Home buyers rely on home warranties as a form of peace of mind when purchasing a new house, yet choosing the appropriate plan requires reading through sample contracts from providers.
If companies consistently reject claims, that should raise red flags. You should check with both the Better Business Bureau and state regulators to identify complaints against them. Here are a couple of suggestions to get you started.
Type And Amount Of Coverage
Home warranties don’t fit one-size-fits-all. Before making the commitment, it is wise to do your research on providers and read sample contracts online in order to gain an understanding of how each policy covers appliances and systems; including coverage limits, actions that void it and add-ons (like icemakers and standalone freezers).
Home warranties can be an investment, so when selecting your provider make sure they offer quality plans at affordable pricing and have an outstanding track record. Home warranties could provide invaluable financial relief in the form of less financial stress in the future if you own older appliances and systems or are on a tight budget; also offering one as part of selling your house could make the sale go more smoothly for all parties involved.
Red Flags To Watch For
If a company refuses to let you speak directly with someone and keeps offering deals that seem too good to be true, it could be an indication that they’re running scams. A legitimate home warranty provider would enable customers to contact a representative via phone call, email or chat service.
Service contracts should also be easy to comprehend, clearly outlining what’s and isn’t covered under their plans. Many companies post sample contracts online so customers can review coverage caps and exclusions before making a commitment.
Before purchasing a home warranty plan, it’s wise to do your research on consumer reviews from websites like Google Reviews, Consumer Reports and Angi. Checking these resources can give you an accurate snapshot of customer service provided by different providers and may help narrow your choice down further. It also makes sense to obtain quotes from multiple providers before making your final decision.
Read The Fine Print
Are You Shopping for Home Warranties for the First Time? – Starting Out can be intimidating when considering home warranties for the first time, which is why it is crucial that you conduct thorough research into providers, compare quotes and examine sample contracts before making your final decision.
Ask questions about licensing and bonding status, contract terms and coverage limits before selecting your provider. Many providers also provide sample contracts online so you can identify potential restrictions or exclusions before entering a binding contract agreement.
Home warranties can be an excellent way to alleviate unexpected repairs for appliances and systems in your new or existing house. Millions of homeowners believe it’s worth their annual premiums; Brock England from Tulsa writes about automotive, law, personal finance, and health topics. His expertise includes news articles covering automotive, law, finance and lifestyle topics as well as lifestyle pieces written over 15 years.
Talk To People You Trust
At this stage, research should always come first; however, seeking recommendations from friends or family can also be helpful. Before making a final decision on any provider, be sure to ask questions about their plan, waiting period, cost and coverage limitations as well as any details they may offer regarding service plans and cost structures.
Once you’ve gathered information and narrowed your choices, get quotes from multiple providers. Most quotes should include sample contracts to help compare add-on coverages, claims processes and other terms between providers. It’s a good idea to read reviews on providers’ websites and verify BBB ratings before selecting your warranty company. In conclusion, choosing a home warranty can be an excellent way to protect your investment while relieving stress in case something goes wrong – all it takes is finding one that best meets your needs! Roxanne Downer is a news, finance and lifestyle writer with over 15 years of experience writing for publications including Deutsche Bank, BNY Mellon and MSN Money among many others.
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