Coverage Throughout the Appliance Lifespan
The cheapest home warranty can save you money on the repair or replacement of dozens of covered items, including heating systems, garage doors and more. Consider the life expectancy for common household appliances, as estimated by the International Association of Certified Home Inspectors and Sears Home Services.
||Life Expectancy (years)
|Air Conditioning Unit
|Water Heater (Conventional)
If your major appliances and systems are aging, repair costs alone can set you back several hundred dollars. When the time comes to replace your appliances, you could be looking at a bill for several thousands of dollars.
The cheapest home warranty will protect against these expenses, substituting a low annual fee for a steep repair or replacement bill on covered repairs.*
More Money for Your Home
A home warranty can increase your home’s marketability by adding extra protections and incentives for those buying a home. According to Cres Insurance, homes that were protected by a warranty plan typically sold faster and reduced their number of days on the market by 16 percent. These homes were also sold at a higher average price than homes without a protection plan, with the sales price increasing by almost one percent. Additionally, transferring your home warranty to new owners can add even more incentive for potential buyers.
What Else Does a Home Warranty Cover?
When looking for the cheapest home warranty, you also want to understand the level of service and terms of conditions. Consider these common questions when researching the best home warranty:
Do Home Warranties Cover Pre-Existing Conditions?
Most home warranties do not cover pre-existing damages. Consumer Reports explains that broken appliances will likely not qualify for coverage if you failed to maintain it correctly or if the damage preceded the home warranty coverage.
Who Should Pay for a Home Warranty?
The National Association of Insurance Commissioners recommends that you consider purchasing a home warranty if you are buying an existing home or moving into a new home. Additionally, if your appliances are aging or you want to simplify home maintenance, a home warranty could be a smart investment.
Can You Buy a Home Warranty After Closing?
Most home warranty companies will let you buy a home warranty plan at any point during homeownership.
How Do I Choose the Best and Cheapest Home Warranty Plan?
Whether you are looking for the cheapest home warranty to cover your basic home needs or you are opting for a premium combo plan for more complex home systems, there are several steps you can take to ensure you find a reputable company that meets your coverage and price point needs.
Step One: Do your research.
Looking into a company’s history and consumer ratings can be an excellent way to review home warranty options. Consider the following factors when making your decision:
- Accreditation: Although home warranties are not insurance policies, many states require companies to register with the National Association of Insurance Commissioners.
- Ratings: Read the customer service reviews on an independent ratings site and look for service providers with the highest consumer ratings. Many review sites will let you sort by your preferred criteria, including lowest price, highest review or most recent.
- Years in business: Consider how long the company has been around, as this can shed light on a company’s reputation and level of expertise.
- Values: Research the home warranty company’s values, such as a transparent service fee schedule, accessible annual rates, clear service terms and quick processing times. You should be able to find this information without submitting personal data.
Step Two: Determine your service needs and price point.
When you’ve narrowed the list of reputable companies, identify your coverage needs and determine what you want to pay in annual service fees, site visits and any additional add-on services.
Home warranty plans will vary in their level of coverage, but they generally offer tiers of service, such as:
- Tier 1: These plans generally cover the main mechanical systems, including electrical, heating, plumbing and water heaters, as well as appliances such as stoves, dishwashers, water heaters and garbage disposals.
- Tier 2: A step up in coverage typically includes every appliance and system in Tier 1, plus larger systems such as air conditioning, refrigerators, washing machines and dryers.
- Add-ons: Most plans will let you add specialty covered items such as septic systems and pool or spa systems for an additional $100 or $200.
At Choice Home Warranty, we offer two protection plan options — the Basic Plan and the Total Plan. Our Basic Plan includes Tier 1 appliances and systems, and our Total Plan extends to include Tier 2 services. If you need more protection for other features in your home, we also offer optional coverage that can be added on to either plan, so you can have all of your important systems backed by our warranty.*
Step 3: Do your research (again)
The Service Contract Industry Council recommends buying a home warranty that is clear and upfront about homeowner responsibilities. As a homeowner, you should:
- Request a copy of the contract before buying. The best and cheapest home warranty will make their service terms clear and accessible.
- Fulfill all contract responsibilities, such as filter changes. Home appliances and systems that are not properly maintained may be ineligible for a claim payout.
- Keep the service contract paperwork, original receipts and all maintenance records. This will help provide documentation of proper care in any claim dispute.
- Research the service contract company. Verify that the home warranty company contracts with a reputable and licensed vendor.
What Can I Expect From Choice Home Warranty?
As one of the top-rated home warranty companies with over 10 years experience in the industry, Choice Home Warranty offers the most comprehensive, flexible and value-priced plans on the market, bringing you affordable options and quality service. Every service contract — from the cheapest home warranty plan to the premium combo plan — offers:
- First month free when you sign up for a single payment plan
- Local, pre-screened technicians
- Replacement options if the technician cannot repair the covered item*
- 24/7 home warranty service
- Automated home maintenance reminders
- Complete transferability to new homeowners anytime during the warranty period
- Add-on coverage, as desired, on items like pool and spa or septic tank
When you do a home warranty price comparison, you’ll find the generous coverage and competitive pricing at Choice Home Warranty makes it one of the most affordable home warranty options, and one of the most comprehensive service providers.
When you’re looking to protect your home, price is a huge consideration, but not at the expense of quality service. Some home warranty plans may offer bottom-line prices, but the limited service levels might leave homeowners footing the bill in the end.
Choice Home Warranty offers competitive pricing and comprehensive coverage, bringing you peace of mind that your home and wallet are protected. Plus, the generous transferability options makes Choice Home Warranty a great fit for homeowners and buyers alike.