Are Home Warranties Worth It for Lexington-Fayette Residents?
Home warranties are worth it for Lexington-Fayette residents. Summers in Lexington-Fayette can have some very hot days, which means it's important that your air conditioner works well. However, over time this system can malfunction from heavy use.
Lexington-Fayette winters can be mild, but there are still days when you rely on your heating. HVAC system replacement can cost from $2,500 to $8,000. Home warranties are comparatively cheaper, costing roughly $644–$737 per year, based on 120 quotes we received from home warranty companies nationwide.
The regular rain in Lexington-Fayette can damage your roof. Some home warranty providers offer 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 selecting your home warranty plan.
Cost
We received 120 quotes for a 2,000-square-foot, single-family home and found that home warranties cost approximately $53–$62 per month. You'll also pay service call fees whenever you file a claim. These fees range from $65–$125 per claim. Basic home warranty plans are typically more affordable than comprehensive ones. A home systems coverage plan will usually cost more than an appliance plan. Many plans have add-on coverage options, but this will increase your monthly cost, so make sure you know your specific needs before choosing a plan.
Coverage
You can look for a home warranty plan that covers specific systems and appliances. Decide whether you want coverage for major systems (such as air conditioning), specific appliances, or for both. Then ask your provider about its options for customized coverage. 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 improper installation or preexisting conditions. In addition, home warranties don't cover appliance components or cosmetic issues, routine maintenance, theft, or defects. Providers outline limitations and exclusions within their service contracts. We recommend reading carefully to fully understand the terms and conditions of your plan.
Provider Reputation
Also, consider provider reputation. You can also browse customer reviews on sites like Best Company, Google Reviews, and Trustpilot. Ratings and reviews can show how a company handles claims and customer service. Check with the Kentucky Office of Consumer Protection to verify that a provider holds a valid state license.
Contractor Network
Take into account a home warranty company's service provider network. Ask how and where it sources technicians—reputable companies should always use licensed and registered contractors. If you can, use a provider that mentions contractors you're familiar with. Those residing in rural areas should consider a home warranty policy that lets them choose their 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 Lexington-Fayette
Do I need a home warranty in Lexington-Fayette?
What are preexisting conditions?
What is the best home warranty provider in Lexington-Fayette?
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 is a home warranty different from homeowners insurance?
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