Welcome!

News Feed Item

The Cost of Maintaining and Repairing Today's Appliances Is Going Up, According to Safeware

Customers are increasingly turning to extended warranties to insulate themselves from financial risk of owning complex appliances

DUBLIN, OH--(Marketwired - March 20, 2017) - Safeware, a leading provider of product protection and extended warranty solutions, helps customers to reduce the risk of owning high-value appliances, such as dryers, refrigerators or dishwashers. This peace of mind, delivered in the form of a protection plan, eliminates unexpected repair costs for customers.

When purchased new, most appliances come with a limited manufacturer warranty that protects the unit from mechanical failure within the first year of ownership. Many customers rely on this short-term protection, believing they are unlikely to experience unit failure after that initial period. However, Safeware data indicates that many modern appliances fail when the unit is between one and three years old.

When those appliances fail, the out-of-pocket costs can be higher than many consumers anticipate. On average, dishwashers cost $199 per repair, and washing machines cost $221. Similarly, refrigerators can cost up to $267 each time service is required, in addition to the cost of any potential food loss during the downtime.

"By investing in a protection plan when a new appliance is purchased, customers are able to prevent the out of pocket expenses that will result if their unit fails," says Safeware's Chief Executive Officer, Bryan Schutjer. "Safeware partners with the country's best service centers, so consumers can rest assured that they are receiving the highest quality, most convenient service."

As more consumers request service from repair technicians who are certified by a specific manufacturer, the cost of labor for repairs on appliances is increasing. When a technician is supported by the manufacturer with a certification, consumers understandably feel more comfortable with the work being performed on their product. The downside of this trend, though, is that repair centers must increase their overall rates to afford these certifications.

The total repair cost, made up of labor and drive time for the technician, service center mark-ups, and any taxes or shipping charges, can quickly become expensive. Since 2014, the average cost of labor has increased nationwide by 7.3%. Ultimately, if the customer is not protected by an extended warranty, the price for service increases and up-charges are passed along and reflected in the total repair cost.

Despite these upward trends for out-of-pocket appliance repairs, the cost of extended warranties has remained steady. Statistics show that consumers who invested in extended warranties for their appliance are not being impacted by these trends as much as those who did not. When purchasing a new appliance, customers should consider the potential cost of failure and weigh that against the upfront investment in protection for their unit.

About Safeware

Having pioneered the technology insurance industry in 1982, Safeware is now one of the most recognized names in product protection. Safeware's innovative approach to insurance and extended warranty solutions has propelled the company into multiple industries including education, corporate technology, fitness, furniture and appliances. By helping partners to customize coverage based on their unique needs, Safeware provides best-in-class programs allowing customers to own their products with confidence.

Learn more about Safeware online at www.safeware.com or by calling 1.800.800.1492.

Image Available: http://www.marketwire.com/library/MwGo/2017/3/16/11G133356/Images/Image_-_Cost_of_Owning_Appliances_is_Going_Up-ea2c651b3353afa6bb0fa2b5422246cf.jpg

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
SYS-CON Events announced today that SD Times | BZ Media has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. BZ Media LLC is a high-tech media company that produces technical conferences and expositions, and publishes a magazine, newsletters and websites in the software development, SharePoint, mobile development and commercial UAV markets.
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
Now that the world has connected “things,” we need to build these devices as truly intelligent in order to create instantaneous and precise results. This means you have to do as much of the processing at the point of entry as you can: at the edge. The killer use cases for IoT are becoming manifest through AI engines on edge devices. An autonomous car has this dual edge/cloud analytics model, producing precise, real-time results. In his session at @ThingsExpo, John Crupi, Vice President and Eng...
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...
There are 66 million network cameras capturing terabytes of data. How did factories in Japan improve physical security at the facilities and improve employee productivity? Edge Computing reduces possible kilobytes of data collected per second to only a few kilobytes of data transmitted to the public cloud every day. Data is aggregated and analyzed close to sensors so only intelligent results need to be transmitted to the cloud. Non-essential data is recycled to optimize storage.
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., will discuss how these tools can be leveraged to develop a lasting competitive advanta...
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, provided the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” used open source attack tools that are free and available for download by anybody. Attendees learned where to find and how to operate these tools for the purpose of testing their own IT infrastructure. The...
SYS-CON Events announced today that IoT Now has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.