What Is Covered Under A Home Warranty
You might be wondering, what is covered under a home warranty? After all, it can be slightly confusing with the other types of warranties and insurance coverage you may already have in place.
That’s why in this blog post, we will break down what kinds of things you can expect to have covered under a home warranty. This will help you decide if getting a home warranty is worth it for you or not.
And to help you get the most from your home warranty, we have also included some of our top tips with you at the end of the article.
What Is Covered Under A Home Warranty
So many people confuse home warranty with home insurance, but in fact, they are very different from each other.
So then, what is covered under a home warranty?
#1 – HVAC System Repair
Your HVAC system is one of the most critical parts of your home, especially if you live in an area with extreme temperatures.
For example, if you live somewhere where the temperatures drops below freezing, it would be a nightmare to have your furnace stop working. Without a home warranty, this would mean you would need to pay out of pocket to get the heat in your home restored before your pipes start freezing and potentially causing more damage.
Whereas, if you have a home warranty, you would only need to worry about paying the deductible out of pocket and any difference in the brochure price vs what your service provider charges.
This can be a huge relief, especially if you live on a tight budget and weren’t expecting this type of repair to happen.
The same goes for homes in areas with very hot climates. If your air conditioner breaks, it can be a nightmare to wait for repairs, especially if you have young children or elderly people living in your home.
Thankfully, home warranties will cover most of the repairs needed to keep your HVAC system running smoothly.
Watch the video above to learn how regular maintenance for your HVAC system can help prolong the life of your system and prevent future breakdowns from happening.
#2 – Appliance Repair
Your appliances are also a very important part of your home. But, like anything else, they can break down and will need to be repaired or replaced. This is where a home warranty can come in handy as it can save you a lot of money on expensive appliance repairs.
You can have the following appliances repaired under a home warranty:
- washing machine
However, it’s important to keep in mind that not all home warranties are the same. Some home warranty companies will only cover certain appliances, while others will cover all of them.
It’s also important to remember that home warranty companies typically have a list of appliances that they consider to be “luxury” items. This can include things like wine refrigerators, ice makers, and more. If you have any of these types of appliances, it’s important to check with your home warranty company to see if they are covered.
#3 – Home Systems Repair
The final thing that is covered under a home warranty is your home’s indoor electrical and plumbing system repairs.
These are important as they are what keep your home running smoothly and allow you to have all of the modern conveniences that you enjoy.
With a home warranty plan, only your indoor electrical system will be covered. This can include things like your outlets, switches, wiring, and breaker box. Whereas, your outdoor electrical system will not be covered.
As for your plumbing system, a home warranty will typically cover both your indoor and outdoor plumbing. This can include things like your pipes, faucets, toilets, showers, and more.
What Do Home Warranties Not Cover?
Now that we’ve gone over what is covered under a home warranty, you might be wondering what isn’t covered.
In general, home warranties do not cover the following:
- exterior issues like siding, roof, gutters, etc.
- pest control
- structural damage
- cosmetic damage
- pre-existing conditions
- and many more.
If you are interested in getting a home warranty with Home Membership, go here to learn exactly what is covered and what isn’t.
What Are The Potential Savings From Home Warranty
Now that we’ve covered what is included in a home warranty, let’s talk about how much money you can potentially save by having one.
All of the things covered under a home warranty including your HVAC system, appliances, etc. are all very costly things to fix. Most of the time, you will be looking at a minimum of $100 – $150 just to call a repairman out to your house to diagnose what is wrong. That doesn’t even include the cost of replacement parts or labor to fix the problem.
If you have a home warranty, you will only need to pay your policy’s deductible and the difference in the repair costs based on the brochure which can save you a lot of money in the long run.
*Important note: The deductible will be different for every home warranty company, so make sure you do your research.
To give you an idea of how much money you can potentially save by having a home warranty with us, go here for a price overview in your specific state.
How to Get the Most Out of Your Home Warranty
Now that we’ve covered what is covered under a home warranty and how much money you can potentially save by having one, let’s talk about how to get the most out of your home warranty.
Here are a few tips:
1. Read the Fine Print
When you’re shopping for a home warranty, it’s important to read the fine print. This way, you’ll know exactly what is and isn’t covered under your policy. HomeMembership has no fine print – if it’s in the brochure – it’s covered!
2. Compare Coverage Plans
There are many home warranty companies out there and they all offer different coverage plans. So, it’s important to compare coverage plans to make sure you’re getting the best value for your money.
3. Know Your deductible
Your home warranty will have a deductible that you’ll need to pay when you make a claim. So, it’s important to know how much your deductible is so that you can budget for it.
4. Use a Licensed and Insured Contractor
When you need to use your home warranty, make sure you use a licensed and insured contractor. This way, you’ll be covered if something goes wrong during the repair process. A contractor (service provider) must have a license in order to do the necessary work and get paid for the repairs.
5. Keep Your Receipts
Whenever you have something repaired or replaced under your home warranty, be sure to keep your receipts. This way, you’ll have proof of the repair in case you need to use your home warranty again in the future.
By following these tips, you can be sure that you’re getting the most out of your home warranty.
We hope this blog post has helped you understand what is covered under a home warranty. If you have any further questions, please don’t hesitate to reach out to us. We would be more than happy to help you out.