For many of the middle class, the home is one of the biggest investments.
I’m guessing that you’re likely quite attached to yours. The last thing you want is to see something go wrong with your home and be unable to handle it, because trust us: system failures and appliance breakdowns can strike when you are least prepared.
Furthermore, it’s not a matter of if it happens, it’s when it happens.
The fact of the matter is: houses get old. Things break down. Your once elegant hardwood floors will begin to creak beneath your feet. Old kitchen appliances will rust and need coaxing to help with dinner prep.
A home warranty is a service contract that takes the burden of safeguarding critical aspects of your home off your back. With one less thing to worry about, you can afford some peace of mind knowing that your family is covered against some of the most inconveniencing overheads.
Home warranty plans however do not cover everything. There are different plans available that may fit different people or situations. When choosing a warranty for your home therefore, you’ll want to know what options are best for you. Here’s what to look for.
Reputation of the company
When it comes to covering home systems and appliances, there’s no fixed standard for deciding what should qualify as proper maintenance. Because this remains a fairly gray area, it tends to cause disagreements between warranty holders and their home warranty companies. The only way to ensure your warrantor is not going to take advantage of this kind of loophole is to work with a reputable company.
Online reviews are a good place to start. Check what other customers are saying about the various companies you consider buying your home warranty from. These should give you a good picture of the quality of service to expect. Identifying a reputable warrantor should help solve a big part of the puzzle.
What is covered
Once your homework has led you to a select few companies that you are willing to sign a contract with, your next big task is to match the coverage offered with your own needs. Does the company cover what you want covered in your home? If yes, it’s a go, otherwise; you’d have to skip to the next company in line.
You can expect to find appliance warranties in various categories, such as basic coverage, HVAC plans, kitchen appliance plans, outdoor appliances plan and more. You’ll have to pay attention to these basic categories to see if they correspond to what you have at home.
The level of coverage for major home systems may also vary hugely with different companies and in different states. Ensure you review multiple home warranties to find the best fit.
Pricing of the warranty
You have found out the level of coverage for home systems and appliances. You have also narrowed down to the companies with basic plans that include major systems and appliances you have in your household.
The final criteria for elimination should touch on pricing. Ideally you should end up with the company that offers the most comprehensive coverage with very little exclusions at the lowest charges.
There are a ton of appliance warranty plans that are affordably priced, so it shouldn’t be hard to find one that is within your budget.
If you follow this guide and work out your options properly, you should end up with a reputable warrantor offering you maximum coverage for your home’s systems and appliances on a reasonably priced plan.