Although it isn’t considered as obligatory as something like home insurance, home warranty plans are a valuable option which you can look into that will help you to secure your house against any eventuality.
“But I already have home insurance coverage; isn’t it the same thing?” you argued. Well, if you aren’t aware, there are fundamental differences between home insurance and warranty.
The key difference between the two is that the insurance will protect the structure of the home and the possessions within it, whereas a home warranty will cover the home’s internal systems and large appliances, which home insurance policies do not. This is why a home warranty is a great option to give you the peace of mind, knowing that your entire property is covered.
One thing to point out is this: Much like getting home insurance, you must spend time when you compare and contrast the various plans and companies who offer them.
When you do start looking, here is what to focus on.
Reviews
I chose my home warranty policy based on the brilliant First American Home Warranty reviews which customers had left and I would recommend that you also pay particular attention to what people are saying.
When you find the need to use your policy, it is likely that you are in a difficult situation; this is why the actions of the company are so important. Whether people have a good or bad experience during this difficult time, you can bet your bottom dollar that buyers are going to take to the web – especially social media – to let their experience be known.
Pricing
The pricing system operates in a similar way to that of home insurance where you will pay for the cover and then decide on whether or not you will take a high deductible, or pay a lower deductible and a higher premium.
Focus on the policy which covers you best and ensure that the price is competitive. If you see a price which just looks too good to be true then it probably is and there are many companies which aren’t reputable which offer these low rates, but then they give you the type of customer service and attention which fits the low price, not what you want.
Listen to Experts
You’ll find plenty of websites and blogs where financial experts will do the hard work for you in terms of recommending the best home warranty policy of the month, pay attention to these and you may get yourself a bargain.
Watch out!
Just be careful when you start digging into the terms and conditions as these can differ for people who are in an area where natural disasters can occur. Living in Florida or California, for example, may mean that you need to ensure that you have the cover in the event of a natural disaster, as some policies won’t payout for an ‘Act of God’ such as this.
Last but not least, always read the fine print so that you know exactly what you are getting, and exactly what you are eligible to claim for.