Not all home warranties are the same, which makes shopping for the right one all the more important. You want to get home protection that is comprehensive, affordable, and from a company you can trust. But how do you tell which warranties and coverage plans are right for you? While a good warranty from a great company can minimize risk and save you money in the long run, a poor one can run you into trouble. You’ll want to be fully aware of all aspects of your warranty before you make a purchase, so here are six things to ask a home warranty provider before purchasing a plan from them.
What Exactly Does a Home Warranty Cover?
What exactly is covered by a home warranty will vary by plan and the company providing it. Make sure you work with a company who covers a wide range of appliances (such as your fridge or stove) as well as essential systems like plumbing, HVAC, and electrical. The best companies will allow you to customize your plan based on what you need covered; for an increased premium, you can also extend your policy to include additional systems that are specific to your home.
At Everything Breaks, we offer a wide range of home protection plans that allow you to customize what you cover while offering a wide range of pricing for any budget.
What Won’t My Home Warranty Cover?
Coverage under a home warranty can be situational. With most plans, your warranty likely won’t cover pre-existing conditions unless they were unknown at purchase of coverage. Improperly installed appliances will also be excluded from coverage, as will appliances that were poorly maintained. Neglecting to perform routine maintenance as required by your specific policy can affect your eligibility for coverage. Also, keep in mind that many things covered by your homeowners insurance policy (your roof, siding, gutters, etc.) will not be covered by a home warranty.
Make sure to understand what is not covered by your plan, and be wary of companies who try to hide their list of exclusions from you. Good companies will be upfront with what they do and do not cover.
How Much Will My Warranty Cost?
In most instances, you can choose to pay either a monthly or yearly premium for your home warranty. It’s also important to take service fees into consideration when selecting your warranty plan, as most policies have a service fee in addition to your monthly or yearly premium, though this varies depending on the company and the plan you select. Knowing in advance what extra fees will be required of you will help guarantee you won’t be hit with unexpected charges when you need a repair.
Most importantly, be sure to ask every company about the fees they charge. Some companies have hidden fees that rack up and make their policy prohibitively expensive. At Everything Breaks, we are upfront with what our home protection plans cost. We will never hide any costs from you, and our plans are some of the most price competitive in the business.
What is the Cancellation Policy?
Some warranty providers make it purposely difficult to cancel your plan and can even come with additional undisclosed charges. Asking about the cancellation policy before investing in a policy can save you a lot of trouble in the long run. At Everything Breaks, we allow you to cancel your home protection plan anytime you want. We don’t lock our customers into long-term contracts. Simply pay monthly and you are free to drop your coverage anytime you want!
Is There a Waiting Period?
Many warranties have a period immediately after signing up in which your policy will be inactive; any breaks that happen within this initial window of time will not be covered. This is not something shady that companies do. A 30-day waiting period is standard because it prevents people from signing up for a warranty just to fix something that is currently broken in their home.
Get an Affordable Home Plan Today
Repairs are a common part of being a homeowner, but they shouldn’t cost you an arm and a leg. If you’re in the market for a home warranty from a provider you can trust, call Everything Breaks (800-895-0842) today to find the right plan for your home!