Are Home Warranties Worth It for Portland Residents?
Home warranties are worth it for Portland residents. Portland can have fairly hot days during the summer, and you probably use your air conditioner frequently during warmer months. Your air conditioning system can malfunction over time due to breakdowns from regular wear and tear.
Portland also has cold winters, meaning your heating system is working constantly during the colder months. The cost of replacing your HVAC system can range between $2,500 and $8,000. A home warranty plan is comparatively cheaper, only $644–$737 per year, based on 120 quotes we requested from home warranty companies nationwide.
The frequent rain in Portland can damage your roof. The financial burden of this will be lessened if your home warranty has roof-leak coverage. Finally, 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 select the best home warranty plan for your needs.
We pulled 120 quotes for a 2,000-square-foot, single-family home. From this we determined that home warranties cost an average of $53–$62 per month. You'll also pay a service call fee of between $65–$125 whenever you file a claim. Basic home warranty plans typically cost less than comprehensive ones. Appliance plans usually cost less than home systems coverage plans. Consider your specific needs before choosing a plan, as add-on coverage options will raise the monthly price.
Determine which appliances and systems you use most often. Most home warranty plans offer custom coverage tailored to your needs. If you only need coverage for select systems, like your heating, most companies offer systems-only plans. The same is true if you only need coverage for select appliances. Here is a list of common systems coverage:
- Air conditioner
- Central vacuum
- Water heater
- Built-in microwaves
- Clothes washers and dryers
- Garbage disposals
Generally, home warranties don't cover preexisting conditions or improper installation. Most policies will only cover damage from normal wear and tear. Most will also exclude cosmetic issues or appliance components, theft, routine maintenance, or defects. A provider will outline its exclusions and limitations in your service contract. Read your contract thoroughly to fully understand your plan's terms and conditions.
Also, consider a provider's reputation when making a decision. You can find customer reviews on sites like Best Company, Trustpilot, and Google Reviews or look at a company's rating with the Better Business Bureau (BBB). Ratings and reviews are a great way to assess how providers handle claims and customer service. Check with the Oregon Department of Justice to verify the status of a provider's state license.
Take into account a home warranty company's network of service providers. Reliable home warranty companies 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 the names of familiar service contractors. Homeowners in rural areas should consider a home warranty policy that allows the customer to choose their technician. Rural areas may not have any in-network service providers available, and customers might need to source their own.