Are Home Warranties Worth It for Memphis Residents?
Yes, home warranties are worth it for Memphis residents. Memphis summers are very hot, which makes it very important to have a reliable air conditioner. However, over time this system can malfunction from heavy use.
Memphis 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 are comparatively cheaper at only $644–$737 per year, based on 120 quotes we received from home warranty companies nationwide.
The frequent rain in Memphis can damage your home's roof. The cost of repairs will be lower if your home warranty has roof-leak coverage. Lastly, a home warranty connects you with service providers you can trust.
Investing in a reputable home warranty company is worth it because companies vet their technicians. When life keeps you busy, your home warranty provider can give you peace of mind that someone reliable will handle your issue.
What To Consider Before Choosing a Home Warranty Company
Think about these key factors when selecting your home warranty plan.
After getting 120 quotes for a 2,000-square-foot, single-family home, we determined that home warranties cost approximately $53–$62 per month. Additionally, you'll pay a service call fee each time you file a claim. These fees typically range from $65–$125 per claim. Basic home warranty plans tend to be more affordable than comprehensive ones. Appliance plans are typically less costly than home systems coverage plans. With most plans, you can get add-on coverage options for an additional monthly fee. Consider your particular needs before committing to a plan.
Figure out which appliances and systems you use the most. You'll want a home warranty plan that covers these items. Most plans can be tailored to your needs, and many companies offer systems-only plans for homeowners that only need select coverage (such as for air conditioning). You can also find plans that cover only select appliances. The following 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 don't cover preexisting conditions or improper installation. Most policies will only cover breakdowns from normal wear and tear. Most also exclude cosmetic issues or appliance components, routine maintenance, theft, or defects. Providers outline limitations and exclusions within their service contracts. Make sure you read yours carefully to fully understand the terms and conditions of your plan.
Consider a company's reputation when making a decision. You can also read real customer reviews on sites such as Best Company, Google Reviews, and Trustpilot. Reading reviews can give you a sense of how providers handle claims and customer service. Check with the Tennessee Division of Consumer Affairs to verify the status of a provider's state license.
Take into account a home warranty company's service provider network. The company you choose should use licensed and registered contractors to fulfill service requests; make sure to ask your company how and where it sources technicians. We recommend picking a provider that mentions service contractors you're familiar with. Those who live in rural areas should consider a home warranty policy that lets them choose their technician. You may not have any in-network service providers in your area, so you want the option to source your own.
Frequently Asked Questions About Home Warranty in Memphis
Do I need a home warranty in Memphis?
What are preexisting conditions?
What is the best home warranty provider in Memphis?
Do home warranties cover other types of home items?
Why do home warranties have a waiting period before coverage begins?
How long does a home warranty typically last?
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