Oven Insurance: Building Or Content?

Whether an oven is considered a building or contents item according to insurance depends on the type of oven and the insurance company. Typically, if an oven is fixed, such as a wall oven, it is covered under a house policy. However, if the oven is removable, it is covered under a contents policy. Some insurance companies consider all items that are fixed as buildings and the rest as contents. It is important to note that standard contents insurance policies usually do not cover appliances that break down due to age, wear and tear, or accidental damage.

Built-in vs. freestanding appliances

Built-in appliances are integrated into the kitchen's walls and cabinets, creating a seamless, modern look. They are usually installed by professionals and are permanently fixed in place. They come in a variety of widths and depths, allowing for customisation to match the rest of the cabinetry. Built-in appliances are often more expensive and have longer lifespans than freestanding units. They cannot be easily relocated and are usually left in the house when the owner moves.

Freestanding appliances, on the other hand, are completely transportable and can be easily positioned in different areas of the kitchen. They are often less expensive and offer more flexibility in terms of placement, as long as there is a power outlet, water outlet, and required ventilation nearby. Freestanding appliances are also easier to install and service, as they do not need to be built into the cabinetry or walls. They can be easily moved for repairs or when the owner relocates to a different home.

When it comes to insurance, the distinction between building and contents insurance can be confusing. Generally, building insurance covers the physical structure of your home, including fixtures like bathroom fittings and kitchen units. Contents insurance, on the other hand, covers movable items that you would take with you when moving. In the context of kitchen appliances, built-in appliances like wall ovens, stovetops, and dishwashers are typically covered under building insurance, while freestanding appliances like washing machines, refrigerators, and televisions fall under contents insurance. However, it is important to note that insurance policies can vary, so it is always best to carefully review your specific policy to understand what is and isn't covered.

Wear and tear

Home appliance insurance, also known as a home warranty or equipment breakdown coverage, can protect appliances from wear and tear, which homeowners insurance typically doesn't cover. This type of insurance covers appliances that are damaged over time due to wear and tear, and can provide repair or replacement if the appliance is beyond repair. Home appliance insurance is often purchased separately from homeowners insurance and can cover multiple appliances under a single plan.

It is important to note that there are some exclusions to home appliance insurance. For example, most policies do not cover appliances over a certain age, typically eight years or more. Additionally, cosmetic damage, pre-existing problems, and improper installation are usually not covered.

To determine if you need home appliance insurance, consider the age and condition of your appliances. If they are approaching the end of their life expectancy or are not covered by a manufacturer's warranty, home appliance insurance may be a good option.

Accidental damage

Ovens are generally considered contents, not buildings, and are covered by contents insurance. Contents insurance covers appliances that are damaged or destroyed by a situation listed in your policy, such as fire, lightning strikes, theft, or water damage. Contents insurance also covers appliances that are damaged or destroyed in a fire, storm, flood, or other natural disaster.

However, contents insurance does not cover appliances that break down due to age, wear and tear, or accidental damage. For this, you would need appliance insurance. Appliance insurance is a specialised type of insurance that covers the cost of repairing or replacing appliances that break down due to age, wear and tear, or accidental damage. Most policies also cover call-out charges for repairers, parts, and labour.

Home insurance policies sometimes include appliance or equipment breakdown coverage, which covers basic repair and replacement beyond the standard perils covered by home insurance. However, this is not always the case, and home insurance policies often do not cover the cost of repairing appliances that break down due to age, lack of maintenance, or general wear and tear.

Appliance age

Determining the age of an appliance is important for several reasons. Knowing how old an appliance is can help a homeowner decide if it is worth repairing or if it should be replaced. The age of an appliance can also help determine if it is still covered under warranty. Additionally, knowing the age of appliances can help a homeowner schedule necessary maintenance and repairs, as regular maintenance can extend the life of an appliance. Finally, the age of an appliance can affect its value if a homeowner is selling their home or insuring it.

There are several ways to find out the age of an appliance. One way is to ask the previous owner or refer to the owner's manual. Another way is to refer to the serial number sticker. It is important to note that the serial number is different from the model number, and the two are often confused. Generally, the serial number will record the manufacture date of the appliance. However, how the serial number indicates the age of the appliance differs depending on the manufacturer.

For GE appliances, the month and year of manufacture are recorded using a letter system in the first two characters of the serial number. The first letter in the sequence represents the month, and the second letter represents the year. The letter representing the year is a bit tricky because one letter can represent multiple years. For example, the letter "A" represents the years 1977, 1989, 2001, and 2013.

For Frigidaire appliances, the date of manufacture is recorded with numbers in the third character of the serial number. This number represents the year of manufacture. The next two characters represent the week of manufacture. For example, if the serial number is NF81064326, the number "8" represents the year, which could be 2018, 2008, 1998, or 1988.

For Maytag appliances, the date code is located at the end of the serial number and uses letters from the alphabet. The first letter in the code represents the year, and the second letter represents the month. For example, if the serial number is 99999978LA, the letter "L" represents the year 2007, and the letter "A" represents the month of March.

For Whirlpool appliances, the serial number records only the year of manufacture without specifying the week or month. The age-finder code for the year is the third character from the end of the sequence and is a letter.

For LG appliances, the first number in the serial number prefix represents the year, and the next two numbers represent the month. For example, if the serial number is 8 10 tagh33333, the number "8" represents the year 2008, and the numbers "10" represent the month of October.

For Kenmore and Sears appliances, it is necessary to first find the model number to determine who manufactured the appliance. These brands sell appliances made by other companies but labeled as their own. Once the model number is found, their system can be used to find the age by the serial number.

In addition to these methods, there are online tools and websites that can help determine the age of an appliance by decoding the serial number and running it through an algorithm. These tools are generally accurate for appliances manufactured from 1990 onwards.

Insurance for landlords vs. renters

Ovens are considered contents, not buildings, according to insurance. This means that they are covered under contents insurance, which covers items that are not a permanent part of the house and can be moved. Contents insurance covers items such as appliances, furniture, and other personal belongings.

Now, let's discuss the differences between insurance for landlords and renters.

Landlord insurance, also known as dwelling fire coverage, is designed to protect landlords or property owners who are renting out their homes, condos, or apartments. It covers financial losses in the event of damage to the rental property. On the other hand, renters insurance is meant for tenants and covers their personal property, liability, and additional living expenses in case of various adverse scenarios, known in insurance as "covered perils" or simply "perils".

What Landlord Insurance Covers

Landlord insurance typically includes the following levels of protection:

• Liability coverage: This covers legal and medical expenses if a tenant or their guest gets injured on the rental property. It can also cover simple things like icy driveways or rotten porch steps.
• Property coverage: This covers any damage to the property owned by the landlord, such as the rental unit, condo, or house, as well as any furniture or appliances they provide.
• Loss of income coverage: If the rental property becomes uninhabitable due to issues like mould, this coverage compensates landlords for the loss of rental income.

It's important to note that landlord insurance usually does not cover broken appliances or tenant personal property.

What Renters Insurance Covers

Renters insurance typically includes these coverages:

• Personal property coverage: This protects the tenant's personal belongings, such as phones, TVs, gaming consoles, furniture, and more, from loss or damage due to covered perils. It's important to note that any property belonging to the landlord is not included in this coverage.
• Temporary living expenses, or loss of use coverage: This helps cover additional living expenses if the tenant needs to evacuate their home temporarily due to covered reasons.
• Personal liability and medical bills coverage: This covers any damages or medical expenses if someone is accidentally injured at the tenant's residence.

Cost Comparison

In general, it is more expensive to insure a property that you own. Therefore, a landlord insurance policy tends to be pricier than renters insurance. In the United States, the average annual cost of landlord insurance is $1,288, while renters insurance costs around $186 per year.

In summary, ovens are considered contents according to insurance and are covered under contents insurance. When it comes to insurance for landlords versus renters, it's important to understand the differences in coverage and tailor your insurance plan accordingly. Landlord insurance protects property owners, while renters insurance safeguards tenants and their personal belongings.

Frequently asked questions