What is a Home Warranty?
A home warranty is a protection plan that offers coverage for common home repairs. For a simple annual fee, this type of plan offers financial security from unexpected problems with your home appliances and systems. A home warranty is smart if:
- You’re purchasing a home
- You have older appliances
- You don't have access to an emergency fund for repairs
- You want to simplify home repairs and replacements
What Does a Home Warranty Company Cover?
A home warranty covers systems and appliances within the home, that suffer from degradation over time and prolonged use. The extent of coverage is determined by the policyholder. Customization is possible, for the plan best suited for your home. A typical plan covers:
- Heating systems and ductwork
- Plumbing systems
- Electrical systems
- Water heater
- Kitchen appliances, including your oven, range, stove, cooktop, dishwasher, and built-in microwave
- Garbage disposal
- Whirlpool bathtub
- Plumbing stoppage
- Garage door opener
- Exhaust fans
- Ceiling fans
If you’d like more extensive coverage, you can opt for a more comprehensive plan. A Total Plan from Choice Home Warranty includes all of the above as well as your:
- Air conditioning system
- Clothes washer
- Clothes dryer
You can even customize your plan to include additional coverage for other systems in your home. This personalization lets you to build a plan that’s exactly what you need for your home. Some of the optional add-ons you can select include coverage for:
- Pool and spa
- Central vacuum system
- Well pump
- Roof leaks
- Sump pump
- Septic system and septic tank pumping
- Second refrigerator or a stand-alone freezer
Tailor your warranty to include coverage for the systems that matter most. If you’re concerned about the age or reliability of particular parts of your home, you can build a plan that protects those elements. If your system needs extensive repairs or a full replacement, your warranty can then offer all the coverage you need for the incident, so a potential disaster becomes a minor addition to your to-do list thanks to the convenience of your home warranty.
How Much Does a Home Warranty Plan Cost?
Home warranty plan costs vary based on the homeowner’s:
- Place of residence
- Desired level of protection
- Dwelling size
- Type of home
Families have the flexibility to choose between total and basic plans depending on the type and number of appliances they would like included in their plan. There are also optional coverages that will add features like a pool or septic system. You can get a quick quote online that will give you a better idea of how much your home warranty plan will cost. Make a wish list of what systems you want covered before you sign up. Working with a customer service representative, you can go through your wants and needs to find the plan that’s best for your family.
What is a Home Protection Plan?
Your home protection plan is essentially the same as your home warranty. This plan specifies the coverage and protection that you’re awarded in the case of a necessary home repair or replacement. When you’re ready to use your home protection plan, you simply contact our Claims Department at 1-888-531-5403 and explain your needs to a customer service representative or submit a claim online. Our customer service center is available 24 hours a day, 7 days a week, 365 days a year. We will connect you with qualified repair professionals in your area. You don’t need to research local contractors or call around for the best pricing when you’re covered by a home protection plan. The repair process is simplified for your convenience. Other than a trade call fee and any applicable deductibles, the cost of repairs are covered. When your service provider arrives to handle the repair, there is nothing more you need to do. If your equipment cannot be repaired, your home protection plan may even cover a full replacement. A home protection plan offers peace of mind throughout the year. You won’t have to worry about steep expenses associated with major repairs or replacements. Explore your options carefully to find the best fit for your home and lifestyle, so you’re enjoying affordable coverage that meets all your needs.
What is the Difference Between Home Warranty and Home Insurance?
The primary difference between a home warranty and home insurance is that your home warranty covers appliance and systems in your home that, at some point will require servicing, maintenance and/or replacement. It acts as a service contract, to lessen the financial burden of owning household items that have an estimated life expectancy. The warranty may be utilized in the absence of sudden or accidental damage to the home. The following items would fall within this category, depending on the extent of your coverage:
- HVAC (air conditioning system)
- Water heater
- Pool pump
A homeowners insurance policy only covers elements of the home that might need to be serviced or replaced due to unexpected damage, such as hurricanes, lightning strikes or fire. The incidents where a homeowner attempts to use a household appliance, only to find out that it is not functioning properly, would not be covered under a home insurance policy. In short, a home warranty will cover home systems and appliances that fail due to normal wear and tear (coverage extent based on contract) whereas homeowners insurance will not. For this reason, a home warranty is a good investment considering it will be used at some point as all home systems and appliances will eventually fail. Having both policies, secures your investment and relieves the homeowner’s anxiety of pending costs.