Are Home Warranties Worth It for Richmond Residents?
Home warranties are worth it for Richmond residents. Richmond summers can have some very hot days, which means it's important that your air conditioner is working well. However, over time this system can malfunction due to breakdowns from regular wear and tear.
Richmond has relatively mild winters, but there are still days you'll need your heating. The cost of an HVAC system replacement can range anywhere from $2,500–$8,000. Home warranties, on the other hand, come in at only $644–$737 annually, based on 120 quotes we requested from home warranty companies across the nation.
The regular rain in Richmond can cause damage to your home's roof. Some home warranty policies include limited roof-leak coverage, which can ease the financial burden of roof repair. Finally, home warranties connect you with trustworthy service providers.
When life is keeping you busy, you want to know that a reliable technician is handling your repairs. Reputable home warranty companies vet every service provider they work with.
What To Consider Before Choosing a Home Warranty Company
Consider these important factors when choosing your home warranty plan.
Cost
After getting 120 quotes for a 2,000-square-foot, single-family home, we determined that home warranties cost roughly $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. A basic home warranty is more affordable than a comprehensive one. 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
Figure out which appliances and systems you use the most. You'll want a home warranty plan that covers these items. Most plans can be tailored to your needs, and many companies offer systems-only plans for those who only want select coverage (such as for air conditioning). You can also get a plan that only covers select appliances. 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 cover only normal wear and tear, which excludes preexisting conditions and improper installation. Additionally, most policies will exclude cosmetic issues or appliance components, defects, theft, or routine maintenance. Providers outline their limitations and exclusions in their service contracts. Thoroughly read your contract to make sure 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. Reading reviews can give you a sense of how companies 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. The provider you choose should use licensed and registered contractors to fulfill service requests; make sure to ask your company where and how it sources technicians. If you can, use a provider that mentions service contractors you're familiar with. Residents of rural areas may prefer a home warranty that lets them choose their technician. You may need to source your own provider if no in-network ones are available in your area.
Frequently Asked Questions About Home Warranty in Richmond
Do I need a home warranty in Richmond?
What are preexisting conditions?
What is the best home warranty provider in Richmond?
Do home warranties cover other types of home items?
Why do home warranties have a waiting period before coverage begins?
How long does a home warranty typically last?
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