Is a Home Warranty Worth It?

Are Home Warranties Worth It?

Home warranties have become quite popular these days. You can pay a pre-specified sum to warranty providers and leave the task of maintaining home appliances to them. Whether the appliances need repairs or routine maintenance checks, you won’t need to go through the hassle of looking for a professional when things go wrong.

When you pay a hefty sum in terms of a home warranty, you may wonder whether it’s a good idea to go for a warranty. After all, no one wants to waste their hard-earned money.

Should You Get a Home Warranty?

The premium for a home warranty usually ranges between $300 and $500 a year. Here are a few reasons why it’s a good decision to buy a home warranty for basic appliances:

Easy Fix

The major benefit of a home warranty is the convenience factor. You don’t need to worry about looking for a technician when home appliances stop working. All you need to do is to call the warranty service company and they will repair the machinery on their own.

It also saves you from the effort of comparing quotes by multiple repair services and then deciding which option will work best for you.

Avoid a Crisis

When you buy new home appliances or replace the old plumbing system during a home renovation, you may worry whether or not they’ll function at their best. With a home warranty plan in place, there’s nothing to worry about.

Professionals will maintain and repair major systems and electrical appliances as per the terms of the contract. This way, you can avoid a crisis and relax.

Big Savings

You may hesitate in buying a home warranty plan due to the costs of plans. But when you compare them with the average home appliance repair expense, you’ll learn that it’ll actually benefit you in the long run.

When plumbing systems or electrical appliances malfunction, you may end up spending hundreds of dollars to repair or replace them. Not only does this tamper with your budget, but you may also get into debt.

If you get a home warranty, you can get the repair work done without breaking the bank. For a fixed cost, the warranty provider will maintain or repair the appliances and systems as needed. For instance, replacing the compressor of your refrigerator would cost you a huge sum. But you can cut down on costs through a warranty plan.

The appliance coverage may vary depending on the warranty plan you choose. However, here are a few items that you should consider a warranty for:

  • TV
  • Refrigerator
  • Oven
  • Washer and dryer
  • Air conditioner
  • Dishwasher
  • Plumbing system

Buying a home warranty plan gives you peace of mind and saves you from the trouble of acquiring the services of professionals when home appliances or systems stop working. For a flat rate, the warranty company will manage the tasks for you, making your life easier.

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