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Tuesday, July 25, 2017 spacer
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Jay Fisher

Every year there are more complaints about home warranties then any other product. Part of the problem is what is expected by the Warranty Company from the customer versus what is actually covered under the contract.

Although technically not insurance, warranties are very similar in that the homeowner is paying an up-front fee to protect against a potentially huge replacement cost. If nothing breaks during the coverage period, the customer may in hindsight feel the fee was a waste of money, but that's what managing risk is all about. Are you financially prepared to replace major components as they are needed, or would you rather pay a set amount per year whether something breaks or not?

Most home warranty companies offer a variety of plans, each providing different levels of coverage, so be sure to read the details of any contract before buying. Even if you choose to renew the contract from year-to-year, double-check the details of your plan because coverage can change annually. Here is a general idea of what a homeowner can expect to find in each level of service:

Basic Coverage:

  • Plumbing systems
  • Range/oven
  • Dishwasher
  • Garbage disposal
  • Exhaust fans
  • Sump pump
  • Water heater
  • Ceiling fans
  • Heating and electrical system components
  • Built-in microwave

Better Coverage:

  • A/C
  • Washer/dryer
  • Refrigerator
  • Garage door opener

Optional Coverages:

  • Pool
  • Spa
  • Well pump
  • Septic system
  • Standalone freezer
  • Central vacuum
  • Standalone refrigerator

The basic coverage plan cost about $400 to $500 per year. Some companies require the year upfront while others will allow monthly payments. All the companies have a $50 to$75 deductible per covered claim. We do have the coverage available through American Home Shield. If you're interested in a quote, call us at 702-254-7774

 

 

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