Home warranty – Process, costs, and top providers

Home warranty – Process, costs, and top providers

Home warranty plans are special service contracts that cover the cost of repairing or replacing major home appliances. These plans can be purchased directly from a home warranty company to provide an extra layer of financial protection and the convenience of connecting with affiliated contractors to fix problems promptly. Unlike a homeowner’s insurance and the manufacturer’s warranties, home warranty plans cover system and appliance malfunctions that do not fall under any of the other categories.

What does a home warranty plan cover?
Coverage for home warranty plans differs greatly from one plan to the next. Generally, they include wear and tear of HVAC systems, plumbing systems, electrical systems, refrigerators, dishwashers, washers, dryers, ovens, stoves, garbage disposal, water heaters, etc. However, home warranty plans may not cover things that are already covered by manufacturer’s warranties.

What is the process of filing a home warranty claim?
Here’s the process of filing a home warranty claim in case of an appliance malfunction or breakdown:

1. Check the coverage
Since every home warranty plan is different, one needs to be aware of exactly what is covered. In every service contract, this information is listed under the coverage overview, which describes what the warranty will address, how, and what is excluded from coverage.

Popular Articles

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9 things a home warranty does not cover

A home warranty is a service contract that offers financial cover for the wear and tear of a home’s appliances and systems. So, if something breaks down, the homeowner does not have to bear the cost of repairs. Rather, the warranty company will cover the expenses. But it is important to note that a home warranty does not cover all repairs. When signing the contract, one must take note of the exclusions. Cosmetic repairs Cosmetic repairs are made solely for aesthetics or to improve the home’s appearance. A home warranty does not cover such repairs. It only covers the cost of damages caused by normal wear and tear. For instance, if an oven breaks down or stops working during regular use, homeowners can expect the home warranty to cover the expenses. The contract will not cover the price of fixing scratches or dents on the oven because it counts as cosmetic repairs. Outdoor elements Another big thing a home warranty excludes is the cost of repairing fixtures outside the house. Examples are pools, spas, and septic systems. The contract may also leave out outdoor plumbing systems and their parts, like sprinklers, faucets, and valves. While most home warranty companies do not cover these things in their standard package, some offer add-ons that include outdoor elements.
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19 common mistakes to dodge when buying a car

Buying a car is a major decision that can either be exhilarating or exasperating, depending on how well you navigate the process. Unfortunately, there are several common car-buying mistakes that can turn your joy ride into a bumpy one. In order to avoid being stuck with a car that you don’t want in the long run, it is important to learn how to avoid certain pitfalls throughout the vehicle-buying process. Skipping Research By starting the car-buying journey without extensive research, one risks making poor choices, overspending, and experiencing buyer’s remorse. Conduct thorough research by defining needs, budgets, and preferences. Also, explore different makes and models, read reviews, and compare prices. Overlooking a Budget Neglecting to set a budget before one begins shopping can lead to financial potholes, causing overspending, debt, and buyer’s regret. Determine the budget based on the financial situation, considering the purchase price, ongoing expenses (insurance, maintenance, fuel), and financing options. Creating a financial roadmap will help one stay on course. Neglecting Pre-approval Arriving at dealerships without securing pre-approved financing is like setting sail without a compass. It can lead to higher interest rates and limited negotiation power. Research financing options from banks, credit unions, or online lenders.
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14 signs that indicate the car needs upgrading

Saying goodbye to an old car can be emotional, but it’s essential to know when it’s time to upgrade. Recognizing signs that it’s time to move on can save you from constant breakdowns, expensive repairs, and the inconvenience of being stranded on the road. To make the right decision, it’s crucial to identify the signs that indicate it’s time to invest in a new vehicle. Read on to learn more. Constant breakdowns and costly repairs If your car spends more time at the repair shop than on the road, it’s a clear indication that it is time for an upgrade. Frequent breakdowns and expensive repairs can drain your wallet and lead to endless frustration. While all cars require maintenance and occasional repairs, frequent issues suggest that your vehicle’s reliability is declining. Investing in a new car that comes with a warranty and the latest technology can help you avoid future headaches and unexpected repair bills. Declining fuel efficiency As vehicles age, their fuel efficiency tends to decrease. While a slight decrease is normal, a significant drop in miles per gallon can lead to higher fuel costs. Modern cars boast better fuel efficiency due to advancements in automotive technology, saving you money at the pump and reducing your carbon footprint.
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