If you're a homeowner, you may be looking for a home warranty to supplement your home insurance policy. A home warranty can safeguard your home against expensive and unforeseen repairs on appliances and systems in the house in case they break or due to wear and tear. Choosing the right policy with the right company may save you time and money. But how do you find the best home warranty company?
Here are some things to consider when shopping for a home warranty company:
A great first step is to ask a trusted realtor for their opinion. Realtors are often very familiar with home warranties, as it is a common addition that a seller provides a buyer when selling a house. Next, make a list of local home warranty companies that service your area. It is wise to do your homework on what home warranty plan options are out there and to have an idea of what coverage you would like in your head.
Some home warranty companies have exclusions and limitations. While it is important to understand the fine print of what your plan will cover, it is also good to know what your plan will not cover. Make sure you inquire about any overall limits or limits on certain items. You can also consider plans that offer a cash-in-lieu option, where you get the cash value of the repair instead. Various home warranty companies will offer several plans and they may not all be the same. Compare contracts so you can make the best choice for you.
To make certain you make the right choice, take the time to research what other consumers are saying about their home warranty companies. Review the home warranty company's website and search online for any reviews from current or previous customers. Consider their Better Business Bureau (BBB) rating or Consumer Affairs review. Make sure to ask around including your friends and neighbors.
You will discover that you can opt to pay for a home warranty either as a single upfront payment or in installments if the warranty company offers a payment plan. The cost varies depending on your property type—single-family detached, condo, townhouse, or duplex. There are also different plan types with various coverages. Note that in addition to the yearly fee, most plans will also charge you a service charge or deductible each time a repair is made. It is good to be educated a bit on what you’d like covered and how much your budget is as you are shopping around.
Most home warranty companies will offer a maximum amount of money they are willing to pay for any repairs or replacement parts for one year. The warranty will vary depending on the home warranty company and the plan. Consider a “repair or replace” policy which means that if the appliance or system cannot be repaired, it must be replaced under the warranty. Make sure you understand the warranty and get it in writing.
Make sure you get several quotes from various home warranty companies. Because there are so many variables, it is important to closely compare the offerings so that you can get a clear picture of who is offering the value. By comparing multiple quotes, you’ll be able to find one that covers what you need and fits your budget.
Once you have researched each part of our list for the best home warranty company, you’ll be able to easily pick the perfect plan for you and your home. You’ll be enjoying the peace of mind and cost savings that a home warranty plan will offer.
If you're a homeowner, you may be looking for a home warranty to supplement your home insurance policy. A home warranty can safeguard your home against expensive and unforeseen repairs on appliances and more. Choosing the right policy with the right company may save you time and money. But how do you find the best home warranty company?
Here are some things to consider when shopping for a home warranty company:
First, make a list of local and national home warranty companies. It is wise to do your homework on what home warranty plan options are out there and to have an idea of what coverage you would like in your head.
Some home warranty companies have exclusions and limitations. While it is important to understand the fine print of what your plan will cover, it is also good to know what your plan will not cover. Make sure you inquire about any overall limits or limits on certain items. You can also consider plans that offer a cash-in-lieu option, where you get the cash value of the repair instead. Various home warranty companies will offer several plans and they may not all be the same. Compare contracts so you can make the best choice for you.
To make certain you make the right choice, take the time to research what other consumers are saying about their home warranty companies. Review the home warranty company's website and search online for any reviews from current or previous customers. Consider their Better Business Bureau (BBB) rating or Consumer Affairs review. Make sure to ask around including your friends and neighbors.
You will discover that you can opt to pay for a home warranty either as a single upfront payment or in installments if the warranty company offers a payment plan. The cost varies depending on your property type—single-family detached, condo, townhouse, or duplex. There are also different plan types with various coverages. Note that in addition to the yearly fee, most plans will also charge you a service charge or deductible each time a repair is made. It is good to be educated a bit on what you’d like covered and how much your budget is as you are shopping around.
Most home warranty companies will offer a maximum amount of money they are willing to pay for any repairs or replacement parts for one year. The warranty will vary depending on the home warranty company and the plan. Consider a “repair or replace” policy which means that if the appliance or system cannot be repaired, it must be replaced under the warranty. Make sure you understand the warranty and get it in writing.
Make sure you get several quotes from various home warranty companies. Because there are so many variables, it is important to closely compare the offerings so that you can get a clear picture of who is offering the value. By comparing multiple quotes, you’ll be able to find one that covers what you need and fits your budget.
Once you have researched each part of our list for the best home warranty company, you’ll be able to easily pick the perfect plan for you and your home. You’ll be enjoying the peace of mind and cost savings that a home warranty plan will offer.