Owning a home is a dream for many, but along with the joy comes the responsibility of maintenance. Fortunately, with a quick search online, you can find a reliable and cheap home warranty for as little as $17 a month.
Don’t let the threat of costly repairs cause another sleepless night. Be patient, learn as much as possible, and explore the many reliable and affordable home warranty options available to homeowners like you.
Understand What A Home Warranty Covers
First and foremost, it’s crucial to comprehend what a home warranty is and what it covers. It’s a service contract that promises to repair or replace specific home system components and appliances when they break down due to normal wear and tear.
Unlike home insurance, which covers damages from unforeseen events like fires or natural disasters, a home warranty covers things like your refrigerator, HVAC system, or plumbing. Familiarizing yourself with the coverage can help you identify which plan suits your needs without paying for unnecessary inclusions.
Shop Around and Compare
As with any other service, prices and offerings for home warranties vary significantly across providers. Don’t just settle for the first company you come across. Make a list of what you want covered, then get quotes from multiple companies.
By comparing, you might find that some providers offer promotional rates, discounts for new homeowners, or bundled deals that make the overall cost cheaper. Ensure that while comparing, you’re not just looking at price but also at coverage, contract terms, and customer reviews.
Opt For Longer Contracts
Most home warranty companies provide a discount if you opt for a longer contract term, such as a year or more. While this means a larger upfront payment, the monthly equivalent can be much lower.
For example, what might be $25/month on a monthly plan could drop to $17/month if you pay for a year in advance. However, before committing, ensure you’re satisfied with the service and understand the cancellation policies.
Customize Your Plan
Some home warranty companies allow you to customize your plan. Instead of opting for a comprehensive plan that covers everything (and charges you for it), you could choose only to cover specific systems or appliances that are older or more prone to breakdowns.
This way, you’re not paying for coverage you don’t necessarily need. For instance, if you have brand new kitchen appliances but an older HVAC system, you might only opt to cover the HVAC, thus reducing your monthly premium.
Evaluate Exclusions and Limitations
Every home warranty plan comes with its set of exclusions and limitations. While a warranty might seem affordable at a glance, it’s essential to delve into the details of what’s not covered.
For instance, some plans might cover an HVAC system but exclude specific components or have a cap on the maximum amount they’ll pay out annually. Being aware of these nuances ensures you aren’t caught off-guard when a claim arises.
Negotiate Your Rate
Negotiation isn’t solely the domain of flea markets and car dealerships. Some home warranty companies might be open to negotiating the price, especially if you’re bringing them multiple properties or referrals. It never hurts to ask, and your negotiation skills might just land you a sweeter deal than the advertised rate.
Bundle with Home Insurance
Some insurance companies offer both home insurance and home warranties. In such cases, there might be an opportunity to bundle both services and achieve some savings. Even if your current insurance provider doesn’t offer warranties, they might have partnerships or affiliations with companies that do, entitling you to a discount.
Keep an Eye on Renewal Terms
Some companies offer attractive rates for the first year, only to hike the prices substantially upon renewal. Be aware of this tactic. When your contract is nearing its end, shop around again. Staying informed about market rates ensures you’re always getting the best deal, whether it’s sticking with your current provider or switching to a new one.
Learn More Today
Securing a home warranty for cheap doesn’t mean compromising on quality or coverage. With a bit of research, understanding your needs, and leveraging discounts, you can indeed get comprehensive protection for your home systems and appliances for as little as $17/month.
Homeownership comes with its share of challenges, but with the right warranty in place, facing unexpected breakdowns won’t be one of them. As you embark on this journey, don’t halt your research here. Dive deeper online, gather more information, and make a choice that best suits your home and pocket.