Are Home Warranties Worth It for Lakewood Residents?
Yes, home warranties are worth it for Lakewood residents. Lakewood can have fairly hot days during the summer, and you probably use your air conditioner frequently during the warmer months. Your air conditioning system can malfunction over time from heavy use.
Lakewood winters can be fairly mild, but there are still times when you want to have a reliable heating system. Replacing your HVAC system can cost between $2,500 and $8,000, compared to a home warranty coming in at around $644–$737 annually based on 120 quotes we received from home warranty companies nationwide. Lakewood's heavy rain can cause damage to your roof.
Some home warranty companies offer limited roof-leak coverage, which can mitigate the cost of roof repair. Finally, home warranties connect you with trustworthy service providers. Reputable home warranty companies vet every service provider they use.
If you don't have time to do the research yourself, investing in a home warranty ensures a trustworthy technician will fix your issue.
What To Consider Before Choosing a Home Warranty Company
Think about these important factors when picking the best home warranty plan for you.
Cost
We received 120 quotes for a 2,000-square-foot, single-family home and found that home warranties cost an average of $53–$62 per month. There are also service call fees each time you file a claim. Service call fees range from $65–$125 per claim. A basic home warranty is generally more affordable than a comprehensive one. Home systems coverage plans tend to cost more than appliance plans. Most plans offer add-on coverage options for an additional monthly fee. 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 the most before purchasing a plan. If you only need coverage for certain major systems (like air conditioning) 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, which excludes preexisting conditions and improper installation. Most policies also exclude appliance components or cosmetic issues, defects, routine maintenance, or theft. Each provider will outline its limitations and exclusions in its service contract. Thoroughly read your contract to fully understand the terms and conditions of your plan.
Provider Reputation
Consider provider reputation when making a decision. You can also read real customer reviews on sites such as Google Reviews, Trustpilot, and Best Company. Reading reviews can give you a sense of how companies handle claims and customer service. Check with the New Jersey Division of Consumer Affairs to verify a provider's state license.
Contractor Network
Consider a home warranty company's service provider network. Trustworthy home warranty providers source licensed and registered contractors to handle service requests. We suggest asking a provider how and where it sources technicians. We recommend picking a provider that mentions service contractors you're familiar with. Homeowners in rural areas should consider choosing a home warranty provider that lets customers select their technicians. You'll want the option to source your own providers if no in-network ones are available in your area.
Frequently Asked Questions About Home Warranty in Lakewood
Do I need a home warranty in Lakewood?
What are preexisting conditions?
What is the best home warranty provider in Lakewood?
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?
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.