Are Home Warranties Worth It for Lorain Residents?
Home warranties are worth it for Lorain residents. Lorain summers can have some very hot days, which means it's important that your air conditioner is working well. However, this system can malfunction over time due to breakdowns from regular wear and tear.
Winters in Lorain are very cold, meaning you rely on your heating system often. Replacing your HVAC system can cost between $2,500 and $8,000, compared to a home warranty costing roughly $644–$737 annually based on 120 quotes we requested from home warranty companies nationwide. The regular rain in Lorain can damage your roof.
The financial burden of this will be lessened if your home warranty has roof-leak coverage. Finally, a home warranty connects you with trustworthy service providers. A reputable home warranty is a good investment because companies vet their technicians.
If you're focused on work or other priorities, your home warranty provider can give you peace of mind that someone reliable will handle your problem.
What To Consider Before Choosing a Home Warranty Company
Think about these key factors when picking the best home warranty plan for you.
Cost
We pulled 120 quotes for a 2,000-square-foot, single-family home and determined that the average home warranty cost is $53–$62 per month. Additionally, you'll pay a service call fee of between $65–$125 whenever you file a claim. Basic home warranty plans are typically more affordable than comprehensive ones. Appliance plans are more affordable than home systems coverage plans. You can often get add-on coverage for an additional monthly cost. Be sure you know your specific needs before purchasing a plan.
Coverage
Many home warranty providers offer plans for select appliances or systems. Determine which appliances and systems you use the most before committing to a plan. If you only want to cover certain major systems (like heating) or specific 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
Typically, home warranties don't cover improper installation or preexisting conditions. Most policies only cover normal wear and tear. Most will also exclude appliance components or cosmetic issues, theft, routine maintenance, or defects. 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
Provider reputation is another important factor to consider. You can browse customer reviews on sites such as Google Reviews, Best Company, and Trustpilot or check a company's Better Business Bureau (BBB) rating. Ratings and reviews can provide insight into how a company handles customer service and claims. Check with the Ohio Consumer Protection Section to verify that a provider holds a valid state license.
Contractor Network
Consider a home warranty company's network of service providers. Companies should always use licensed and registered contractors to handle service requests. Make sure you ask how and where a company sources its technicians. We recommend picking a provider that mentions service contractors you're familiar with. Rural homeowners might prefer a home warranty that lets them choose their technician. You'll want to be able to source your own provider if there are no in-network ones in your area.
Frequently Asked Questions About Home Warranty in Lorain
Do I need a home warranty in Lorain?
What are preexisting conditions?
What is the best home warranty provider in Lorain?
Do home warranties cover other types of home items?
Why do home warranties have a waiting period before coverage begins?
How do I file a claim with my home warranty provider?
How can I maximize the value of my home warranty?
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.