Are Home Warranties Worth It for New York City Residents?
Yes, home warranties are worth it for New York City residents. New York City summers can get hot, which makes it important to have a reliable air conditioner. However, this system can malfunction over time due to breakdowns from regular wear and tear.
New York City has relatively mild winters, but there are still days you'll need your heating. The cost of an HVAC system replacement can range anywhere from $2,500–$8,000. Home warranties, on the other hand, come in at only $644–$737 a year, based on 120 quotes we requested from home warranty companies nationwide.
New York City'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.
Reputable home warranty companies vet all their service providers. If life keeps you busy, 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 key factors when picking the best home warranty plan for you.
After getting 120 quotes for a 2,000-square-foot, single-family home, we determined that home warranties cost roughly $53–$62 per month. Additionally, you'll pay a service call fee every time you file a claim. Service call fees range from $65–$125 per claim. Comprehensive home warranty plans typically cost more than basic ones. Appliance plans usually cost less than home systems coverage plans. Add-on coverage options raise the monthly cost, so consider your particular needs before purchasing a plan.
You can often find home warranty plans that cover specific systems and appliances. Decide whether you need coverage for major systems (such as air conditioning), specific appliances, or both. Then ask your provider about its options for customized coverage. Here is a list of common systems coverage:
- Air conditioner
- Central vacuum
- Water heater
- Built-in microwaves
- Clothes washers and dryers
- Garbage disposals
Typically, home warranties only cover normal wear and tear. They don't cover preexisting conditions or improper installation. Generally, cosmetic issues or appliance components, defects, theft, or routine maintenance aren't covered either. Providers outline their exclusions and limitations in their service contracts. Read your contract thoroughly to make sure you understand the terms and conditions of your plan.
Also, consider provider reputation when making a decision. You can find customer reviews on sites such as Best Company, Trustpilot, and Google Reviews or look at a company's Better Business Bureau (BBB) rating. Ratings and reviews are a great way to assess how providers handle customer service and claims. Check with the New York Division of Consumer Protection to verify a provider's state license.
Take into account 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 how and where it sources technicians. If you can, use a provider that mentions the names of familiar service contractors. Residents of rural areas may consider choosing a home warranty that lets them pick 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 New York City
Is a home warranty required in New York City?
What are preexisting conditions?
What is New York City's best home warranty provider?
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 long does a home warranty typically last?
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