What is a Home Warranty?
A home warranty protects the inside of your house, predominately it covers appliances, A.C units, plumbing and other household concerns. Home warranties are a sensible and reputable insurance that every homeowner should have.Why Do I Need a Home Warranty?
To ask yourself that question, look in your wallet, or check your bank account. Do you have $5,000.00 at your disposal to buy a new A.C? Could you afford a $600 plumbers bill? If the answer is no, then you need a home warranty.How Does a Home Warranty Cost?
Home warranties cost $45 to $100 per month based on coverage and location. That is a lot of money but when you think about the coverage, it doesn't bare considering not having a home warranty. Be prepared to pay a deductible on each service. The standard deductible is around $100 and for that $100 you can potentially have a $5,000 A.C unit replaced. Think about the savings right there. Home warranties are a dream come true in tough economic times.What Kind of Coverage can I expect?
In terms of coverage you can expect the following out of most companies as a general rule.- AC units
- Plumbing
- Electrical
- Boiler coverage
- Swimming pools
- Hot tubs
- Major appliance repair or replacement
This list is not extensive, so be sure to read all policy documents before signing on the dotted line. Make sure the coverage is right for you and your home before handing over the cash
What are the Best Home Warranty Companies?
Home Warranty of America and Choice Home Warranty are among the big players and have high ratings in the industry. There are so many companies out there so in terms of finding the best one, it is important to read reviews and also check them out on the BBB (better business bureau). If they are not an accredited company, then don't use them. It is as simple as that and your money will be better spent on a company that has a solid reputation.How Do I Purchase a Home Warranty?
Do you research, go online, read the home warranty reviews and pick what is affordable to you. Once you are ready to purchase a policy make contact with a company you feel comfortable with and don't forget to ask about a new customer discount. Play the companies against each other. Don't be afraid to bargain, it is your hard-earned money, not theirs.Is There a Waiting Period to Use the Warranty?
Most policies make you wait 30-60 days before you can make any claims on the insurance. Whilst that can be a frustrating thought, just think of all the positives you are going to get in return for waiting that small amount of time for the coverage to be activated.Please consider buying a warranty, it makes financial sense, and it is a positive move for you, your family, your bank account and finally, your home.
