Are Home Warranties Worth It for Lakeville Residents?
Home warranties are worth it for Lakeville residents. Summers in Lakeville are fairly mild, but it's still important to have a reliable air conditioner. However, this system can malfunction over time due to breakdowns from regular wear and tear.
Winters in Lakeville are freezing, which makes having reliable heating extremely important. HVAC system replacement can cost from $2,500 to $8,000. Home warranties are comparatively cheaper, costing roughly $644–$737 annually, based on 120 quotes we requested from home warranty companies across the nation.
The regular rain in Lakeville can damage your home's roof. Some home warranty companies offer limited roof-leak coverage, which can mitigate the cost of roof repair. Lastly, 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 all their service providers.
What To Consider Before Choosing a Home Warranty Company
These important factors can help you choose the best home warranty plan for your needs.
Cost
We requested 120 quotes for a 2,000-square-foot, single-family home. From this we determined that the average home warranty cost is $53–$62 per month. You'll also pay a service call fee of approximately $65–$125 every time you file a claim. Basic home warranty plans tend to be more affordable than comprehensive ones. Appliance plans are typically less costly than home systems coverage plans. Most plans give you the option of getting add-on coverage options for an additional monthly cost. Consider your specific needs before purchasing a plan.
Coverage
Many home warranty providers offer systems-only plans or plans for select appliances. Determine which appliances and systems you use the most before choosing a plan. If you only want to cover certain major systems (like heating) or certain appliances, you can find a plan that meets your needs. 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 only cover 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 with their service contracts. Make sure you read it and understand your plan's specific terms and conditions.
Provider Reputation
Carefully consider a provider's reputation before deciding on a plan. Check its Better Business Bureau rating. You can also read customer reviews on sites such as Best Company, Google Reviews, and Trustpilot. Reading these reviews gives you an idea of how companies handle claims and customer service. Check with the Minnesota Attorney General to verify the status of a provider's state license.
Contractor Network
Take into account a home warranty company's network of service providers. Any company you choose should use licensed and registered contractors to fulfill service requests; make sure to ask your company how and where it sources technicians. If you can, use a provider that mentions service contractors you're familiar with. Residents of rural areas should consider going with a home warranty provider that customers choose their technician. There may be no in-network service providers available in these areas, so customers might need to source their own.
Frequently Asked Questions About Home Warranty in Lakeville
Is a home warranty required in Lakeville?
What are preexisting conditions?
What is Lakeville's best home warranty provider?
Do home warranties cover other types of home items?
Why is there a waiting period before my home warranty coverage begins?
How can I maximize the value of my home warranty?
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