Why should you get a home warranty plan? What are the various home appliances and systems covered by this warranty plan? Which process should you follow to file for a home warranty claim? Before you choose a home warranty plan, what factors should you consider? What are some of the things that may render your warranty plan void?
Breakdowns are inevitable due to constant wear and tear. A blown-up kitchen appliance or home system is an unexpected expense. You will need to repair or replace the damaged parts and you might have exhausted your savings. Purchasing a home warranty plan upfront gives you the advantage of covering the repair or replacement expenses of your major appliances and systems. Get home warranty plans to save time and money, protect your home and get a trusted network of technicians to repair your major appliances and systems.
Major appliances and systems covered.
- Cooktops and ovens.
- Water heaters.
- Plumbing systems.
- Central heating systems.
- Garage door openers.
- Garbage disposals.
- Central air conditioning systems.
- Electrical systems.
- Built-in microwaves.
This warranty plan is available to both new and existing homeowners. When a new buyer purchases a home, a warranty plan is offered to them.
Home warranty process.
Before you file for a claim, review the insurance contract to verify the items that are covered in the plan. To file a claim, follow the following steps:
- To file a claim, you should contact your home warranty insurance company.
- The warranty company will review their home warranty plans to verify if they cover the specific item you asked for.
- An appointment is scheduled for you with a local contractor by the warranty company.
- The contractor will diagnose the problem and recommend whether it needs repair or replacement.
- Replacement or repair is made depending on the situation.
- You pay the warranty company a service fee.
- Your device gets delivered.
Factors to consider before choosing a home warranty plan.
- Deductibles and fees.
Consider the amount of money you are willing to pay annually.
- Customer service.
How fast can the warranty company deliver and are they reliable? Ensure the company you select offers a 24/7 hotline for making claims.
Ensure the company you choose has been in business for a long time and has specialized technicians to deal with any problem.
- Coverage options.
There are certain major appliances or systems excluded from the coverage. You will be forced to pay extra if you want to cover one of the excluded appliances.
Some companies may offer incentives or discounts when you sign up with their warranty plans.
- Service fees.
It is important to know how much it will cost you to request a service.
Things that could void your coverage.
- If the failure wasn’t due to normal wear and tear.
If a pest attacks any of the home systems or appliances, this kind of repair is not covered.
- If the damage occurred before the agreement was effective.
- When asbestos, molds, hazardous and toxic materials are found in the premises during the inspection.
- When the appliance was not well maintained.
- Looking for your repairman who isn’t approved by the home warranty company.
- If the property’s purpose was converted. For instance, changing the property from residential to commercial.
The cost of a home warranty.
Its price ranges between $350 to $1200 annually. The price quotation varies depending on various factors like the geographic location, the warranty company, and the contract you choose. Every time you contact the warranty company for a repair, be ready to pay for a service fee. This fee ranges between $50 to $125. If the replacement or repair costs more than the contract limit, you will be forced to cover the remaining costs.
Choosing the best home warranty plan.
Finding the best warranty plan that suits your needs can be difficult. This plan comes in handy when a major home system or appliance fails due to normal wear and tear and the mechanical parts require to be replaced or repaired. There are many different plans offered by different companies with each company offering a different level of coverage.
- Determine the appliances and systems to be covered.
Create an inventory of what you want to be protected in the plan. Consider the age of the appliance or system and compare their current age with their average life span. If the appliance is almost at the end of its lifespan, ensure you consider it for coverage. Ensure your appliances and systems are properly maintained to avoid rendering your coverage void. The list should contain well-maintained appliances that are nearing the end of their average lifespan.
- Get a warranty quote.
Ask different home warranty companies for their coverage quotes. Before making a purchase, you should have a rough idea of what the warranty plan covers, excludes, and its monetary limits. The warranty company may not be able to cover more than a certain amount for repair and replacement within a year. You should read the contract to determine which warranty plan provides the most coverage for your home appliances and systems. Some warranty companies will provide a network of contractors to choose from while others allow you to find your contractor.
- Compare plans and choose accordingly.
Select a home warranty plan that offers wide coverage with the least number of systems and appliances within your list excluded. Some warranty plans cover the repair or replacement of:
- Only appliances.
- Only systems.
- Both home appliances and systems.
A home warranty plan covers your major home appliances and systems in case they get damaged. To get the best home protection plan, do your research and identify which each company has to offer. To file for a home warranty claim, there is a certain process that should be followed carefully. Some factors should help you choose the best home warranty plan and they include deductibles, experience, and coverage options. If you are not careful, you might end up rendering your warranty void. It is essential to choose the best warranty plan to protect the major appliance and systems of your home.