Purchasing a home warranty can seem like an easy way to protect your investment, but it's essential to do your research and ask the right questions before making a decision. Here are 7 crucial questions to consider.
A typical home warranty will cover repairs or replacements for specific systems and appliances, such as HVAC, plumbing, electrical, and roofing. The coverage limits may vary depending on the provider, but they usually range from $500 to $3,000 per year.
The waiting period for a home warranty claim can vary depending on the provider and the type of coverage. Some providers may require you to wait 30 days, while others may only require you to provide proof of ownership or damage.
Yes, home warranties usually have exclusions and limitations for specific items, such as pool heaters, certain types of appliances, and repairs caused by normal wear and tear.
The reporting process may vary depending on the provider, but generally, you will need to contact the warranty company via phone or online chat. Some providers may require you to provide proof of ownership, damage, or the item being repaired.
The average cost of a home warranty can range from $1,000 to $3,500 per year, depending on the provider and the level of coverage.
Yes, many providers offer discounts or promotions for new customers, such as first-time purchase discounts or referral fees.
Research the provider's reputation online by reading reviews from multiple sources, checking their Better Business Bureau rating, and contacting their customer service department to ask questions.
Source: Techs Slash