Are Home Warranties Worth It for Medford Residents?
Home warranties are worth it for Medford residents. Medford can have fairly hot days during the summer, and you probably use your air conditioner frequently during warmer months. Your air conditioning system can malfunction over time due to breakdowns from regular wear and tear.
Winters in Medford are very cold, meaning you rely on your heating system often. Replacing your HVAC system can cost anywhere from $2,500–$8,000, compared to a home warranty coming in at around $644–$737 annually based on 120 quotes we received from home warranty companies across the nation. The frequent rain in Medford can damage your roof.
The financial burden of this will be lessened if your home warranty has roof-leak coverage. Lastly, home warranties connect you with reliable technicians. When work and other priorities keep you busy, you want to know a trustworthy service provider 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 the following factors when selecting the right home warranty plan for your needs.
Cost
We pulled 120 quotes for a 2,000-square-foot, single-family home and found that home warranties cost approximately $53–$62 per month. There are also service call fees each time 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. Most plans offer add-on coverage, but this will increase your monthly cost. Make sure you know what you need before selecting a plan.
Coverage
Most home warranties can be somewhat customized to your needs. Think about which systems and appliances you use often and would like 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
Most home warranties cover only normal wear and tear, which excludes improper installation and preexisting conditions. Additionally, most policies will exclude appliance components or cosmetic issues, theft, defects, or routine maintenance. Providers outline limitations and exclusions with their service contracts. Make sure you read it and understand your plan's exact terms and conditions.
Provider Reputation
Provider reputation is another important factor to consider. You can read customer reviews on sites such as Google Reviews, Trustpilot, and Best Company or check a company's Better Business Bureau (BBB) rating. Ratings and reviews can give you insight into how a company handles claims and customer service. Check with the Massachusetts Office of Consumer Affairs and Business Regulation to verify the status of a provider's state license.
Contractor Network
Consider a home warranty company's network of service providers. Reputable 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 policy that allows the customer to choose their technician. Rural areas may not have any in-network service providers available, and customers may need to source their own.
Frequently Asked Questions About Home Warranty in Medford
Is a home warranty required in Medford?
What are preexisting conditions?
What is the best home warranty provider in Medford?
Do home warranties cover 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?
How do I file a claim with my home warranty provider?
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