Different Types of Home Warranties

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There are several different types of home warranties available. Some cover plumbing, electrical systems, roof leaks, garage door openers, and more. Others are a bit more comprehensive and can cover pool and spa systems. These plans can be paid for upfront or over time, depending on the coverage you’d like.

Cost

Buying the best home warranties in Kentucky is a good way to ensure adequate protection for your home’s systems and appliances. Home insurance only covers minor problems, but home warranties cover major appliances and systems. In many cases, you can save thousands of dollars a year with a home warranty. However, it’s important to determine the cost of home warranties before signing up for one.

Service calls can be a major part of the cost of home warranties. Some companies charge a service call fee of $50 to $125 for a single call. These fees don’t include the actual cost of repairs or replacements.

Exclusions

Before signing up for a home warranty, read the exclusions. For example, some policies exclude certain causes of repairs or have a limit on how much the warranty will pay out. If you’re unsure what to look for in your policy, here are a few common exclusions.

Exclusions from home warranty coverage can include several things, including pre-existing conditions, items that are partially or wholly at fault, and neglected maintenance. In addition, some warranties only cover broken items. Others may restrict the type of contractor you can choose. Finally, some home warranties have exclusions for problems caused by normal wear and tear, natural disasters, or manufacturer defects.

A home warranty will not cover items that are no longer manufactured. The company may also set limitations on the covered appliances or systems. For example, some companies will only cover certain parts of a system or appliance, which could leave you without a replacement.

Cost For New Construction

Home warranties for new construction are available in a wide variety of forms and include a variety of features. Depending on the level of coverage you purchase, a new construction warranty can range in price from about $400 to more than $650 per year. The cost depends on your coverage and the deductible you’ll have to pay. Some providers offer higher deductibles in exchange for lower monthly payments, while others offer discounts for paying up front. In addition, some home warranty plans are better than others, covering more items in the first year and covering cosmetic problems.

Most new construction home warranties cover major systems and appliances. These systems can be quite expensive, so comprehensive coverage is a good idea. Some companies offer appliance-only plans, which cover only certain appliances. These plans generally don’t cover pre-existing conditions.

Cost For Existing Home

Whether or not to purchase a home warranty depends on your needs and budget. The average home warranty costs around $900 per year. The amount you spend on a home warranty will depend on the coverage you choose and your luck finding problems. If you are purchasing an existing home, getting additional protection may be worth the extra money.

Home warranty costs vary from company to company and from plan to plan. However, the average price of a one-year warranty can be between $300 and $700. Some companies offer a discount by offering monthly payments or allowing you to pay the cost over a year.

Cost For Add-ons

When looking for home warranties, it is important to know how much add-ons cost. The basic contracts of most home warranty companies cover many basic things, but there are additional add-ons that can be worth a lot of money. These add-ons include coverage for appliances, electronics, and systems that aren’t covered under the standard contract.