Know Your Coverage Limits and Costs<\/strong><\/h3>\n

Home warranties do resemble homeowner\u2019s insurance in a couple of ways. They come with coverage limits. Some limits are annual and some are assessed on a per-item basis. Unfortunately, you may find that coverage limits aren\u2019t equal to the cost of repairing or replacing a covered item. Heating and air conditioning systems, for example, often cost more than the coverage limits of a home warranty. Replacing your furnace, for example, can cost upwards of $10,000. But a home warranty might cap furnace repairs or replacement at $3000 or so.<\/p>\n

All warranties come with service call fees, which are akin to deductibles. Each time you file a claim and a service person visits your home to diagnose or repair a covered item, you\u2019ll pay a fee directly to the service company that does the work.\u00a0 Service call fees usually run between $75 and $125. Those fees can add up. That\u2019s why you should check how a policy deals with guaranteeing the work that\u2019s done in your home. Some only guarantee repairs for 30 days and will charge you multiple service fees if a problem recurs.<\/p>\n

When To Buy a Home Warranty<\/strong><\/h3>\n

The time to buy a home warranty is before you need to use it. Don\u2019t wait until something breaks before buying one. Home warranties exclude pre-existing conditions and most impose a waiting period of up to 30 days before they will cover claims.<\/p>\n

If you have a home built for you, a home warranty may be redundant with your construction for the first year or more. So it\u2019s a good idea to wait before buying a home warranty until your construction warranty expires. There\u2019s no need to double up on coverage or take on a needless expense.<\/p>\n

If your home would be considered an antique\u2014from mid-century modern to Victorian\u2014that\u2019s a different story\u2014it probably makes sense to purchase a home warranty sooner rather than later.<\/p>\n

Choosing a Home Warranty<\/strong><\/h3>\n

Home warranties can be a blessing or they can be a source of unending frustration. But that frustration can often be traced back to misunderstanding the terms of a warranty. Make sure you know what\u2019s covered and what\u2019s not when you buy one. Take note of the coverage limits and service fees that come with your home warranty. And be sure to do your research before choosing a home warranty company.<\/p>\n

Check out its ratings on consumer review sites. Read the comments carefully and beware of companies that inspire a lot of complaints\u2014particularly for poor communication, long repair waiting times, billing issues and cancellation policies. Consider that research due diligence\u2014your responsibility\u2014and you\u2019ll be better equipped to choose a warranty that meets your expectations and help you keep your home in top condition without stressing you or your budget out.<\/p>\n

Author Bio:<\/h4>\n

Susan Doktor is a journalist, business strategist, and historic homeowner. She covers a wide range of consumer product and personal finance topics. Her contribution comes to us courtesy of Money.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Home warranty companies frequently get a bad rap. Websites like the Better Business Bureau and Trustpilot are filled with consumer complaints and even accusations of fraud. And it\u2019s true, there are a lot of bad actors out there in the industry. But the best home warranties can be part of smart homeownership, home buying, and …<\/p>\n","protected":false},"author":1,"featured_media":5204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[87],"tags":[],"class_list":["post-5203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home-improvement"],"yoast_head":"\n