What Is a Home Warranty Plan?
Not all home warranty plans are created equally. Each one comes with a different price, coverage and team of experts. Unlike a home insurance policy, a home protection warranty is a service contract. Home warranties cover what home insurance plans don’t: repairs or replacements for home appliances and home systems.*
As a homeowner, you are responsible for any costs associated with a new hot water heater or broken AC. If you’ve rented for years, you might be shocked by how often you’ll need to call a repair company to fix something. Instead of calling and comparing technicians or bothering your friends for names, you can sign up for a home protection warranty — and you’ll gain an immediate peace of mind.
It’s important for homeowners to know that home warranties do not cover everything. They reserve repairs and replacements for covered items or systems that have stopped working or are broken from everyday wear and tear. If you don’t properly maintain your appliances (or if they were broken before you moved in), however, then a home warranty company will not approve your claim.
What Are the Best Home Warranty Plans?
Finding the best home warranty plan isn’t easy. Just like you do when buying a used car warranty, home security system, or other important purchase, you have to read through reviews, compare services, figure out what each plan covers and decide what you’re willing to pay. Once you choose a plan, though, you’ll be satisfied knowing you’re covered and protected from unexpected expenses. With Choice Home Warranty, you get optional coverage for additional appliances and systems, which we explain below.
What Are the Benefits of Purchasing a Home Protection Warranty?
Maybe you’ve bought a new home and a home warranty plan is included. If not, here are some reasons why you should consider one:
Peace of mind
The biggest reason to buy a home warranty is to get the peace of mind you desire, especially as a new buyer. You’ve already invested in a new home (and have likely taken on a new mortgage), so you don’t want to get stuck paying for a major repair. This is why sellers often purchase home warranties as part of their closing costs: to give buyers that peace of mind.
You never know when something might break and if you move into an old house (with old appliances), you’re risking a lot of money by not signing up for a home warranty plan. If you have a refrigerator and an AC unit break within the same year, you’ll likely pull way more from your savings than you’d like (or you’ll have to go without a fridge and AC until you can afford it). A home warranty plan can protect you from unexpected financial burdens and save you money.
You’ve moved to a new city or you’ve just bought a new home and you don’t know any plumbers, electricians or certified technicians in the area. What do you do? You could ask around or you could pay a one-time home warranty fee and get access to local pre-screened technicians.
With Choice Home Warranty, you can take advantage of all of these benefits. Save money and headaches and get a great value on high-quality service by filling out the form or calling (848) 256-4657 for a free quote today.
What to Look For in Home Warranty Plans
You don’t want to choose the wrong home warranty company, but how do you know which one is best? Here’s what the best home warranty companies should offer:
- Visible terms—You should be able to view the plan online and see what’s fully covered (and what’s not). If you can’t view the terms, you shouldn’t sign up for the coverage. You can view the Choice Home Warranty user agreement here.
- Generous coverage—When reading the plan, see what coverage the home warranty company offers. If you have certain needs, you want to make sure they’re met. If you pick the right home warranty company, you should be able to add on coverage for items not covered by a standard plan.
- Reliability—You can’t control when something breaks, so the provider you choose should offer 24/7 access to a customer service representative so you can submit a claim on your own schedule.
- Reasonable service fee—Home warranty providers charge a service fee every time you make a claim, but the best home warranty companies offer a reasonable fee. For Choice Home Warranty, it’s a set, nominal fee, unlike other companies, which vary the fee depending on the plan.
- Expert Technicians—Going through a home warranty company means you’ll get access to plumbers, technicians and electricians. Make sure you’re working with a company that provides access to pre-screened technicians to ensure high-quality service.
Who Should Buy a Home Protection Warranty?
If you’re selling a house, you can buy a home warranty for potential buyers. The coverage varies, depending on where you live, but there are many perks to buying a basic coverage plan for buyers: you don’t have to worry about them calling you if anything breaks or stops working in the months following the purchase. You also give them incentive to invest in the home.
If you’re a buyer, you can buy a home protection warranty plan any time, even after closing on your new (or old) house. Just know, if there are pre-existing conditions, including in your purchase, those will not be covered under your warranty plan. Once you buy a home warranty, you can continue to renew your plan, year after year, if the company allows it. Choice Home Warranty allows renewal and will notify you of your previous rate and terms.
It’s up to you to decide the best home warranty for you and your home, but if you’re inheriting old appliances, chances are you’ll have to replace them sooner rather than later — and if you’re investing in your home, you should consider investing in this annual fee. Likely, it would save your budget in the long run.