Comprehensive Guide to Top Home Warranty Providers in 2018: Protect Your Home Efficiently
This comprehensive guide explores top home warranty providers in 2018, detailing coverage options, plan types, exclusions, and how homeowners can select the best plan to protect their appliances and systems. Learn about key features, costs, and tips for avoiding common pitfalls to ensure peace of mind against unexpected home repair expenses, making it an essential resource for homeowners seeking reliable property protection.
Comprehensive Guide to Top Home Warranty Providers in 2018: Protect Your Home Efficiently
Many homeowners often confuse their home insurance policies with home warranties, but these two serve different purposes. While home insurance primarily safeguards against disasters like fires, storms, or theft, home warranties focus on covering repair and replacement costs for essential appliances and home systems that can unexpectedly break down. Understanding the nuances between these two types of coverage is crucial for homeowners aiming to protect their investments effectively. This comprehensive guide explores what home warranties cover, what exclusions to watch for, pricing details, and the benefits and drawbacks to help you choose the ideal plan for your home.
The Scope of Home Warranty Coverage
Home warranty coverage varies significantly depending on the plan you select and the age and condition of your property. Different providers have different standards, but generally, warranties are designed to cover major appliances and vital home systems. For new construction homes, builder warranties often include comprehensive coverage against structural problems for up to ten years. However, warranties for existing homes are more targeted and typically fall into specific categories, each suited to different needs and budgets.
A builder’s home warranty usually provides coverage for significant structural issues for up to a decade, offering peace of mind for new homeowners. On the other hand, warranties for existing homes generally focus on internal appliances and systems, with coverage periods ranging from six months to several years. These warranties are categorized into three main types: System-focused Plans, Hybrid Plans, and Appliance-centered Plans, each offering varying levels of protection based on homeowner preferences and budget.
Detailed Breakdown of Home Warranty Plans
Understanding the different plans available can help homeowners select the right coverage that aligns with their needs. Here’s a detailed overview of each plan type:
1. System-focused Plans
These plans primarily cover crucial home systems such as heating, cooling, plumbing, electrical wiring, and water heating systems. They are ideal for homeowners who want to safeguard the core systems that ensure comfort and safety within their homes. Since these systems are vital for daily living, opting for a system-focused plan can prevent costly repairs stemming from system failures.
2. Hybrid Plans
Hybrid plans offer a combination approach, covering both major systems and key appliances, providing a more comprehensive protection package. Although these plans tend to be more expensive, they deliver broader coverage, reducing the likelihood of multiple repair costs. Hybrid plans are suitable for homeowners seeking all-in-one coverage to minimize unexpected expenses.
3. Appliance-centered Plans
This type of plan chiefly covers individual major appliances such as ranges, dishwashers, washers and dryers, ovens, and built-in microwaves. Though refrigerators might be included, coverage varies by provider; some plans exclude refrigeration to keep premiums lower. These plans are especially popular among homeowners who want focused protection for appliances prone to frequent repairs.
Additional Coverages and Customizable Options
To tailor coverage more precisely, many home warranty providers offer additional add-on options for items outside standard plans. These include spas, swimming pools, septic systems, wells, hot tubs, and other specialty items. Customizable coverage allows homeowners to select protection for specific assets that are integral to their lifestyle and property. However, it’s important to note that some damages or issues might not be covered, even with added options, leading to potential customer complaints. To prevent surprises, it’s essential to read the fine print carefully, focusing on critical details such as:
Pre-existing conditions
Most warranties do not cover problems that existed prior to purchasing the plan. For instance, if a system or appliance was already malfunctioning before the warranty coverage began, repairs for that issue will not be covered.
Coverage limits and exclusions
Review all exclusions thoroughly. For example, while garbage disposers are usually covered, repairs for issues like food jams may not be included. Similarly, certain appliances like refrigerators might be limited to kitchen placement, and electronic features, such as ice makers or water dispensers, may be excluded from coverage.
Waiting periods
Most warranties enforce a waiting period of 15-30 days after purchase before coverage begins. If you have prior home insurance or purchase a home with existing coverage, this waiting period could be shortened or waived entirely.
Service provider restrictions
If you prefer to select your own repair technicians rather than using the warranty provider’s approved professionals, you generally may forfeit reimbursement or coverage for those repairs.
Coverage for Unexpected Failures
Home warranties are designed to cover sudden, unexpected failures of appliances and systems. Routine maintenance, wear and tear, or problems caused by neglect typically are not covered. Regular upkeep remains the homeowner’s responsibility to ensure longevity of their home assets.
Since their inception in 1971 by industry pioneer American Home Shield, home warranties have grown in popularity, offering homeowners a vital safeguard against unexpected repair costs. For 2018, some of the leading providers include:
Complete Protect, known for Transparent service and clear policies
Complete Protection, recognized for affordability and minimal exclusions
American Home Shield, offering extensive customization options and extensive coverage choices
Choosing the right provider requires careful reading of policies, understanding the scope of coverage, and weighing the costs versus benefits. While restrictions and exclusions are inevitable, a home warranty can significantly reduce the financial burden caused by unforeseen appliance or system failures. It provides peace of mind, making it a valuable investment for many homeowners seeking financial security and problem-free living.
The Top Home Warranty Providers in 2018
Most Transparent Service: Total Protect
Total Protect stands out for its straightforward approach to getting quotes and selecting plans. It offers three customizable options tailored to different homeowner needs, ensuring transparency and ease of understanding.
Most Cost-effective with Limited Exclusions: Total Appliance Protection
This provider is recognized for no service or maintenance fees, which means homeowners pay only the plan cost itself. No hidden fees or surprise charges, making it highly economical.
Best for Customization: American Home Shield
As the largest home warranty company in the United States, AHS provides a broad array of plans and allows homeowners to customize their coverage based on specific needs, making it highly flexible and user-friendly.
