You bought that new refrigerator with the smart controls. Your new washing machine has green technology that will help save water.

These appliances likely cost you a pretty penny. You want them to last and to continue to work. But, you never know when you might face a loss in your home. The loss could damage your property or cause your appliances to stop working.

Losing an appliance is a loss of money. You will likely wonder if your homeowners insurance will help you cover some of those losses. Keep these insurance tips in mind when dealing with a damaged appliance.

• Normal wear and tear usually is not covered by homeowners insurance. Homeowners insurance generally only covers losses associated with perils or unforeseen damages. If your refrigerator dies because it is old, you will likely have to replace it out-of-pocket.
• Most homeowners insurance policies will cover perils that affect your homes. If a severe storm damages an appliance, you can likely get coverage. If lightning strikes your home, it could cause a surge that shorts your appliances. You could probably get some compensation from your homeowners insurance.
• Remember, some policies may only cover certain perils that damage your home. Storm damage might have coverage. However, damages from floods may not. You may have to have a special flood insurance rider or policy to cover these damages.
• Also, homeowners insurance often reimburses clients based on an appliance’s actual cash value. A thousand-dollar washing machine will depreciate in value over time. You will likely only get compensation for the approximate value of that item at the time of the damage. You should check with your insurance company to see how they determine value.
• Certain appliance insurance policies do exist. These can offer more coverage to afford replacements on lost appliances. They may also replace items when they break down due to normal wear and tear.

Replacing appliances following a loss can be expensive. You should always know how your homeowners insurance policy covers appliances.