Are Home Warranties Worth It for Monroe Residents?
Yes, home warranties are worth it for Monroe residents. Monroe experiences hot summers, and you probably use your air conditioner constantly during the warmer months. Your air conditioning system may malfunction over time from heavy use.
Monroe has fairly mild winters, but it's still important to make sure your heating works when needed. The cost of replacing your HVAC system can range anywhere from $2,500–$8,000. Home warranties, on the other hand, come in at only $644–$737 annually, based on 120 quotes we requested from home warranty companies nationwide.
Monroe's regular rain showers can also affect your roof. Some home warranty companies offer limited roof-leak coverage to financially assist with repair. Lastly, your home warranty will connect you with trustworthy service providers.
Investing in a reputable home warranty company is worth it because companies vet their technicians. When life keeps you busy, your home warranty company can give you peace of mind that someone reliable will handle your problem.
What To Consider Before Choosing a Home Warranty Company
Consider these important factors when determining the right home warranty plan for you.
Cost
We received 120 quotes for a 2,000-square-foot, single-family home and determined that home warranties cost an average of $53–$62 per month. There are also service call fees that apply each time you file a claim. These fees range from $65–$125 per claim. Basic home warranty plans generally cost less than comprehensive ones. Appliance plans usually cost less than home systems coverage plans. Add-on coverage options raise the monthly cost, so consider your specific needs before purchasing a plan.
Coverage
Most home warranties can be somewhat customized to your needs. Make a list of the systems and appliances that you use often and need coverage for. If you only want coverage for select systems or appliances (such as your air conditioning), 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
Generally, home warranties only cover normal wear and tear. They don't cover preexisting conditions or improper installation. Generally, cosmetic issues or appliance components, routine maintenance, defects, or theft aren't covered either. You can read about your provider's exclusions and limitations within your service contract. Be sure to read the contract carefully to understand your plan's terms and conditions.
Provider Reputation
Carefully consider a provider's reputation before committing to a plan. Check its Better Business Bureau rating. In addition, read customer reviews on sites like Google Reviews, Trustpilot, and Best Company. These reviews can give you an idea of how companies handle customer service and claims. Check with the North Carolina Attorney General to verify the status of a provider's state license.
Contractor Network
Consider a home warranty company's network of service providers. Make sure you ask your provider where and how it sources technicians. All reputable companies should use licensed and registered contractors to handle service requests. If you can, use a provider that mentions service contractors you're familiar with. Rural homeowners might prefer home warranty policies with the option to choose their technicians. There may not be any in-network service providers in these areas, and you'll want the option to choose your own.
Frequently Asked Questions About Home Warranty in Monroe
Is a home warranty required in Monroe?
What are preexisting conditions?
What is the best home warranty provider in Monroe?
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?
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