Are Home Warranties Worth It for Colorado Springs Residents?
Yes, home warranties are advantageous for Colorado Springs residents. Colorado Springs can have fairly hot days during the summer, and you probably use your air conditioner frequently during warmer months. Your air conditioner can malfunction over time due to breakdowns from regular wear and tear.
Colorado Springs also has cold winters, meaning your heating system is working constantly during the colder months. The cost of an HVAC system replacement can range between $2,500 and $8,000. A home warranty plan is comparatively cheaper, only $644–$737 per year, based on 120 quotes we requested from home warranty companies nationwide.
Even in Colorado Springs, over time rain can damage your roof. Some home warranty policies include limited roof-leak coverage, which can mitigate the cost of roof repair. Lastly, a home warranty connects you with trustworthy service providers.
A reputable home warranty is a good investment because companies vet their technicians. If you don't have time to do the research yourself, your home warranty company can give you peace of mind that someone reliable will handle your problem.
What To Consider Before Choosing a Home Warranty Company
Think about these key factors when picking the right home warranty plan for you.
Cost
After getting 120 quotes for a 2,000-square-foot, single-family home, we determined that home warranties cost approximately $53–$62 per month. Additionally, you'll pay a service call fee each time you file a claim. Service call fees typically range from $65–$125 per claim. Comprehensive home warranties cost more than basic ones, and home systems coverage plans cost more than appliance plans. You can select add-on coverage options, but these will increase your monthly cost. Consider your specific needs before choosing a plan.
Coverage
Many home warranty companies offer systems-only plans or plans for select appliances. Determine which systems and appliances you use most often before committing to a plan. If you only want coverage for certain major systems (like heating) or specific appliances, you can find a plan that meets your needs. The following is a list of common systems coverage:
- Air conditioner
- Central vacuum
- Ductwork
- Electrical
- Heating
- Plumbing
- Water heater
- Built-in microwaves
- Clothes washers and dryers
- Dishwashers
- Garbage disposals
- Ovens
- Refrigerators
- Stovetops
Exclusions
Usually, home warranties don't cover improper installation or preexisting conditions. Most policies will only cover damage from normal wear and tear. Most also exclude cosmetic issues or appliance components, defects, theft, or routine maintenance. You can read about your provider's limitations and exclusions in your service contract. Read carefully to ensure you understand your plan's terms and conditions.
Provider Reputation
You should also consider provider reputation. You can also browse customer reviews on sites like Best Company, Trustpilot, and Google Reviews. Ratings and reviews can show you how a company handles customer service and claims. Check with the Colorado Consumer Protection Section to verify that a provider holds a license with the state.
Contractor Network
Consider a home warranty company's service provider network. Ask where and how it sources technicians—reputable providers should always use licensed and registered contractors. Select a provider that mentions contractors you're familiar with. Homeowners in rural areas should consider a home warranty that allows you to choose your technician. You may not have any in-network service providers in your area, so you want the option to source your own.
Frequently Asked Questions About Home Warranty in Colorado Springs
Is a home warranty required in Colorado Springs?
What are preexisting conditions?
What is the best home warranty provider in Colorado Springs?
Do home warranties cover other types of home items?
Why do home warranties have a waiting period before coverage begins?
How is a home warranty different from homeowners insurance?
How long does a home warranty typically last?
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