New Research Shows Just How Much American Homeowners Spend on Appliance Repair
Using and maintaining appliances isn’t cheap. New research from Allstate Protection Plans conducted in November and December 2021 shows how many American homeowners have had to repair or replace their appliances in the last year. The costs associated with all these repairs reached $68.1 billion in the last year alone. Many homeowners spent more time at home during the COVID-19 pandemic with many people using their appliances more than they normally would. So, what can we learn from all this new information?
The Cost of Repairing and Replacing Appliances
The Major Appliance Blues Survey from Allstate Protection Plans demonstrates just how much money Americans invest in appliances.
According to the results, 95% of homeowners report having a major appliance stop working at some point—and over 40% of those say they have had a problem in the past year.
Nearly half of all homeowners in the survey (43%) bought an appliance in the past year. Despite the recent rise in online shopping, 46% of participantssaid they still prefer to research and purchase home appliances in store—with 20% choosing to shop and purchase online only.
The study also shows which appliances were most likely to be repaired or replaced:
- 29% washing machines
- 27% refrigerators, freezers, and ice makers
- 16% drying machines
- 14% automated dishwashers
The survey gives us insight into how the pandemic affected appliance sales. According to the results, of the 42% of homeowners who had an appliance break down during COVID-19, 74% said they were comfortable having a technician repair their appliance in their home. As for the homeowners who weren’t comfortable scheduling in-home repairs during the pandemic, 62% said they chose to replace their appliance instead of waiting to have it repaired post-COVID-19.
Allstate’s findings show how often certain types of appliances are likely to break down.
Over half (52%) of all reported appliance malfunctions occurred within five years of purchase, with 18% happening in the first year and 33% within two years of purchase. Meanwhile, 76% of those with an appliance malfunction saidthatthe repairsweren’t covered by a warranty or protection plan despite 90% of people being offered protection plans at purchase.
This shows us how important it is to sign up for warranties and protection plans at the time of purchase.
The research also highlights the benefits of having your appliances repaired. When looking at the people that experienced an appliance malfunction, 56% of homeowners said they preferred to have their appliance repaired, up from 46% before the pandemic.
Another 24% said they tried to fix the problem themselves, with 23% opting to schedule an in-home repair. Sixteen percent said they just got rid of the broken appliance, and 4% said they filed a warranty or protection plan claim. Less than half (48%) of those who tried to fix a broken appliance themselves were successful with the repair.
Clearly, trying to fix your broken appliance yourself won’t do you much good. It’s usually better to call a professional when your appliance breaks down. Repairing your appliances will help you save money, so you don’t have to spend thousands of dollars on a new piece of machinery.
Contact the professionals at Absolute Appliance Repair in Marin County to schedule an appointment today!