If you have purchased a home, you may wonder whether you should buy a home warranty plan to protect your budget against costly home appliances and system repairs or replacements. A home warranty plan can help you save a significant amount of money when major home appliances and systems wear down due to regular wear and tear.
The fact is that a home warranty plan can be a comforting factor for homeowners who are worried about paying for costly repair bills. Often, a transferrable home warranty comes as a part of the sales agreement. If you received a home warranty plan as a part of the sales agreement and are satisfied with the service, you can renew the contract once the time is over.
1. Read the home warranty company reviews:
The current housing market has already been swamped with many home warranty companies and only some companies are a good fit for you. You should strictly avoid low-reputed companies that circulate misleading advertisements with high hopes and often deny their customers’ claims. Now, you might be wondering how to spot those companies, right? There are many well-known companies that allow home warranty customers to provide unbiased reviews about their companies. Go through those reviews and try to know their customer experience with the companies. Always select a home warranty company that has a strongly positive market reputation with satisfying reviews and ratings from its customers. Home warranty companies that give prompt replies to their customers on review sites have good customer service departments, which means they are serious about catering to their customers’ problems.
2. Consider a coverage type that you need:
There are multiple types of coverage plans that home warranty companies offer. Usually, most home warranty companies offer three types of plans-one covering all the major home appliances, another one covering all the critical home systems, and a comprehensive but a little expensive plan that covers both home appliances and systems.
Major home appliances include:
Major home systems include:
By paying some extra amount of money, you can also have additional coverage for-
3. Read your home warranty contract carefully:
Before purchasing any home warranty plan, please read the contract thoroughly as it includes all the inclusions and exclusions of your plan. Your home warranty plan may not cover specific components. One thing that you should know is that most home warranty companies cover damages due to normal aging. Usually, home warranty companies deny claims for damages caused by improper installation, mishandling, or items that have been maintained poorly.
Now, that you know what you should consider before purchasing a home warranty plan, it’s time to buy a perfect home warranty plan that fits most of your requirements.