Top 10 Reasons Why Home Warranties Are Essential
Repairing or
replacing your systems and appliances is quite a costly affair nowadays. If you
want to be frugal especially in these times of uncertainty, then buying a home
warranty plan is a good idea. Not only do they help you save money, but they
also guarantee you peace of mind, and if you are looking to sell your property,
home warranties increase its value.
But before listing out why home warranties are
essential, you must understand a little more about them.
Home warranties
cover your systems and appliances for a set period of time, at a nominal price.
There are many home warranty companies in the market offering coverage at very
competitive prices. It is up to to you choose the perfect plan, according to
your needs.
To cut through the
chase, you
should read reviews about other people’s experiences with these
companies. This will help you pinpoint the right company and plan for your
home’s needs.
How Much Does a Home Warranty
Cost?
Annually, home
warranties cost you anywhere between $300-$600, depending on the company and
plan you choose. Customers are also required to pay a service call fee when a
technician comes to inspect a system or appliance in your home. This fee is
between $50 - $100 depending on the company.
What Does a One Year Home
Warranty Cover?
Annual home
warranties cover systems and appliances such as your refrigerator, dishwasher, garbage disposals, water heaters, central vacuums,
clothes dryers, built-in microwave ovens, trash compactors, garage door
openers, etc.
Now
Let’s Take a Closer Look at Why Home Warranties are Essential
No
Need to Chase Technicians
Home warranty
companies have huge contractor networks, so customers just need to call up the
company which sends out a technician. Customers only need to pay a service call
fee to the technician and the job is done.
But without a home
warranty plan, you will need to find a technician yourself to take a look at
your faulty devices. These technicians often charge huge amounts of money just
to diagnose your systems and appliances, let alone the costs of repairing them.
Save
on Hidden Expenses
Once customers sign
up for a home warranty plan, they need not pay any extra amount during the
course of their contract. Buyers are
only required to pay what is mentioned in a contract.
Added
Coverage
A lot of home
warranty companies, offer additional coverage options at a very nominal fee.
Swimming pools and spas are usually included in the company’s additional
coverage plans.
A lot
Of Options
Many home warranty
companies offer different plans to cater to varying customer needs. Some plans
offer basic coverage for household items and others offer comprehensive plans
for enhanced coverage. Choose a plan wisely according to your needs.
Varied
Types of Home Warranties
There are three
different types of home warranties: Homeowners' home warranty, Homebuyers’ home warranty, and Sellers’ home
warranty. As the name suggests each of these warranties serves a different
purpose.
24/7
Flexibility
Customers need not
worry about anything if they are protected by a home warranty plan. If an
appliance or system breaks down, you can simply call up customer care and a
technician will come over to resolve the issue.
Property
Value Increases
If you have a home
warranty, the value of your property increases automatically. You can negotiate
with your potential customers for a higher value if you are renting out or
selling your property.
Avoid
Going into Debt
Issues like
plumbing repairs or air conditioner breakdowns can be expensive. But if you buy
a warranty plan that covers these items, you save thousands of dollars and
avoid going into debt.
A
Warranty May Be Free
Several sellers run
offers gifting free warranty packages for a one-year duration. If you research
thoroughly you may be lucky enough to stumble upon one of these killer deals.
You are
Spoilt For Choice
There are several
warranty companies in the market today, that offer different plans to suit your
needs. Some of the top companies are American Home Shield, Choice Home Warranty, The Home Service Club, Select Home Warranty, etc.
Conclusion
Owning a home
warranty has several advantages. Especially in these times of chaos and
unpredictability, it is better to protect your home with a warranty just in
case something breaks down all of a sudden and you have nowhere to go for help.
But you should always read the fine print of your contract before signing
up.
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