How Home Warranties Can Save You Money On Home Repairs In The USA

Just about everyone I know has too many bills to pay. Most of us are privileged enough to pay them on time, but we are left with little money for savings. Vacations need to be planned long in advance if they are going to be at all possible. Americans in general not only live month-to-month but are in a lot of debt. 

As a homeowner, a lack of disposable income can cause a lot of trouble. Things break, either due to wear-and-tear, weather, or accident. Some of these things need to be repaired immediately, costing money you don’t have. Others can be left until "later", but when you are living hand-to-mouth, later might never come.

The unfortunate reality is that American homeowners can expect to spend over a thousand dollars on maintenance and repairs every year. It might feel like a chance event when it happens to you, but it is actually fairly predictable.

It is for this reason that home warranties exist. Home warranties ensure that you can take care of maintenance and repairs when they happen, no matter how much you have in the bank. 

It’s important to call out that not all home warranty companies are worth buying from. Some companies take a long time to fulfill repair requests, charge high service fees, and try to get out of replacing covered items through technicalities. That said, if you are a homeowner, you should get familiar with the top home warranty options available right now, so you can avoid wasting time or money with a bad home warranty company.

To understand how home warranties can save you money, this is what you can expect.

What do home warranties cover?

Different home warranty plans cover different expenses. However, they generally fall into two categories: systems and appliances. 

Systems warranties cover all home systems, including electricity, plumbing, structural issues, and HVAC (heating, ventilation, and air-conditioning). These are the most important repairs to take care of, as damage to them can make your home unlivable. Furthermore, these are not matters you should take into your own hands, as it is easy to make costly and even dangerous mistakes.

You can also get warranties that cover your appliances. With these warranty plans, any of your appliances can be serviced immediately when something goes wrong.

Combo plans include both systems and appliances. Some provide cover for extras such as your pool and spa, along with wine cellars.

Do they provide services?

In addition to paying for repairs and maintenance, your home warranty company will source service providers for you. You can call the company in an emergency and they will get someone to help you immediately.

Of course, certain home warranty companies will only work with partnering service providers, so you might not be able to use your trusted provider.

Is there a catch?

As with all types of insurance in the US, home warranties come with a fair amount of fine print. Deductibles and copayments on a big repair may cost you more than you are able to pay. Furthermore, some companies cap services at a particular price. Make sure to read all the fine print before signing up for a warranty, as these kinds of caps can make certain services unaffordable for you.

Nonetheless, home warranties can save you a lot of money by ensuring your repairs and maintenance are taken care of immediately. Problems do not build up, and you can account for the cost of maintenance according to the premium.

If you want peace of mind as a homeowner, a home warranty will provide plenty of comfort. Be sure to look through the fine print before choosing a provider and plan.