Top Home Warranty Companies in Plainview
Home Warranty Company Plans in Plainview
There are three types of home warranty plans: appliance plans, system plans, or combination plans. Appliance plans cover the repair or replacement of major home appliances, such as refrigerators, ovens, dishwashers, and washing machines. System plans cover the repair or replacement of major home systems, such as electrical, plumbing, heating, and air conditioning. Combination plans cover both appliances and systems.
Home warranty companies offer a variety of coverage options and services. Some companies also offer additional coverage for items such as pools, spas, septic tanks, and roofs. Home warranty companies typically charge a monthly or annual fee for their services. Some companies offer discounts for multiple-year contracts.
4 Benefits of a Home Warranty
A home warranty is a service contract that helps homeowners cover the cost of repairing or replacing home systems and appliances. Home warranty companies typically offer plans that include coverage for your home’s major systems, such as electrical, plumbing, and heating and air conditioning, as well as appliances like refrigerators, dishwashers, and ovens.
There are many benefits to having a home warranty, including:
- peace of mind: With a home warranty in place, you can rest assured knowing that if something goes wrong with a covered item in your home, the repair or replacement costs will be covered.
- budget protection: Home repairs can be expensive, and unexpected repairs can easily blow your budget. A home warranty can help you protect your budget by covering the cost of repairs or replacements.
- convenience: Home warranty companies typically have a network of pre-screened, qualified contractors that they can dispatch to your home to make repairs. This can save you the time and hassle of finding a reputable contractor yourself.
- coverage for items that may not be covered by homeowners insurance: Most homeowners insurance policies have limits on the coverage they provide for certain items, such as appliances and systems. A home warranty can help fill in the gaps by providing coverage for these items.
What is the Difference Between a Home Warranty and Home Insurance?
A home warranty is a service contract that covers the repair or replacement of major home system components and appliances. Home insurance, on the other hand, protects your home from events like fire, theft, and severe weather damage.
While both home warranties and home insurance are important, they serve different purposes. A home warranty can help you budget for unexpected repairs, while home insurance can help you rebuild your home if it’s destroyed.
Here’s a more detailed look at the difference between a home warranty and home insurance:
Home Warranties vs. Home Insurance: Coverage
One of the biggest differences between a home warranty and home insurance is coverage. A home warranty typically covers the repair or replacement of major home systems and appliances, while home insurance covers damage to your home from events like fire, theft, and severe weather.
Here’s a more detailed look at what each type of coverage includes:
Home Warranty Coverage
– HVAC systems
– Electrical systems
– Plumbing systems
– Water heaters
– Appliances (dishwashers, ovens, etc.)
Home Insurance Coverage
– Fire damage
– Wind damage
– Hail damage
– Theft or vandalism
– Water damage (from leaks or flooding)
Home Warranties vs. Home Insurance: Cost
Another big difference between a home warranty and home insurance is cost. A typical home warranty costs between $250 and $500 per year, while home insurance typically costs 0.5% to 1% of your home’s value annually.
For example, if your home is worth $200,000, your annual home insurance premium would be $1,000 to $2,000.
Of course, the cost of both a home warranty and home insurance will vary depending on factors like the size and age of your home, as well as the level of coverage you need.
How to Buy a Home Warranty in 4 Steps
A home warranty is a service contract that covers the repair or replacement of major home appliances and systems, such as your furnace, air conditioner, plumbing, and electrical system.
While a home warranty is not required when you buy a home, many buyers find that having this type of coverage provides peace of mind knowing that if something goes wrong with their home, they will have help paying for repairs or replacements.
If you’re thinking about purchasing a home warranty, here’s what you need to know:
- Determine if you need a home warranty. If you’re buying an older home, or one that has been on the market for awhile, it may be a good idea to get a home warranty. This type of coverage can also be beneficial if you’re not able to do your own home repairs or don’t have the time to deal with them.
- Shop around for home warranty companies. There are many different companies that offer home warranties, so it’s important to compare their coverage and costs before choosing one. Be sure to read the fine print so you know exactly what is and is not covered under the warranty.
- Consider getting a warranty for your appliances. In addition to covering your home’s major systems, you may also want to purchase a warranty for your major appliances, such as your refrigerator, oven, or washing machine. These types of warranties can often be purchased separately from your home warranty.
- Make sure you understand the coverage. Be sure you understand exactly what is and is not covered under your home warranty before you purchase it. This will help you avoid any surprises down the road if something goes wrong with your home.
Why is a Home Warranty a Good Investment?
A home warranty is a service contract that helps homeowners cover the cost of unexpected repairs or replacements on their home’s major systems and appliances.
Home warranties are an optional (but often recommended) service, typically offered by home warranty companies, that help you budget for and manage the costs of keeping your home in good working condition.
While a typical homeowner insurance policy covers damage caused by events like fires, storms, and burglaries, it doesn’t cover the costs of repairing or replacing your home’s major systems and appliances when they break down due to normal wear and tear.