If you are considering of including a home warranty in your home sale, or if you are thinking of buying an aftermarket home warranty for your own protection as your changeover into your new home, here are a few things to reflect on…
1. Home warranties are for a specific length of time.
Normally, a home warranty is written for a period of one year. It can be renewed. However, you may not obtain any notice that the home warranty is failing, for the reason that there is very small incentive for a carrier to inform you.
2. Not all home warranties offer the same level of coverage.
Every home warranty policy is dissimilar. Basic coverage may include your A/C, furnace, and major appliances. Coverage may be restricted to certain circumstances as well. Their goal, certainly, is to induce you to upgrade to a Plus or Gold plan which will offer better coverage. Of course, the cost will go up considerably.
3. The cost of home warranties varies greatly.
A home warranty policy can vary anywhere from $250 to $600 yearly, based on the level of coverage. How good the warranty is depends on number of loopholes written into the fine print. A lot of states don’t have regulations for governing home warranty companies. The clever shopper will verify which government agency regulates Home Warranty firms in their state and ensure for registered complaints before signing on the dotted line. Another option is to check the reputation of the appliance warranty companies on independent sites like http://www.homewarrantyreviews.com/
4. There is a deductible involved when you make a claim.
The sum can be anywhere from $50 to $100 per incident, depending on the policy. The majority of insurance companies won’t permit you to bundle repairs – because the deductible will be applied to each item.
5. You don’t have control over who does the repair work.
The home warranty carrier will need you to put forward your claim before the work is done and, in many cases, they will need that their contractor does the actual work. This leaves you out of the picture as to the time schedule, quality of workmanship, and other aspects of the work.
6. Customer satisfaction with home warranties isn’t a strong point.
Latest reviews show many customers are often astonished that certain home repairs are not covered by a home warranty. Reactions range from fairly satisfied to complete anger at the level of documentation needed to make any reimbursement safe. In most cases their claim was just utterly declined.
7. Claim denials are common
Most claims denials occur because of the following reasons:
- Improper maintenance
- Building Code violations
- Excessive wear and tear
- Improper installation
In case your claim is denied, call the sales representative or the third party expert that offered the warranty. Work with that professional along with the home warranty company until resolution.
A home warranty can be well worth the cost. Always contrast policies before you buy for coverage and cost.
8. Many items are not covered
The following items are not covered by the statutory warranty:
- Faucet repairs are not covered under all plans
- Outdoor items such as sprinklers, lighting grills
- Spa or pools, unless specific coverage requested
- Haul aways
- Not all plans pay for refrigerators, washers & dryers or garage door openers
- Permit fees
- Lawn and Garden equipment and sheds
Besides, the following conditions are also considered excluded from the warranty coverage.
- Homeowner Action/Involvement
- Normal Wear and Tear
- Third Party Damage
- Secondary/Consequential Damage
9. Things generally covered by a home warranty
General policies may take in the following items:
- Heating and air/furnace
- Dishwashers
- Water heater
- Garbage disposal
- Range and oven
- Doorbells
- Ceiling Fans
- Ductwork
- Plumbing backups
- Electric
- Stoves
- Telephone wiring
- Garage door openers
- Air conditioning
- Garbage disposal
- Electrical systems
Because coverage varies from state to state and from policy to policy, inquire to see a sample copy of a policy before you commit.
10. You must avoid fraudulent companies
Some frequent complaints that home warranty clients have:
- Fraudulent home warranty companies take money from consumers and then say no to honor the agreements and vanish completely only to reopen under another name
- Warranty companies reject the claim because of a "pre-existing problem"
- Warranty companies reject the claim citing homeowner's maintenance negligence
- Warranty companies always repair the appliance even when it is in such bad shape as to be replaced
- Home warranty companies refuse systematic denial and claim that customers need to pay close attention to the contract
Buyers are encouraged to verify the provider ratings of the companies selling the product.
Guest Post by HomeWarrantyReviews.com
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definitely home warranty is differ from hazard’s insurance.very useful and informative post this is about which home appliances are come in the coverage and which are not.