Benefits of a refrigerator warranty include repair cost savings, reimbursement of costs and replacement of the appliance. The benefits will vary between a standard warranty and an extended warranty and between different brands and models of refrigerators.
Standard warranties cover basic abnormal breakdowns or malfunctions in the appliance. Most warranties will replace a malfunctioning refrigerator as long as it meets the criteria set forward in the details of the agreement. Some agreements even reimburse customers for the cost of replacing ruined food due to a malfunction. If an item is damaged by the owner and it isn't a failure on the appliance's part, then customers would need to fall back on other types of coverage.
Extended warranties and insurance become a great benefit to customers because they fill in the gap on the standard warranty. They can help keep costs of repairs down and even help find reliable repair services. In the case of a flood or fire many warranties will not cover repairs, but extended warranties and insurance can fill that gap.
The cost of buying extended warranties from the manufacturer or buying insurance will vary depending on the company, the length of the warranty and what it covers. Some extensions are based on the original cost of the refrigerator. Replacement policies may be sold separately from an extended warranty.