Are Home Warranties Worth It for Ontario Residents?
Yes, home warranties are worth it for Ontario residents. Summers in Ontario are very hot, which makes it very important for your air conditioner to work properly. However, over time this system can malfunction from heavy use.
Ontario 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, on the other hand, run about $644–$737 annually, based on 120 quotes we requested from home warranty companies nationwide.
Even in Ontario, over time rain can damage your roof. Some home warranty companies offer limited roof-leak coverage, which can mitigate the cost of roof repair. Finally, your home warranty will connect 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 ensure that someone reliable will handle your problem.
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 pulled 120 quotes for a 2,000-square-foot, single-family home and found that the average home warranty costs between $53–$62 per month. You also have to pay service call fees whenever you file a claim. These fees range from $65–$125 per claim. Basic home warranty plans are generally more affordable than comprehensive ones. Appliance plans are more affordable than home systems coverage plans. Many plans have add-on coverage options, but this will increase your monthly cost, so make sure you know your specific needs before choosing a plan.
Coverage
Determine which systems and appliances you use most frequently. Most home warranty providers offer custom coverage tailored to your needs. If you only need coverage for select systems, like your air conditioner, most providers offer systems-only plans. The same is true if you only need coverage for select appliances. Here 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
Home warranties typically only cover normal wear and tear. This doesn't include improper installation or preexisting conditions. Most policies will also not cover appliance components or cosmetic issues, theft, defects, or routine maintenance. Each provider outlines exclusions and limitations within its service contract. Make sure you read it and understand your plan's specific terms and conditions.
Provider Reputation
Also, consider a provider's reputation when choosing a plan. You can read customer reviews on sites such as Trustpilot, Google Reviews, and Best Company or look at a company's rating with the Better Business Bureau (BBB). Reviews and ratings are a great way to assess how providers handle claims and customer service. Check with the California Department of Consumer Affairs to verify the status of a provider's state license.
Contractor Network
Consider a home warranty company's service provider network. Make sure you ask your provider how and where it sources technicians. All reputable companies should use licensed and registered contractors to fulfill service requests. Choose a provider that mentions service contractors you're familiar with. Homeowners in rural areas should consider choosing a home warranty that lets them choose their technicians. It's good to have the option to source your own providers if there are no in-network ones available in your area.
Frequently Asked Questions About Home Warranty in Ontario
Is a home warranty required in Ontario?
What are preexisting conditions?
What is Ontario's best home warranty provider?
Can I get a home warranty that covers other types of home items?
Why is there a waiting period before my home warranty coverage begins?
How long does a home warranty typically last?
How do I file a claim with my home warranty provider?
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.