Having a home warranty can actually offer the homeowner the necessary peace of mind in case things go wrong. But at the same time, it is also necessary to realize that the home warranty insurance companies come with in-built wriggle room, which makes it really easy for them to not make the payments. As a result, numerous clients complain to the Better Business Bureau regarding the plans, often because they don’t get the expected payouts.
So, if you are planning to buy a home warranty plan, first you must evaluate the scope that you would be able to use this. Besides, there are some limitations as these plans don’t cover the non-mechanical items like as the structure of home or the windows.
Questions that you should ask a home warranty insurance provider:
So, before you purchase a home warranty, here are the things that you should ask the home warranty insurance companies.
- Do you have any protection already? In case you are paying for appliances with credit card, then you will get covered. Some of the credit cards actually double the warranty of the manufacturer, generally up to a year on the items that you buy with this card. Some of the cards also offer an added 2 hours of protection, irrespective of how long the warranty of the manufacturer is.
- How much the home warranty insurance costs? The answer mainly depends on the type of the plan that you are planning to buy and the home warranty insurance companies you select. The home warranties can be of three types like home warranty for all the appliances, home warranty for any specific appliance or home warranty for the appliances and electrical and plumbing systems. So, here the costs of home warranty insurance vary on the basis of the coverage type that you select.
- Does this insurance repair or replace broken items? The majority of the home warranty insurance companies explain that in case the repairing job is too expensive, then the provider will be ready to replace broken items instead. In this situation, the home warranty service provider may offer you the depreciated value only. But here you will have to pay more to receive the same model, which you had before.
- What is the limit of these plans? The limit of these plans mainly depends on the type of home warranty plan you choose and also on the provider.