Suppose you are a homeowner or planning to buy a home. In that case, there is a probability that your heating and cooling system, electrical or plumbing system might fail and need repairing or replacement. A residential home warranty can help you cover repair costs when any of your home appliances needs fixing. Home warranty saves you costs you could have incurred replacing or repairing your damaged home system. It also gives you peace of mind knowing you have professionals to fix your home appliances if any emergencies happen, like your air conditioner stops working.
Different home warranty companies provide various plans and levers of coverage. Here are tips to help you find the right plan for your home:
1.Determine your coverage needs.
Some home warranty plans cover all major appliances, while others are limited to covering specific home appliances. When choosing a home warranty plan, you have to know which machines you want to cover. Deciding which appliances to cover can be challenging as you cannot predict which devices are likely to fail in the future and need repairing.
An excellent way to determine which appliance to cover is by listing the old systems that have been in use for more than 80 percent of their average lifespan. If you are purchasing a new home, ask your realtor to get the home systems ages from the agent or the seller. The older system or appliance has more risk of failing; hence should be the one to consider for home warranty coverage. If you have lived in the home for a short period, look for your systems’ owner manual book to know their age and compare to cover for the oldest appliances and systems.
Another thing to consider is if your appliances and systems are well maintained. Most home warranty companies do not cover repairing or replacing appliances due to poor maintenance. However, some home warranty companies offer improper maintenance coverage if a home inspection did not detect the problem before buying your home. If you have not taken care of your appliances properly, a home warranty will not be ideal for you. Home warranties cover for appliance failure caused by wear or tear and not improper maintenance.
After you have made a list of your home systems and appliances that are well maintained but close to their average lifespan, you can now contact the home warranty company on your list.
2. Get home warranty quotes.
Before purchasing a home warranty, request quotes from different home warranty companies around your home area to help you determine the best plan to choose. Try to get a sample of the companies’ contact to help you know the exact appliances that the company covers and which ones are not covered. The sample contact will also give you monetary limit details the home warranty company has.
Take note of the home warranty company’s limits and exclusions.
Some companies offer contract-level monetary limits, meaning the company has no monetary limit for covering specific home appliances and systems. However, the home warranty company will cover up to a certain amount of money if the machines need repair or replacement when the contract is active. Other companies have monetary limits on specific devices and systems.
Reading the contract will enable you to know which home warranty plan offers the best coverage on the appliance you want to cover. Ensure you look for a coverage plan that does not have too many limits on the contract.
Some home warranty companies have established a network of service providers to help homeowners repair their home appliances. In contrast, other home warranty companies do not link up service providers to the homeowners. They have to look for their own service providers for appliance repairs. There could be a possibility that homeowners pay more repairing costs that the warranty companies that have set negotiated prices with their network of service providers.
3. Compare plans and choose.
e After you have made the list of your appliances you want to cover and have a good understanding of different warrant plans, you can choose the right home warranty company for your home appliances. Read the sample contracts from various home warranty companies that provide coverage for home appliances and systems around your area. It would be good to note the limits and coverages offered in the various contracts and compare them. It would be good to choose a home warranty company that provides the most coverage with the least amount of limits for the home appliances and systems you want to cover.
Ensure you read the contracts’ terms and conditions because they might be some parts of your home appliances and systems that are not covered in some specific home warranty plans or by some home warranty companies.
4. Read home warranty company’s reviews.
Before making your final decision on which home warranty company plans to buy, ensure you read online customers’ reviews. These reviews will help you determine if the home warranty company you have chosen will offer you good services. If they have more positive reviews, it is a good sign that the customers’ are satisfied with the home warranty plan and benefits. You can go ahead and sign up for membership.
It is also important you look at how the company responds to customers’ negative reviews. A good company should try to solve its customers’ complaints. If they fail to respond to negative reviews, consider looking for another home warranty company with good customer service.
Bottom line.
A home warranty cover is a good investment for you as a homeowner. It helps you replace and repair your home appliances and systems such as your heating and cooling system, plumbing, refrigerators, and cookers. It gives you peace of mind knowing you have someone to you in case of any emergencies in your home appliances and systems. However, it would help if you make a good decision when choosing the best home warranty plan for your home appliances and systems.
