Over the years, home warranties have evolved to meet the needs of homeowners everywhere. However, property owners are still confused about the different plans being offered and what those plans actually cover. If you’re confused, you’re not alone, so now is a good time to explore just what components are covered by various plans. To begin, industry experts always recommend reviewing the provided list of components prior to deciding which plan to select.
Choose Your Plan Carefully
Home warranty companies generally offer different coverage levels, which only makes sense as homeowners don’t all share the same level of need. Basic plans, for example, might cover basic kitchen appliances like the range, cooktop, oven, refrigerator, dishwasher, and any built-in microwave. However, not all home warranty companies offer the same coverage. That means property owners must verify what is covered by any plan they’re considering.
Things get interesting when property owners opt for higher coverage levels, as those plans cover far more appliances and systems. For example, top-tier plans cover virtually any appliance plus plumbing and electrical system components. That means homeowners are able to select a plan that meets their needs. Here is where some property owners scratch their heads trying to identify which plan to choose.
Newer homes rarely need extensive work on plumbing and electrical systems, so owners may opt for a less-inclusive plan that covers fewer items that are more likely to cause problems. For example, studies have repeatedly shown that newer appliances tend to break down more often than their older counterparts. To compensate for the increased odds of having problems with new appliances, owners of newer homes may choose a home warranty plan that focuses on appliances rather than larger systems.
On the other hand, owners of older homes may be more concerned about aging electrical and plumbing systems causing problems. Yes, appliances may also be a concern, which means those owners are more likely to look for a higher level of coverage. Analyzing what needs are present makes selecting an appropriate home warranty easier. If you’ve got questions about different coverage options, don’t hesitate to ask the warranty provider to clarify different coverage options.
Be Aware of Maintenance Issues
One of the problems homeowners face is having the home warranty provider deny coverage because an appliance or system was not properly maintained. Prior to choosing a plan, review the requirements included to ensure they’re reasonable for your specific situation. Scheduling routine maintenance for various appliances and systems adds another bill, but paying attention to maintenance means the appliance or system will function more efficiently and last longer.
Some home warranties don’t have adequate descriptions of required maintenance. That makes determining which systems need routine maintenance far more difficult. If the requirements aren’t clearly outlined in the contract, ask for clarification of those requirements. Doing so makes it easier to understand just what you’ll be responsible for over the term of the warranty.
Choose the Plan that Meets Your Needs
Once you’ve clarified what’s covered by each plan and analyzed your home’s needs, it’s time to make a choice. While a more comprehensive plan will cost more, that plan may actually save you money over the term of the warranty if covered appliances or systems need repairs or replacements.