Home protection plans are growing in popularity. Home buyers and sellers alike see the advantages to obtaining a home warranty. You may have heard they’re a good thing to get, but may be unsure as to their benefits or how to go about finding the best home protection from a reputable company. These home protection plan tips should help you to understand the product better, and you’ll be well on your way to make an informed decision regarding whether it’s right for you.
Understand the Basics
A home protection plan is not home owner’s insurance. They are two separate things. It’s important to have an understanding of what you’re getting. A home warranty doesn’t cover damage or loss due to an accident or natural disaster. It covers repair or replacement costs when things in your home break down, such as air conditioners, inside plumbing, garbage disposals or dishwashers. Your warranty company will pay to have an item repaired or replaced based on what is most economical.
Coverage is Yearly
You must re-up on your home warranty yearly. The average cost varies, but usually falls between $400 and $450 per year. That cost will depend on where you live and on the items you include in your plan. When something in your home breaks down, you’ll want to first call your home protection plan provider in order to have them dispatch one of their approved service providers. There will be a fee to the provider, and that usually runs between $25 and $100. Still, the yearly plan cost plus the service fee can be quite minimal in comparison to covering a major repair or replacement on your home. Replacing a major home system can cost thousands of dollars.
Understand Your Policy
In order to get the most from your coverage and to avoid frustration or misunderstanding, it’s important that you fully understand your policy. You don’t want to assume something was covered in your plan only to find out when it breaks that you have to foot the entire bill. You can often choose add-ons to home protection plans for large items like a pool or spa. So if something of value is important to you, be sure to ask your warranty company if it can be included in your plan.
Do Your Research
As with anything, not all home warranty companies are alike. Do your research in order to find the best home protection with a reputable company. Check out reviews online and be sure to read the contracts of a few different companies to compare. Take a close look to see what is covered and included in each contract in order to determine which company offers the better value. Go with your gut and choose the one that answers your questions freely and offers you professional service. AHS is a leader in the home protection plan industry. They can be found at www.ahs.com.
These are just a few tips on understanding and purchasing a home protection plan. These plans truly are an investment in your home that can save you a great deal of money.