Are Home Warranties Worth It for Madison Residents?
Yes, home warranties are worth it for Madison residents. Madison experiences hot summers, and you probably use your air conditioner constantly during the warmer months. Your air conditioner may malfunction over time from heavy use.
Madison winters are fairly mild, but there will still be days when you rely on your heating. HVAC system replacement can cost from $2,500 to $8,000. Home warranties are comparatively cheaper, costing roughly $644–$737 per year, based on 120 quotes we requested from home warranty companies nationwide.
Madison's heavy rain can also affect your home's roof. Some home warranty companies offer limited roof-leak coverage to ease the financial burden of repair. Lastly, home warranties connect you with reliable service providers.
Reputable home warranty companies vet each service provider they work with. If you don't have time to do the research yourself, investing in a home warranty ensures you have access to trustworthy technicians.
What To Consider Before Choosing a Home Warranty Company
Think about these key factors when determining the right home warranty plan for you.
Cost
We requested 120 quotes for a 2,000-square-foot, single-family home and determined that the average home warranty cost is $53–$62 per month. You'll also pay a service call fee of approximately $65–$125 whenever you file a claim. Basic home warranty plans tend to be more affordable than comprehensive ones. A home systems coverage plan will usually cost more than an appliance plan. Most plans offer add-on coverage, but this will increase your monthly cost. Make sure you know what you need before selecting a plan.
Coverage
Determine which appliances and systems you use most frequently. Most home warranty plans offer custom coverage tailored to your needs. If you only need coverage for select systems, like your air conditioner, most companies offer systems-only plans. The same is true if you only need coverage for certain appliances. 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 only cover damage from normal wear and tear. They don't cover preexisting conditions or improper installation. Generally, cosmetic issues or appliance components, defects, routine maintenance, or theft are also not covered. You can find your provider's limitations and exclusions in your service contract. Be sure to read the contract carefully to understand your plan's terms and conditions.
Provider Reputation
Also, consider a provider's reputation when choosing a plan. You can find customer reviews on sites like Google Reviews, Best Company, and Trustpilot or look at a company's rating with the Better Business Bureau (BBB). Reviews and ratings are a great way to learn how providers handle claims and customer service. Check with the Alabama Attorney General to verify the status of a provider's state license.
Contractor Network
Consider a home warranty company's network of service providers. Your company should always use licensed and registered contractors to fulfill service requests. Make sure you ask how and where a company sources its technicians. Choose a provider that mentions service contractors you're familiar with. Homeowners in rural areas should consider a home warranty policy that lets them choose their technician. In-network service providers may not be available in your area, so you'll need the option to source your own.
Frequently Asked Questions About Home Warranty in Madison
Is a home warranty required in Madison?
What are preexisting conditions?
What is the best home warranty provider in Madison?
Can I get a home warranty that covers 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?
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