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 works well. However, over time this system can malfunction from heavy use.
Richmond winters can be fairly mild, but there are still times when you want to have a reliable heating system. HVAC system replacement can cost between $2,500 and $8,000, compared to a home warranty costing roughly $644–$737 annually based on 120 quotes we received from home warranty companies nationwide. Richmond's heavy rain can also affect your roof.
Some home warranty providers offer limited roof-leak coverage to financially assist with 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
Think about these important factors when choosing the best home warranty plan for you.
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. Additionally, you'll pay a service call fee of approximately $65–$125 every time you file a claim. Basic home warranties cost less than comprehensive ones, and appliance plans cost less than home systems coverage plans. You can get add-on coverage options, but this will increase your monthly cost—consider your specific needs before choosing a plan.
Coverage
Many home warranty providers offer plans for select appliances or systems. Figure out which systems and appliances you use most often before selecting a plan. If you only want coverage for certain major systems (such as air conditioning) or certain appliances, you can find a plan that meets your needs. 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
Usually, home warranties don't cover preexisting conditions or improper installation. Most policies only cover damage from normal wear and tear. Most also exclude appliance components or cosmetic issues, defects, theft, or routine maintenance. Providers will outline exclusions and limitations in their service contracts. Read your contract thoroughly to ensure you understand the terms and conditions of your plan.
Provider Reputation
Consider a provider's reputation before making a commitment. You can also read real customer reviews on sites such as Trustpilot, Best Company, and Google Reviews. Looking at reviews can give you a sense of how providers handle customer service and claims. Check with the Kentucky Office of Consumer Protection to verify that a provider holds a license with the state.
Contractor Network
Take into account a home warranty company's service provider network. Make sure to ask how and where it sources technicians—reputable providers should always use licensed and registered contractors. Select a provider that mentions the names of familiar contractors. Those who live 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 it's important to have the option to source your own.
Frequently Asked Questions About Home Warranty in Richmond
Is a home warranty required in Richmond?
What are preexisting conditions?
What is the best home warranty provider in Richmond?
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 long does a home warranty typically last?
How can I maximize the value of my home warranty?
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