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You just purchased your dream house, complete with the perfect décor. A few months in, everything's settled in your new home, and you're focused on rebuilding your savings. However, unexpectedly, your heater fails during winter, incurring a significant expense.
With a new mortgage and limited savings, this unforeseen cost is daunting. Luckily, your home protection plan covers this, along with major systems and appliances, including "sewer line insurance" and "home appliance warranty." Fortunately, when you purchase a home protection plan that will cover expenses as well as any major systems and appliances that may need repair or replacement in your home.
Home warranties typically include coverage of the following major appliances and systems:
Central air conditioning systems
Central heating systems
Humidifiers
Interior electrical systems
Refrigerators
Ranges, ovens, cooktops
Dishwashers
Built-in microwaves
Water heaters
Plumbing systems, including "water line insurance coverage"
Garbage disposals
Washers and dryers
Garage door openers
Roof leaks
Home insurance is not always enough, home maintenance insurance and appliance service plans are offered to both new and existing homeowners. They are often presented during a new home purchase but can be acquired anytime thereafter. There is no time restriction as to when a homeowner can decide to purchase a warranty plan.
Typically, a home warranty costs a few hundred dollars, payable in a lump sum during a new home purchase. This payment is collected at closing. Sellers, agents, or family members can also buy warranties for home-buyers. If filing a "home appliance insurance" claim, you might pay a service fee or deductible. Different protection plans include appliances like air conditioning systems, plumbing coverage, sewer lines, tv protection plans, electronic insurance, and more. In the long run, having a warranty can save you a lot of money.
Filing a claim is a very simple process. Before filing your claim, review your insurance contract to verify the item that you need to repair or replace is covered under your plan. Once you verify this information, you'll complete the following steps:
1. Contact your home warranty insurance company to file a claim.
2. The warranty company will review their home warranty plans to verify that you have a plan that covers the item in question.
3. The warranty company will schedule an appointment for you with a local contractor.
4. The contractor will diagnose the situation and make a recommendation to repair or replace the item in question.
5. Repairs and replacements will be carried out.
6. You will pay a cost in the form of a service fee to the warranty company.
7. Process is complete.
Choosing the right home warranty depends on your home's needs. For homes with older appliances, consider a plan with comprehensive "home appliance insurance." The best way to select the right home protection plan for you is by doing your research on what each company has to offer with their plans. For instance, if you have a home with older appliances then you may be interested in locating a plan that has home appliance insurance. Want to learn more before choosing? Here are some tips and tricks to get you up-to-date. Learn more about your options and check out reviews to find top home warranty providers. Secure the right plan and join many homeowners enjoying peace of mind with reliable protection.
Choice Home Warranty is a budget-friendly option ideal for first-time homeowners. Choose between their customizable Basic Plan (12 items) and Total Plan (16 items) to receive up to $3,000 in coverage for each successful claim.
Jake Hill, CEO of DebtHammer, highlights that Choice Home Warranty is also "especially helpful for owners of older homes" since they don't "deny coverage based on the age of your home's systems or appliances."
Instead of varying their service fees, they only charge a flat $85 per claim. You also get your first month free if you're a new customer.
Why we chose Choice Home Warranty: A stand-out from other services, Choice Home Warranty responds swiftly to queries and claims, delivers reliable customer service, and has affordable annual premiums.
Our experience: We were impressed with Choice Home Warranty's fast turnaround time when submitting online and phone claims. The support specialists we worked with were knowledgeable and quickly provided helpful information.
Select Home Warranty provides competitively priced coverage for most major appliances and systems. Their premiums start at just $36/month, which is more affordable than other home warranty companies.
Jennifer Spinelli, real estate professional, investment advisor, and founder and CEO of Cash For Houses, calls Select Home Warranty "reliable and trustworthy." She adds that she no longer worries about "costly repairs or replacements due to breakdowns or malfunctions."
Three different plans are available and all of them include free roof leak coverage. However, Select Home Warranty's services aren't available in Nevada, Washington, or Wisconsin.
Why we chose Select Home Warranty: Their affordable premiums and minimal fees elevate them above their competitors. It's also convenient that they offer two months free with their annual plan.
Our experience: We were particularly impressed with Select Home Warranty's 24/7 friendly phone support and free roof leak coverage.
Operating since 1971, American Home Shield is the largest and most established company in the US home warranty market, with over two million members.
Tommy Gallagher, former investment banker and founder of Top Mobile Banks, was "impressed with the range of contractors they have available and the quality of service they provide."
Choose from their three customizable plans—ShieldSilver, ShieldGold, and ShieldPlatinum. The ShieldSilver plan only covers 14 major systems, while the ShieldGold plan covers 23.
For additional perks, ShieldPlatinum comes with complete system and appliance coverage. This includes cost-saving add-ons like free HVAC tune-ups, unlimited A/C refrigerant, coverage for rooks leaks and code violations, and higher payout caps for repairs and replacements.
Why we chose American Home Shield: They operate in 47 states and Washington DC, and you can customize your plan. American Home Shield automatically covers duplicate items, plus older items with rust or corrosion.
Our experience: We found American Home Shield to be an excellent option for anyone seeking highly customizable plans and access to an extensive network of contractors. We could easily find a plan that suited our needs.
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