If you are a homeowner, you need to purchase a home warranty plan to cover your home appliances repairs and replacements such as cookers, cooling, and heating systems, microwave, refrigerators, and many others. American residential warranties offer great protection against any unforeseen risks that can damage your home appliances and risks. However, home warranty plans might be good for some homeowners and might not be ideal for others.
Here Are The Advantages of Home Warranty Plans:
1. Offers you peace of mind
When you buy a home warranty policy, you will have peace of mind knowing that if any of your appliances and systems break down, you will have professionals fix it at any time of the day or night. A home warranty plan can be helpful for homeowners who are not very handy. It can also be beneficial to new homeowners who do not understand how some of their home systems work.
2. It saves money
A home warranty plan can help you to budget your money well. If you have a home warranty, you have fewer unforeseen costs to bother you. A warranty plan will help you cater to the costs of repairing or replacing your home appliances and systems, hence saving your money. You will also budget for your finances well as you pay the premiums upfront, and you will know how much you need to pay for the deductible costs.
3. It provides valuable maintenance
A home warranty policy helps you check your home systems and appliances for any faults twice per year. They provide services such as checking electrical connections of your systems, cleaning the systems, and replacing filters. Hiring a contractor might cost you more than the premiums you pay to the warranty company to maintain your home systems. A home warranty company helps you save on preventive maintenance costs and discover any faults in your appliance while they are small and manageable.
4. It saves your time
When you have a home warranty cover, you do not have to spend a lot of time looking for contractors to repair your home appliances and systems. If your home appliances or systems breakdown at any, either during the day or night, you just need to call your home warranty company, and they will send a contractor immediately.
You will only pay for the service call costs, and the home warranty company covers every other cost. You should explain the problem to the company to send the right professionals to your house to repair the system or appliance.
5. Home warranty service is available 24 hours
Mostly, home warranty companies operate during the day and at night. If you have any emergency at night, there is always a person to help you out. If your system breaks down at night, you have fewer worries as the home warranty company is there to help you. Additionally, you only need to renew your contract after a year, meaning you have full coverage throughout the year.
Disadvantages of home warranty plans
If you are thinking of purchasing a home warranty plan, it is crucial you know some of its disadvantages, such as:
1. Long wait times
After you have notified the home warranty company about your system or appliance breakdown, you might wait for a longer time than you expected before the warranty company can send a contractor to your house for the repairs. The long waiting time can be disappointing in case you have emergency repairs.
2. Coverage
Most home warranty companies do not cover items that have pre-existing conditions. It is not easy to know the pre-existing conditions in your appliances or systems even by inspecting. You should read your contract carefully to know what items are covered and which are not covered to avoid disappointments on the day you want to file your claims.
3. Price
The home warranty plan is quite expensive. You might experience common home appliance repairs, which costs less money than the premiums you pay to the home warranty company. You need to pay for service call costs even after paying premiums for the cover, which might be quite expensive. If you expect fewer repairs in a year, there is no need to buy a home warranty policy. Sometimes you might not even use the cover, and you risk losing the money you had paid for the premiums.
Bottom line
Home warranty policy has advantages to homeowners as it helps them spend less money to replace and repair home appliances and systems. You should consider its advantages and disadvantages and decide if you need the warranty to cover the repairs and replacements of your home appliances.
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