Lamacchia Realty, Inc.
Lamacchia Realty, Inc.
Trevor Gearin, Lamacchia Realty, Inc.Phone: (978) 590-6793
Email: [email protected]

Home Warranty: Tips and Tricks

by Trevor Gearin 05/12/2023

The Ultimate Guide to Shopping for a

Home Warranty: Tips and Tricks

 

 
As a homeowner, you want to protect your investment and ensure that unexpected expenses don't derail your budget. A home warranty can be an excellent way to provide peace of mind and safeguard your finances. In this guide shared by Trevor Gearin of CENTURY 21 McLennan & Company, we will explore some strategies for home warranty shopping.
 

A Home Warranty Advantages

A home warranty is a service contract that covers the repair or replacement of appliances and systems in your home. Depending on the policy, a home warranty can cover items such as your HVAC system, plumbing, electrical, dishwasher, refrigerator, and more. The primary benefits of a home warranty include:
     ● Financial protection: When an unexpected appliance or system failure occurs, a home warranty can help minimize out-of-pocket expenses.
     ● Convenience: Instead of searching for a reputable technician, a home warranty provider will typically send one of their approved contractors to your home.
     ● Peace of mind: Knowing that you have a home warranty can help reduce stress and worry about unexpected repairs and replacements.
 

Assess Coverage Needs

Before you start shopping for a home warranty, it's essential to determine your coverage needs. Make a list of all the appliances and systems in your home, along with their age and condition. Consider which items are most critical to your daily life and would cause significant inconvenience if they were to fail. Next,
review the coverage options provided by various home warranty companies and compare them to your list. Ensure that the policy you choose covers the items that are most important to you.
 

Know the Coverage Limitations

Home warranty policies typically have coverage caps, which specify the maximum amount the provider will pay to repair or replace an item. It's crucial to review these caps when comparing policies. If an item requires
replacement, make sure that the coverage cap is sufficient to purchase a similar replacement. Additionally, understand that some home warranty providers may not cover certain problems.
 

Examine Costs and Affordability

When shopping for a home warranty, it's vital to review pricing and affordability. Home warranty companies typically charge an annual fee, which can range from a few hundred dollars to several thousand dollars. Some
companies may also offer monthly payment plans. Be sure to review the cost of the policy, deductibles, and service fees associated with claims.
 

Digitize and Utilize PDFs

If you have recently purchased a home warranty policy, it's crucial to keep all the documents safe and accessible. One way to streamline this process is by digitizing all your home warranty documents and saving them as PDFs. This will ensure that you have quick access to all policy information, coverage details, service fees, and claim procedures. So, check this one out and simplify your life by going digital with your home warranty documents.
 

Obtain Several Quotes

When shopping for a home warranty, it's critical to get multiple quotes from different providers. This allows you to compare policies, coverage options, and pricing. It's also essential to review the fine print of each policy to understand any exclusions or limitations. Don't be afraid to ask questions and ensure that you fully understand the policy before making a purchase.
 

Background Reviews

Before choosing a home warranty provider, it's essential to research company reviews. Look for reviews from previous customers to get an idea of the company's customer service, claims handling, and overall satisfaction. You can find reviews on the company's website, social media pages, and other online review sites.
 
A home warranty can be a valuable investment for homeowners. By determining your coverage needs and caps, reviewing pricing and affordability, digitizing all home warranty documents, etc., you can find a policy that provides peace of mind and protects your investment. Remember, if you have any questions or concerns about a home warranty, don't hesitate to reach out to the provider for clarification.
 
Guest Written by:   Sarah Noel
About the Author
Author

Trevor Gearin

When you think of buying or selling real estate...Think of Trevor, 

When you want "GEARIN-TEED" Results!   

EXPERIENCE   

A full time Realtor with years of experience in local markets with proven results. I sell in ALL market conditions!   

EDUCATION   

Lee Institute of Real Estate 

Licensed MA Real Estate Salesperson 

Licensed NH Real Estate Salesperson