Are Home Warranties Worth It for Lakewood Residents?
Home warranties are worth it for Lakewood residents. Lakewood can have fairly hot days during the summer, and you probably use your air conditioner frequently during the warmer months. Your air conditioning system may malfunction over time due to breakdowns from regular wear and tear.
Lakewood winters can be freezing, which means you rely heavily on your heating system. HVAC system replacement can cost anywhere from $2,500–$8,000, compared to a home warranty coming in at around $644–$737 annually based on 120 quotes we requested from home warranty companies across the nation. Even Lakewood's irregular rain can affect your home's roof.
Some home warranty providers offer limited roof-leak coverage to financially assist with repair. Lastly, a home warranty connects you with trustworthy service providers. Investing in a reputable home warranty company is worth it because companies vet their technicians.
If you're focused on work or other priorities, your home warranty company can ensure that someone reliable will handle your problem.
What To Consider Before Choosing a Home Warranty Company
Consider these important factors when choosing the best home warranty plan for you.
Cost
We requested 120 quotes for a 2,000-square-foot, single-family home and determined that home warranties cost an average of $53–$62 per month. You'll also pay a service call fee of roughly $65–$125 each time you file a claim. Comprehensive home warranties cost more than basic ones, and home systems coverage plans cost more than appliance plans. Most providers offer add-on coverage options for an additional cost. Consider your specific needs before selecting a plan.
Coverage
Most home warranty companies can tailor a plan to your needs. Think about which systems and appliances you use often and want covered. If you only want coverage for select appliances or systems (such as your heating), you can often find plans to fit. 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
Most home warranties only cover breakdowns from normal wear and tear. They don't cover preexisting conditions or improper installation. In addition, home warranties don't cover appliance components or cosmetic issues, routine maintenance, defects, or theft. You can find your provider's exclusions and limitations within your service contract. Be sure to read the contract carefully to understand your plan's terms and conditions.
Provider Reputation
Provider reputation is another important factor to consider. You can find customer reviews on sites like Best Company, Google Reviews, and Trustpilot or check a company's Better Business Bureau (BBB) rating. Reviews and ratings can provide insight into 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
Take into account a home warranty company's service provider network. Your provider should always send licensed and registered contractors to handle service requests. Make sure you ask where and how a company sources its technicians. We recommend picking a provider that mentions service contractors you're familiar with. Homeowners in rural areas might prefer home warranty policies that allow you to choose your technician. There may not be any in-network service providers in these areas, so you'll want the option to choose your own.
Frequently Asked Questions About Home Warranty in Lakewood
Do I need a home warranty in Lakewood?
What are preexisting conditions?
What is Lakewood's best home warranty provider?
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?
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