Home warranty plans provide protection for homeowners to help them save money on repairs for various appliances and systems in the home. These plans are very beneficial for those buying a home since they can provide coverage for repairs when a budget is tight right after the purchase. These plans can even be personalized to meet the homeowner’s specific needs.
What are Home Warranty Plans?
Home warranty plans are service contracts homeowners can purchase that provide protection for covered items. When a covered item breaks down, the homeowner only pays the set amount for repairs or replacement of the covered item. That when combined with the cost of a home warranty is often considerably less than the costs of repairs and replacements on their own.
For those who recently purchased a home, this can be a lifesaver, especially when the budget is already tight from the home purchase and all that is involved with moving into a new home. Home warranties can cover a plethora of appliances and systems, as well as other aspects of a home to help homeowners save money throughout the years.
Why Personalize a Home Warranty?
Nearly every home has a refrigerator, stove, microwave, and dishwasher. This is why the basic appliance plan covers these items. In addition, the basic system plan offers protection for a home’s heating and cooling systems, as well as the plumbing because most homes have those things.
Not every home is exactly the same. Not every homeowner needs or uses the same appliances or even the same type of coverage. These vast differences between individuals are the reason why a home warranty can be and should be personalized to ensure each homeowner gets the right amount of protection they need.
Personalize by Plans
Personalizing a home warranty can be done by choosing the plan that is right for the homeowner. There are plans that cover basic appliances, plans that cover the basic systems of a home, and plans that offer more protection for other aspects of a home. Each homeowner can choose a base plan that best meets their home’s needs.
After a base plan is chosen, homeowners can choose to add items to their coverage. For example, homeowners that have additional refrigerators or spa equipment in their home, they can choose to have their coverage extended to these items to provide a more comprehensive protection plan.
Personalize by Price
For homeowners that need to mind their budget, they can have their plan personalized by price. Some basic kitchen plans can start at as low as $19 a month. This can help homeowners keep their appliances protected at an affordable rate. Considering the average cost of refrigerator repair is between $200 and $1000, the kitchen plan is a great benefit to the homeowner’s budget.
Although keeping a home warranty plan trimmed down may seem like a benefit to the household’s budget, it can actually cost a lot more in the long run. For example, if a homeowner sticks to the kitchen plan to save money but finds their furnace needs repair, their budget may pay the ultimate price. This is because the cost of furnace repair can range between $375 and $1200, depending on the problem and the type of repair.
It is always best to personalize a plan to provide coverage for the things that are most important to the household. For appliances and systems that need to run all the time, it is a good idea to find a home warranty to cover them. This can ensure the home keeps running properly and efficiently.
