Are Home Warranties Worth It for Lafayette Residents?
Yes, home warranties are worth it for Lafayette residents. Summers in Lafayette can get hot, which makes it important to have a reliable air conditioner. However, this system can malfunction over time due to breakdowns from regular wear and tear.
Lafayette also has cold winters, meaning your heating system is working constantly during the colder months. The cost of an HVAC system replacement can range between $2,500 and $8,000. Home warranties, on the other hand, come in at only $644–$737 a year, based on 120 quotes we received from home warranty companies nationwide.
The regular rain in Lafayette can damage your roof. Some home warranty providers offer limited roof-leak coverage, which can ease the financial burden of roof repair. Finally, 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 provider can give you peace of mind that someone reliable will handle your issue.
What To Consider Before Choosing a Home Warranty Company
Think about these key factors when choosing the best home warranty plan for you.
Cost
We received 120 quotes for a 2,000-square-foot, single-family home and found that home warranties cost an average of $53–$62 per month. You also have to pay service call fees each time 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. You can often get add-on coverage for an additional monthly cost. Be sure you know your specific needs before selecting a plan.
Coverage
Most home warranty companies can tailor a plan to your needs. Make a list of the systems and appliances that you use often and want covered. If you only need coverage for select systems or appliances (such as your heating), you can often find plans to fit. 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 preexisting conditions or improper installation. Most policies will also not cover appliance components or cosmetic issues, defects, theft, or routine maintenance. 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 provider reputation when making a decision. 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). Ratings and reviews are a great way to assess how providers handle customer service and claims. Check with the Indiana Consumer Protection Division to verify that a provider holds a license with the state.
Contractor Network
Take into account a home warranty company's network of service providers. Ask how and where it sources technicians—reputable providers should always use licensed and registered contractors. If you can, use a provider that mentions the names of familiar contractors. 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'll need the option to source your own.
Frequently Asked Questions About Home Warranty in Lafayette
Is a home warranty required in Lafayette?
What are preexisting conditions?
What is Lafayette's best home warranty provider?
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 do I file a claim with my home warranty provider?
How can I maximize the value of my home warranty?
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