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Best Home Warranty Companies In Houston June 2022 – Forbes Advisor

Best Home Warranty Companies In Houston June 2022 – Forbes Advisor

It can be tricky to sort through all of the information to find just the right home warranty plan for your needs. However, taking the time to find the right one can save money and your peace of mind. Home warranty protections are different from homeowner’s insurance in terms of function and what’s covered. Make sure that a home warranty is worth it to you for your situation. Consider the following factors when deciding which one is right for your home.

Your Coverage Needs

Choosing a plan that meets your needs without exceeding them is crucial to saving the most money possible while still covering everything that you need protection for.

Perform a detailed inventory of the systems and appliances in the house, noting their ages, conditions and whether or not they’re still under the protection of a purchase warranty. Compare your list of needs against the lists of coverages offered by various home warranty plans from several companies. Companies generally list coverage details on their website that can be helpful during this step.

Choose a plan that fits your needs best without providing coverage for items you don’t need to have protected. For important items that a plan may have missed, most companies offer a list of add-on coverages you can consider as well.

Your Budget

The number of items covered and the extent of protection for those items are the main factors that determine the prices for home warranty plans. In general, the more coverage, the higher the cost. Home warranty policies also have a service fee associated with them that acts as a deductible due each time a claim is made for home repairs or replacements. The amount of the service fee often affects the monthly premium cost of the plan.

The highest-priced home warranty plans range from about $50 to $75 per month and have the lowest service fees while providing the most coverage amounts. Lower priced plans can be purchased for well under $50 per month, but they are often accompanied by service fees of $100 or more and generally cover only basic repairs.

For most homeowners, finding a balance between monthly premium costs and tolerable services fees is best. Let your budget and monthly cash flow be your guide when deciding.

Contracts and Terms

A home warranty policy is a contract. As such, always read the fine print before signing. Each company has its own policy requirements that can be very different from others’ at similar price points. Limits and exclusions are the norms, rather than the exceptions, and should be understood when comparing companies and policies.

Make sure the policy you choose has all the coverage you need and that you’re comfortable with any coverage limits.

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