Your Guide to Home Warranties
A home warranty offers you financial protection against unforeseen expenses. A home warranty offers you financial
Your Guide to Home Warranties
A home warranty offers you financial protection against unforeseen expenses.
What is a Home Warranty?
These days, just being a homeowner is an accomplishment in itself, but it comes with various (and expensive) costs when things go wrong. Because of this, it’s best to get a home warranty plan in place before something eventually does go wrong, that way you know you’re ready to weather any storm that comes your way.
Having a home warranty plan means you could be covered in the event of major system or appliance failures. Should something like this break or fail, you may only have to pay a small fraction of the average repair cost. This kind of security is not provided by the usual home insurance policies you might take out on your home; a home warranty offers that crucial extra layer of protection against disaster.
For more information on what exactly could be covered by a home warranty, keep reading this page.
Benefits of Having a Home Warranty
Unlike home insurance, which protects your home and personal belongings against things like fires and burglary, a home warranty offers you financial protection against the failure of home systems and appliances.
Because home warranties can allow you some further peace of mind, it’s usually a good idea to have one. Some things to consider when you’re comparing different policies are the cost of the policy, the level of support offered, the range of devices covered, and typical response times.
You should always take the time to review a policy before you commit to taking it out. There’s a range of different home warranty providers, with each one offering different policies with different levels of coverage, so taking the time to research is important.
How Consumer Experts Could Speed up the Process
Get a quote
Use our form to assess your estimated affordability.
Complete our form
Complete our online form, and we could connect you with one of our partners.
We source a provider
If you’re eligible, we will find you a reputable lender, who will provide you with the best deal based on your personal circumstances.
Choose your plan
If you receive an offer, you’re good to go. You can get your home protected with your new home warranty plan.
What Does a Home Warranty Cover?
As you read above, home warranties cover sudden appliance breakdowns and system failures that aren’t covered under an insurance policy. But what exactly does one cover? Well, that depends on your type of cover, the provider you choose, and how much you spend on your warranty.
However, while these factors need to be considered, a typical home warranty protects you from things like plumbing troubles and broken refrigerators. Similar to the situation you’d be in if you were renting, where your landlord would replace or repair anything that breaks, a home warranty provider covers the majority of the cost of replacements and repairs, saving you time and money.
Other things in your home typically covered by a home warranty include:
- Heating systems
- Electrical systems
- Kitchen appliances
- Water heaters
- Garbage disposal
Many home warranty providers also let you customize your warranty plan so it suits you and your home as well as it can. You can find out more about some of the best home warranty providers in the US by reading our article.
How to Choose a Home Warranty Provider
While every when choosing a home warranty provider, it’s essential to assess your own specific needs before you go looking for a quote. How much do you want to be covered? How long do you want coverage for? What is your budget? Answering these questions is key to unlocking the first steps in your search for the best provider for you and your budget. Comparing quotes from multiple providers and carefully reviewing contract terms can help you find the best value for your situation.
How Much Does a Home Warranty Cost?
As well as the level of coverage you want (explored above) the cost of a home warranty also depends on factors like property size, location, and the optional add-ons you may choose.
Because of all the variations and options that come with home warranties, the typical cost of a plan is hard to pinpoint. Generally, a plan could cost you anywhere from $300 per year right up to $1200 per year. Obviously, there’s no obligation to spend the $1200 if you don’t need or want to; this is the ballpark figure for a more comprehensive plan. If you’re on a budget or only need basic coverage, then you could select the lower payment figure in line with what you expect to pay.
Get Your Home Warranty Sorted Today
If you want to find out how much a home warranty plan would cost you, but don’t want to go through the long process of exploring multiple providers and trying to work out which one is best, we’ve got good news…you don’t always have to.
Our partners will look to do this for you! Just answer the following question to be taken to our questionnaire, fill in our quick form, and we’ll look to put you in touch with our industry partners, who may be ready to provide you with a home warranty plan that suits you.
FAQs
What is a home warranty?
A home warranty provides financial protection against the breakdown of home systems and appliances, something your normal home insurance does not.
With a home warranty plan, you could be covered when major systems or appliances you use in your home fail so, if something does break or malfunction, you may only need to pay a small portion of the typical repair costs.
What do home warranties cover?
A home warranty provider handles most of the costs for repairs and replacements for things like:
- Heating systems
- Electrical systems
- Refrigerator
- Kitchen appliances
- Clothes washer
- Air conditioning
