A home warranty can be a great investment for new homeowners. The plan covers systems and appliances, and can expand on manufacturer warranties that expire.
But is it worth it? And how do you know if it’s right for you? Read on to learn the 5 reasons you should get a home appliance warranty.
1. Peace of Mind
The kitchen is the heart of your home, where meals are prepared and memories are made. When your refrigerator, oven or dishwasher breaks down, it can be a major hassle and disruption to your daily routine. A home appliance warranty can help protect you from the high cost of repair or replacement.
With a home warranty service plan, you can rest assured knowing that your appliances will be repaired by a licensed technician within a reasonable time frame. Home warranties also take the stress out of locating a reliable repair professional by providing you with access to their network of pre-screened professionals.
However, it is important to note that a home warranty will not cover unforeseen events or accidents. Home warranties typically only cover repairs that are due to normal wear and tear.
2. Save Money
Taking care of your appliances is not only good for your home, it can also help you save money. By catching and repairing small problems before they turn into big ones, you can avoid expensive repairs.
Many homeowners choose to purchase home warranties as a way to save on appliance repair costs. Many home warranty companies offer plans that include both system and appliance coverage, with the number of appliances covered increasing with each plan tier.
Appliances and systems can break down without warning, leaving you with costly repairs that you may not be able to afford. To keep your appliances and systems running smoothly, consider the following tips:
3. Convenience
A home warranty company provides the service to repair or replace broken appliances and systems. You can think of it like home appliance repair insurance: simply file a claim and the company will send a technician to your home for inspection.
It is a great option for people who do not have an emergency fund or want to reserve their savings for other things. It also makes sense for first-time homeowners who may be unsure how to maintain their new home.
However, it is important to review the plan and carefully examine what is covered
and excluded. It is also wise to consider any add-ons. Premiums, exclusions and waiting periods vary by provider. Be sure to shop around for the best deal on a home appliance warranty that fits your needs. You can find many options online.
4. No Hassle
Home warranties are a hassle-free way to get appliances repaired. After submitting a service request via the customer portal or over the phone, the warranty company will send a technician to your house as soon as possible.
Some companies even have their own repair network, which can speed up the process by eliminating the need to find a contractor yourself. This also helps to ensure that you are getting the best and most professional services available.
As with any other purchase, it is important to carefully review the terms of a home appliance warranty before signing. Make sure you understand any limitations on coverage, as well as any extra features and upgrades offered by the provider. Also, be sure to consider the annual premium as this may vary from one company to another.
5. Save Time
If you have a home warranty, you can rest easy knowing your appliances and systems are covered. That means you don’t have to collect contractor quotes or tinker with repairs yourself, which can save you time.
A home warranty can help you predict out-of-pocket costs for your home, which makes it easier to budget for maintenance expenses. That can be beneficial for homeowners who don’t have an emergency fund or prefer to reserve their money for other purposes.
One important thing to keep in mind is that warranties typically don’t cover damage caused by “improper maintenance.” That means if your refrigerator or dishwasher breaks down because you didn’t replace a filter, for example, a warranty company won’t pay to fix it. That said, you can reduce the chances of improper maintenance by following a regular maintenance schedule.
