Are Home Warranties Worth It for Melbourne Residents?
Home warranties are worth it for Melbourne residents. Summers in Melbourne are very hot, which makes it very important to have a reliable air conditioner. However, over time this system can malfunction from heavy use.
Melbourne has fairly mild winters, but it's still important to make sure your heating works when needed. The cost of an HVAC system replacement can range anywhere from $2,500–$8,000. Home warranties are comparatively cheaper at only $644–$737 per year, based on 120 quotes we requested from home warranty companies nationwide.
The frequent rain in Melbourne can damage your roof. The financial burden of this will be lessened if you have a home warranty with roof-leak coverage. Finally, your home warranty will connect 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 provider can ensure that someone reliable will handle your problem.
What To Consider Before Choosing a Home Warranty Company
These key factors can help you determine the best home warranty plan for your needs.
Cost
After getting 120 quotes for a 2,000-square-foot, single-family home, we determined that home warranties cost an average of $53–$62 per month. You'll also pay a service call fee every time you file a claim. Service call fees typically range from $65–$125 per claim. Basic home warranty plans tend to be more affordable than comprehensive ones. Appliance plans are typically less costly than home systems coverage plans. With most plans, you can get add-on coverage options for an additional monthly fee. Consider your particular needs before choosing a plan.
Coverage
Many home warranty providers offer plans for select appliances or systems. Determine which systems and appliances you use most often before committing to a plan. If you only need coverage for certain major systems (such as air conditioning) or specific appliances, you can find a plan that meets your needs. 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
Usually, home warranties don't cover improper installation or preexisting conditions. Most policies only cover normal wear and tear. Most will also exclude appliance components or cosmetic issues, theft, defects, 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
Consider a provider's reputation before making a commitment. You can also read real customer reviews on sites such as Google Reviews, Best Company, and Trustpilot. These reviews can give you a sense of how providers handle customer service and claims. Check with the Florida Division of Consumer Services to verify that a provider holds a license with the state.
Contractor Network
Consider a home warranty company's service provider network. Quality home warranty companies source licensed and registered contractors to fulfill service requests. We suggest asking a provider where and how it sources technicians. Choose a provider that mentions service 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 Melbourne
Do I need a home warranty in Melbourne?
What are preexisting conditions?
What is the best home warranty provider in Melbourne?
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 is a home warranty different from homeowners insurance?
How can I maximize the value of my home warranty?
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