When purchasing home warranty services, you don’t always look at the cost first. Of course, you need to look at your budget, but it goes beyond that most times. You’ll need some basic home warranty insurance tips to show you more things you need to know.
So now, you’ll realize it goes beyond just the charges. Keep reading for other factors to look out for.
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Home Warranty Insurance Tips
- Most home warranty companies limit which systems or appliances are covered. For example, a company might set a $5,000 coverage limit for all electrical system repairs.
- Examine the coverage restrictions before purchasing a plan. A sample contract on the provider’s website typically includes coverage caps.
- Review sites such as the Better Business Bureau, Trustpilot, and Yelp can provide valuable insight into a company’s reputation. These websites usually publish aggregated rankings for businesses based on consumer input, which helps you find prevalent issues among dissatisfied homeowners.
- Different home warranty plans cover different appliances and systems in a home. What household appliances and systems are you most afraid of breaking? Is it your water heater or your air conditioner that’s the source of the problem?
Consider whether these are part of the plans you’re considering. Some companies only provide certain appliances and systems as optional add-ons. To receive coverage from such companies, you would have to pay a higher price.
- You will be charged a service fee if a malfunctioning system or appliance needs to be fixed or replaced. Every repair visit can cost anything from $75 to more than $100 in service fees. Look for a home warranty with a lower service cost.
- Consider how simple it is to file a claim with the home warranty companies you’re considering. Also, look at how quickly you’ll receive a response. Some businesses will respond to you faster than others
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