Kola Dimitry
Member
A home warranty is basically optional insurance you can buy for your home, mainly your main electrical systems and appliances. With a home warranty you pay either a fixed monthly payment or a yearly one to cover the costs of repair, maintenance, or replacements of your appliances and mechanical systems within the coverage. You usually have to buy it from the original manufacturer. This is why some people call it a "bargain", because you end up paying less for the home warranty than for the entire house! There are many different companies you can buy a home warranty from; they all have their own special policies and guidelines for buying a home warranty.
Most home warranty companies have two main options of plans. The plans include a service plan or a maintenance plan. Depending on which plan you choose, there is usually a service fee included in your monthly payment. Most providers also charge a standard yearly service fee for repairing defects in your equipment. Some providers have plans that include an emergency service fee if your equipment breaks down within a specified time frame, typically 24 hours of use. Other providers don't have this fee but may have a "full" service fee if you need to send in your equipment for repairs.
The plans that home warranty companies offer vary greatly, so be sure to read the fine print very carefully before you decide what plan to go with. Most providers do require you to have a service plan, but most also offer optional coverage such as extended warranties on some parts of the equipment, and up to one year of rental or non-refundable coverage in the case of a total loss. These plans can be really useful if you only use it for a short amount of time each year; for example, a vacation home or something along those lines. Most providers also offer some sort of homeowner's discount for large appliances, such as washing machines, dishwashers, and furnaces. Be sure to check with your provider to see what types of discounts they offer for multiple people, as well as discounts for buying multiple items.
Home warranty:
A home warranty may be just what you need to relieve your growing anxiety over rising home repair costs. A home warranty policy is basically a contract that agrees to provide a covered homeowner with discounted future repair and replacement services during agreed intervals. But the words "home warranty", often are not used explicitly to imply that a particular contractual warranty is actually being offered.
There are two kinds of home warranty policies: one that covers all manufactured home systems and appliances and another one which specifically covers repairs or replacements only to specific parts. For example, let's assume that your boiler is on the verge of breaking down. In such a case, a home warranty policy which covers all boiler related repairs and replacements might be a good deal. This would save you from spending on completely new equipment which might cost you a lot more in the long run. However, if your boiler was only covered for some of the repairs and replacements, then you would end up with a nasty surprise if something major happened and you had to spend thousands more on the repairs.
It has been observed that most homeowners purchase home warranties that do not cover all possible repairs and replacements that might occur in the future. For example, a manufacturer's warranty might offer you complete coverage for the breakage of your air conditioner or refrigerator, but if you happen to live in an area where severe winters are common, you would probably have to pay quite a premium to get this kind of coverage. In such a scenario, it makes more sense to purchase a policy that provides coverage for a small percentage of the total cost of such breakages rather than spending a huge amount on new appliances. Of course, a home warranty does not cover actual damages to your home systems and appliances and can be considered as a safety net only. Home owners insurance is not a financial replacement for homeowner's insurance.
Most home warranty companies have two main options of plans. The plans include a service plan or a maintenance plan. Depending on which plan you choose, there is usually a service fee included in your monthly payment. Most providers also charge a standard yearly service fee for repairing defects in your equipment. Some providers have plans that include an emergency service fee if your equipment breaks down within a specified time frame, typically 24 hours of use. Other providers don't have this fee but may have a "full" service fee if you need to send in your equipment for repairs.
The plans that home warranty companies offer vary greatly, so be sure to read the fine print very carefully before you decide what plan to go with. Most providers do require you to have a service plan, but most also offer optional coverage such as extended warranties on some parts of the equipment, and up to one year of rental or non-refundable coverage in the case of a total loss. These plans can be really useful if you only use it for a short amount of time each year; for example, a vacation home or something along those lines. Most providers also offer some sort of homeowner's discount for large appliances, such as washing machines, dishwashers, and furnaces. Be sure to check with your provider to see what types of discounts they offer for multiple people, as well as discounts for buying multiple items.
Home warranty:
A home warranty may be just what you need to relieve your growing anxiety over rising home repair costs. A home warranty policy is basically a contract that agrees to provide a covered homeowner with discounted future repair and replacement services during agreed intervals. But the words "home warranty", often are not used explicitly to imply that a particular contractual warranty is actually being offered.
There are two kinds of home warranty policies: one that covers all manufactured home systems and appliances and another one which specifically covers repairs or replacements only to specific parts. For example, let's assume that your boiler is on the verge of breaking down. In such a case, a home warranty policy which covers all boiler related repairs and replacements might be a good deal. This would save you from spending on completely new equipment which might cost you a lot more in the long run. However, if your boiler was only covered for some of the repairs and replacements, then you would end up with a nasty surprise if something major happened and you had to spend thousands more on the repairs.
It has been observed that most homeowners purchase home warranties that do not cover all possible repairs and replacements that might occur in the future. For example, a manufacturer's warranty might offer you complete coverage for the breakage of your air conditioner or refrigerator, but if you happen to live in an area where severe winters are common, you would probably have to pay quite a premium to get this kind of coverage. In such a scenario, it makes more sense to purchase a policy that provides coverage for a small percentage of the total cost of such breakages rather than spending a huge amount on new appliances. Of course, a home warranty does not cover actual damages to your home systems and appliances and can be considered as a safety net only. Home owners insurance is not a financial replacement for homeowner's insurance.
Best Home Warranty Companies Offer a Lifetime Warranty on Their Workmanship
You need to look for home warranty companies that have a good reputation and have been in business for a number of years. American Home Shield is definitely the best home warranty companies available, with Choice Home Warranty just behind and First American Home Warranty right on its heels. To help you compare plans and get lower quotes from three different companies, you should request at least three home warranty quotes. The more quotes you get, the easier it will be to compare plans and decide which one is right for your needs. Getting the protection you need at a reasonable price is what home warranties are all about, so take the time to compare your options and find the best protection plan for your home and family.
American Home Shield is especially known for their workmanship guarantee. They offer customers with a lifetime workmanship warranty on all of their ceiling fans, heaters and air conditioners, garage door openers, water heaters, pool pumps and water purification systems. Also, they work hard to make sure you get just the best materials to put in your home, with a long five-year warranty on their heating elements. The workmanship warranty is one of the best features of American Home Shield, offering you peace of mind that your purchase is backed by the best possible customer service. Also, they have a nationwide network of distributors that is available anywhere. There are many companies out there that give you home warranties, but few of them stand behind their workmanship and offer you a lifetime warranty on your purchases.
