Home warranty coverage can prove especially beneficial if you pick the right provider and you choose the right plan. For new homeowners, home warranty coverage offers peace of mind with financial protection if home systems and appliances stop functioning. It’s better to have a quality home warranty plan and not need it than to need a quality home warranty plan and not have it. Consider the worst-case scenario: No home warranty protection and your $3,000 refrigerator, $1,500 range, or $800 microwave suddenly stops working.
In the absence of home warranty coverage, the costs of repair, replacement, or maintenance work must be borne by the homeowner. These are significant expense items, and they can certainly put a big dent in your savings. Studies indicate that the average American household does not have $500 – $1,000 available in the event of an emergency such as an AC unit that suddenly stops working in the middle of summer, a refrigerator that no longer refrigerates food, or a garage door motor that locks in place and will not budge. These are serious concerns, and they can amount to major expense items.
Are there bad home warranty companies out there?
Absolutely. Home warranty companies are a dime a dozen. The good ones have established reputations, positive customer reviews, and are accredited by leading oversight agencies like the Better Business Bureau (BBB). Fly-by-night home warranty companies are quick to snatch up your money, and they don’t deliver when you call them. Many of these sketchy operators actually instruct repair technicians to deny a huge number of claims that are put in for processing. That way, home warranty companies can benefit from the premiums that you pay, and not have to ever repair, replace, or service appliances.
The litmus test for selecting a quality home warranty company is multifaceted. These elements must be considered:
- Objective customer reviews of the home warranty company
- The range of plans, coverage options, and cost considerations
- Official licensing and accreditation of the home warranty company
Since there are so many home warranty companies out there, it’s difficult to know which ones are better than others. Fortunately, one of the industry-leading authorities on home warranty coverage, Review Home Warranties has conducted extensive analysis of the pros and cons of the top-ranked home warranty providers in the US. It is certainly worthwhile taking a look at the Pride Home Warranty review by RHW to understand exactly what elements need to be considered when choosing one home warranty plan over another.
Putting Pride Back into Home Warranty Protection
With Pride Home Warranty for example, a wide range of appliances and systems are covered. These include air conditioning units, heating systems, ductwork, vacuums, refrigerators, icemakers, standalone freezers, dishwashers, ovens, microwaves, washers, dryers, sump pumps, septic systems, toilets, plumbing stoppages, plumbing, pools and spa, water softeners, roof leaks, electrical, water heaters, well pumps, sprinklers, fans, and disposals. A reputable company like Pride Home Warranty requires a 30 day lead time to process home warranty memberships, and the premiums range between $299 and $449. Coverage limits range from $750-$2500, and there is a $45 deductible on repair work. The pros and cons of this company are worth looking at. Among the many benefits are the following:
- Available in 47 states in the US
- Emergency services are available
- Comprehensive coverage with plans
- Better Business Bureau A+ rating
- Reservices are available if repair work fails
There are several elements to consider such as the limited range of coverage options (only two plans available) and the company itself is not accredited by the BBB. Nonetheless, this company fares well with clients, and has garnered a terrific rating overall. While the company doesn’t have any BBB awards at this time, it is on track to becoming a leading player in the home warranty arena. The golden rule is to thoroughly research the range of options out there and pick wisely.
Check out my Home Renovation Ideas that can Save You Money article for more great ways to save money.