The best home warranties do require an annual fee, but they can save you considerable sums of money if your air conditioning goes out, your water heater explodes, or your well pump stops working. Keep reading to learn about the top companies that provide home warranties today, what their plans include, and who they might be best for.
OUR SUMMARY OF THE TOP PROVIDERS
Home Warranties COMPANY REVIEWS
Frequently Asked Questions (FAQ)
The following questions and answers can help you learn more about home warranties and how they work.
What do home warranties cover?
Home warranty plans are all different, so you’ll want to make sure any plan you choose covers the components of your home you worry most about. Some home warranties only cover appliances like your refrigerator, stove, and dishwasher, while more comprehensive home warranties provide protection for your HVAC system, your home’s plumbing, your sump pump, and more.
How does a home warranty compare to a homeowners insurance policy?
Homeowners insurance protects your home itself as well as your property and any buildings you have on-site. Homeowners insurance typically comes with liability coverage as well, which can provide financial protection if someone is injured on your property.
A home warranty intends to protect major systems of your home that are not covered by homeowners insurance. However, both homeowners insurance and home warranties have the potential to help you save money in the long run.
Do home warranties have any hidden fees?
Home warranties often require a service fee each time you file a claim. These fees can range from $85 to $150, and they are paid on top of the monthly or annual fee you pay for home warranty coverage.
Service fees are not necessarily hidden fees, but they are still worth noting as you compare home warranty plans. While the repair or replacement of your home’s covered components are included in your home warranty policy, service fees are not.
Can I choose my own contractor?
Some home warranty plans let you work with any licensed contractor of your choosing while others assign a contractor to work at your home. If you want to have control over which company works within your home, make sure to choose a home warranty provider that lets you choose your own technician.
Can my home warranty deny my claim?
Home warranty coverage typically comes with a range of exclusions, which means having claims denied is fairly commonplace. Common exclusions include damage predating the home warranty purchase, poor maintenance or neglect, and unusual wear and tear. Make sure to read over your home warranty policy so you know what is covered and what isn’t covered ahead of time.