The Best 2022 Warranty Plans For Homeowners

We’re all familiar with the fact that warranties come with the purchase of a smartphone, personal computer, or car. However, many people are not used to the concept of a home warranty. Home warranty plans protect homeowners from unplanned expenses that come when an appliance breaks down. A home warranty policy will cover specific parts of the unit, the cost of labor, or a complete replacement if found necessary.

 

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Select Home Warranty

• Comprehensive plan options
• Response time up to 2 business days
• Easy methods for filing a claim

 

 

Total Home Protection

• Free coverage for 1 month
• Quick 24/7 response
• Pre-screened network of contractors.

Choice Home Warranty

• Plans are transferrable to new owners
• Free first month
• Uber-style dispatch method

A home warranty will cover home systems and major appliances. Normally, plans will include an electrical system, plumbing system, heating system, air conditioning, washing machine, and dryer. Many warranty providers also offer additional coverage for items such as swimming pool and kitchen appliances including freezer, refrigerator, garbage disposal, cooktop, and oven.

You also have the option to choose between monthly or yearly premiums. The annual fee would generally be cheaper in the long run compared to the monthly fee. Take note that every time a repair technician comes to your house for a service request, you will need to pay the service call fee stipulated in your contract. Depending on the policy and the provider, there might be a deductible as well.

Home warranty companies have different prices for their warranty plans. Usually, the price for a warranty plan is calculated with the property size and how many items will be included in the plan.

 

 

Is there a difference between home insurance and a home warranty?

Home insurance covers damages to the house or damages to personal belongings that are caused by a natural disaster. These include floods, fire, and other catastrophes. Often, home insurance policies would also cover damages from theft.

Home warranty differs from home insurance since it covers damages to an appliance or system only. A home warranty policy will normally cover damages caused by the normal wear and tear when you regularly use an item. Home insurance does not cover damage caused by regular wear and tear.

Do I need a home warranty policy?

Having a home warranty policy is a decent investment for homeowners. If your appliances have been with you for several years already, it’s better to be prepared for the time when something breaks down. Since it might be unpredictable for some, having a home warranty plan can back you up and lessen the financial burden. You’ll also get more sense of comfort knowing that you won’t have to break the bank for a new appliance unit.

A home warranty policy also has better price points when it comes to repairing and replacement compared to what you can get when you deal with it alone. Many warranty providers do not have requirements when it comes to the age of the appliance or the house itself. This helps homeowners who have older models that might need some repair soon. Homeowners can get the repair they need without having to shell out hundreds of dollars.

When you have a home warranty policy, it’s also easier to get in touch with trusted and reliable service contractors in your locality. This is a great deal for homeowners in their old age who find it more troublesome to do the repairs on their own. If you’re too busy and have no time to search for a reliable technician for an emergency, a home warranty plan will have your back.

Home warranty plans are also recommended for people buying and selling homes. If you are buying a house, having a home warranty plan gives you security. In the event that an appliance or home system stops working between the contract signing and move-in dates, you’ll be able to get it fixed. If you are selling a house, a home warranty is a great feature to attract buyers. It can also help you negotiate a better deal for your property. Prospect buyers can get assurance for most things in the house that could break down.

In this list, we’ve included some of the best home warranty providers in 2022.

 

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1. Select Home Warranty

Pros

• Flexible warranty plans
• Frequently runs discounts and promotions
• Several methods to easily file a claim

Cons

• The policy covers only the essential parts of an appliance
• Lower value cap on coverage for the first three months

Select Home Warranty is a sound and trustworthy option for homeowners on the lookout for a warranty plan. They have three plans that offer different types of coverage. The bronze plan covers kitchen appliances, the gold plan covers home systems, and the platinum is a combination of the bronze and gold plans. For an extra charge, you can add optional items to your plan. Select Home Warranty has 24/7 customer support availability, a decent response time, an online chat feature, and the assurance to send a technician to your address within two working days.

 

 

2. Choice Home Warranty

Pros

• Superb customer service
• Quick Uber-style dispatch system
• Comprehensive list of covered items

Cons

• Plans do not cover professional-grade items
• List of exclusions might be a turnoff

Choice Home Warranty is a popular option for homeowners mostly because of their excellent customer service available round the clock. The company utilizes a dispatch system similar to Uber which identifies the nearest contractor available so that they can come to your house as fast as possible. Their basic warranty plan also has a decent number of items covered along with the availability of optional items you can add to the Total Plan. This allows homeowners to get coverage for items that may not be covered by most fixed plans.

 

 

3. First American Home Warranty

Pros

• Guarantee for repair service for 30 days
• Replace items that cannot be repaired
• Covers damages caused by sediment, rust, or lack of maintenance

Cons

• Higher service fee compared to the industry average
• Offers cash in lieu of service if parts needed for repair are unavailable

First American Home Warranty is one of the top home warranty companies in the United States. They offer two types of plans along with the option to add other appliances. They have fewer points on their exclusions list compared to other warranty providers. First American Home Warranty has a wide network across the United States. The company has a 30-day guarantee for its service and promises to replace items that it cannot repair. Furthermore, First American Home Warranty boasts excellent ratings for its customer service. Their customer support is accessible 24/7 online or via phone.

4. Total Home Protection

Pros

• Prescreened network of contractors
• Offer one month free
• Live chat and 24/7 customer support

Cons

• The website might look too aggressive to new customers
• Need to call to get a price quote

Total Home Protection gets praise for the company’s dedication to solid and reliable service by having prescreened contractors respond quickly to service calls. For some new customers, the website might look too pushy but they also reassure customers of the company’s commitment to providing quality service. Total Home Protection offers three warranty plans and a list of optional items that customers can add. They also offer one month of free coverage although you will need to call them if you want to get a quote.

 

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Making Your Choice

All homeowners would know how important it is to keep home systems and appliances in tip-top shape. If you invested in some items that are quite pricey, then you’ll be thinking of ways to keep them running for longer. Buying a new appliance is no joke, especially one of the essential ones like your fridge. When your refrigerator breaks down, you’ll have nowhere to store food. You’d have to deal with the hassle of dealing with the items previously stored in the refrigerator unless you can get a replacement in a few hours.

But not everyone has the budget to just purchase a brand new unit on the spot. Most families would have set aside part of their budget for food and healthcare, but not for appliance replacement. Having a home warranty plan will protect you from unexpected costs when an appliance stops running. But you have to make sure that you are signing up with a reputable and trustworthy company.

Your warranty provider should lay out the terms and conditions clearly, especially their coverage limits, exclusions, and payout caps. It’s important to do your research on any company that you are interested in. Check out a couple of consumer reporting sites to see how the company deals with customer problems. Another essential thing to remember is how quickly your provider responds to your inquiries or claims. You do not want to be waiting for weeks just to get a response to an inquiry.

Getting the right plan would give you peace of mind about never having to worry about unexpected home repairs.