A home warrantycovers for the things that your insurance doesn’t. These include the mechanical system and appliance breakdowns that could give you a real headache when they happen. They require labor, not to mention cost, to repair. That is why having a home warranty is a must for any homeowner.
However, choosing a warranty plan requires some scrutiny. No, you don’t just accept the first offer that comes to you. There are some important considerations that you need to look into before you sign on the dotted line. Let’s look at these in detail:
Service Contract
Before you sign any contract, read the fine print. Knowing the content of the service contract saves you from surprises that may come with hidden fees and charges. To get to know your service contract, you must learn two important things: a) the contract length; and b) the cancellation policy.
First, you need to know when your contract will expire as there are some companies that do not notify you of your contract’s expiration or renew your contract automatically. You could be in for a surprise when you find out your contact already expired and you need your A/C system immediately repaired.
Second, the cancellation policy. Will there be fees you need to pay should you decide to cancel your plan? Never hesitate to ask the company’s representative about your concerns.
Contractor Network
A vast contractor network indicates a good warranty company. The more partners a company has, the better would be your control as it gives you a wider range of choices by the time you need to use their services. The typical contractor range that a good company holds is 10,000 to 40,000 or more. If this information is not disclosed by the company’s representative first hand, be sure to ask. Aside from the numbers, see to it that these contractors are also a collective of certified professionals.
Coverage
Home warranty coverage varies and the difference may depend on whether your homeis newly constructed or an existing one. If it is newly constructed, your home warranty may be covered by the builder. This coverage will safeguard you from major structural issues that may arise within a decade of use. Minor house elements such as paintings, electrical, or plumbing may be covered up to two years.
On the other hand, if your house is not new, various coverage plans may apply which protects you from failures and issues with appliances and systems. Typically, items covered include washers, ovens, central air conditioning and heating systems, dyers, as well as the electrical and plumbing systems.
Cost
Home warranty plans are usually offered in tiers (e.g. basic, premium, etc.) which differ in coverage according to the cost. The price of your plan will depend on the coverage you need. Plan costs can range from $300 to $800. Ask for the availability of discounts to save on your plan payments.
Customer Service
See to it that you have access to company customer service to make sure your concerns are easily communicated.
Reviews
There are various review sites online that can help you evaluate various home warranty plans from various companies. However, you cannot just accept these reviews downright. Also put into consideration the number of reviews given and the quality of the reviews.
Use this checklist to select the best home warranty for your most important home and living security needs.
