Are Home Warranties Worth It for Loveland Residents?
Home warranties are worth it for Loveland residents. Summers in Loveland are fairly mild, but it's still important that your air conditioner is working well. However, over time this system can malfunction due to breakdowns from regular wear and tear.
Loveland also has freezing winters, meaning your heating system is working constantly during the colder months. The cost of replacing your HVAC system can range anywhere from $2,500–$8,000. Home warranties are comparatively cheaper at only $644–$737 annually, based on 120 quotes we requested from home warranty companies across the nation.
Even in Loveland, over time rain can damage your home's roof. Some home warranty companies offer limited roof-leak coverage, which can ease the financial burden of roof repair. Lastly, home warranties connect you with trustworthy service providers.
Reputable home warranty companies vet all their service providers. If you don't have time to do the research yourself, investing in a home warranty ensures a trustworthy technician will fix your issue.
What To Consider Before Choosing a Home Warranty Company
Think about these key factors to determine the right home warranty plan for your needs.
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 between $65–$125 every 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
You can often find home warranty plans that cover specific systems and appliances. Decide whether you want coverage for major systems (like heating), specific appliances, or both. Then ask your provider about its options for customized coverage. 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
Most home warranties cover only normal wear and tear, which excludes improper installation and preexisting conditions. Additionally, most policies will exclude cosmetic issues or appliance components, routine maintenance, defects, or theft. You can find your provider's exclusions and limitations in 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 read customer reviews on sites like Trustpilot, Best Company, and Google Reviews 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 a provider's state license.
Contractor Network
Take into account a home warranty company's network of service providers. Make sure to ask how and where it sources technicians—reputable providers should always use licensed and registered contractors. Choose a provider that mentions the names of familiar contractors. Homeowners in rural areas may opt for a home warranty that allows them to choose their technician. It's important to have the option to source your own provider if no in-network ones are available in your area.
Frequently Asked Questions About Home Warranty in Loveland
Is a home warranty required in Loveland?
What are preexisting conditions?
What is the best home warranty provider in Loveland?
Do home warranties cover other types of home items?
Why do home warranties have a waiting period before coverage begins?
How can I maximize the value of my home warranty?
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