Home Warranty Plans: How to Decide Which One Is Right for You
Home warranty plans are all a little different. Some cover only kitchen appliances while others offer coverage for every appliance and home system on the property. There’s no one right option when it comes to home warranty plans, so instead of choosing a one-size-fits-all solution, read on to find out how to choose the one that’s best for the situation.
Choosing the Right Plan Provider
Before even thinking about coverage options, homeowners need to choose a home warranty plan provider. They should look for companies that have experience in the field, good reputations, and plenty of options to choose from. Homeowners can get the search started on the right foot by visiting 2-10.com.
Understanding Coverage Options
Most home warranty companies offer three different levels of protection, including:
- Kitchen appliances only
All home appliances
All home appliances and essential systems
Keep in mind that the more a plan covers, the more it will cost in terms of monthly fees. Of course, those monthly fees pale in comparison to the cost of replacing major appliances and equipment out-of-pocket. When in doubt about which type of plan will offer the greatest value for the money, request quotes for multiple plans.
Questions to Ask Before Choosing a Plan
There may be no one-size-fits-all solution for choosing home warranty plans, but there are some questions that homeowners can ask themselves and their providers. Before committing to any specific home warranty plan, make sure all of the following questions can be answered clearly.
Are the Appliances New?
New appliances are generally covered under manufacturers’ warranties. Of course, these are unit-specific, and they rarely last longer than a year. With that said, it makes little sense to take out a full home warranty on a newly built house with new appliances and equipment since it should still be covered under the original manufacturers’ warranties.
Are There Pre-Existing Problems?
Home warranty companies want to help their clients keep everything in working order, but they don’t generally pay for repairs to address pre-existing problems. Be honest with the service provider and ask whether there are plans that will cover any additional issues that come up.
Will the Warranty Pay for Routine Maintenance?
Most home warranties require homeowners to provide their major appliances and systems with routine preventative maintenance, but not all of them will cover those services. It’s also common for home warranty companies to offer higher levels of coverage that pay for annual inspections and professional maintenance, which are always worth the money.
What Is the Plan Limit for Repairs or Replacements?
Every home warranty plan has coverage limits, but they vary based not just on the plan provider but also on the type of warranty requested. Keep in mind that most major appliances and systems cost a good deal to replace, so if the plan has a low limit, that can leave homeowners on the hook for paying out-of-pocket if multiple pieces of equipment break down in the same year.
Take the Time to Do Some Research
Any homeowner who plans to take out a home warranty should devote some time to researching not just different providers but also what kinds of options each of them provides in terms of plans, coverage limits such as inspections like radon mitigation, pricing, and other considerations. When in doubt, reach out to request quotes for multiple plans, and use that information to figure out which option will fit in the family’s budget.