that costs between $2000 and $6999.99 is $229.99, a fraction of the price of what Home Depot offers.
How It Compares
Despite the price discrepancies, a Home Depot policy holds about the same available benefits that you'll find in a Lowes policy. Home Depot even outpaces what Assurant Solutions offers. As it is, Home Depot offers the essentials to those who purchase the product, as well as some nice additions like the quick repair guarantee, no claim reward, and a decent lost food reimbursement amount.
However, even with these extras, Home Depot is missing out. If you need to send an appliance away for repairs or have a delay in service, some other policies will provide rental reimbursement coverage, equivalent to a percentage of your covered appliance's cost. These policies come into effect if repairs take longer than the listed timeframe.
In some cases, it can even be an option to skip taking on an extended coverage plan. Given the number of nonqualifying scenarios that Home Depot notes in its terms and conditions, you may still end up paying for these coverages. For many, it's a feasible option to save the money in an emergency fund instead, guaranteeing that you have access to the funds, no matter what type of repairs you need.
It may be somewhat pricey, but the overall coverage that Home Depot warranties outline seem to be worthwhile. The customer experience, on the other hand, seems to say otherwise. Reports of delayed service and unorganized repairman scheduling are common. Even once the technicians arrived and completed repairs, many customers say that the quality of work was low.
Even worse, many customers have had problems receiving coverage for their problems. While they thought the warranty had them covered, with so many excluded conditions, the found that getting help from the policy is a hit or miss scenario.
Since Home Depot provides its warranty services through third-party providers and technicians, it can be easy to see how there could be some disjointed communications. Despite this, though, it doesn't seem fair to make customers take the brunt of this disorganization when they're paying for coverage.
Thankfully, not every Home Depot warranty customer has had these issues. Some report that they had excellent service all the way through, bringing a quick end to their appliance repairs. Others have had positive customer service experience upon complaining about what was wrong. What's unfortunate is that these customers seem to be in the minority.
What We Think
Home Depot seems to be making efforts to improve its customer experience by responding to problems, but that sort of fix is going to take time. Until then, there are numerous problems in the customer experience end of things, no matter how good the policy can seem on paper.
However, even if there weren't as many customer service issues, the cost is still a significant detractor from Home Depot warranties. Comparable plans (and even some with more features) seem to have a better value to them, especially on higher-end products that are worth substantial amounts of cash. With the lackluster service involved, a more expensive but better quality plan may be more worth it.
Since having an extended warranty should help you feel some peace of mind about your appliance, not more stress about what will happen if you need repairs, we can't recommend Home Depot's extended warranties. No matter if you purchase your appliance from Home Depot or another retailer, the final cost isn't worth your money.
Hopefully, Home Depot will learn from its dissatisfied customers and start to change how it handles service and repairs. Until then, it'll be better to take your business for extended household coverage elsewhere.