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Best Home Warranty Companies In Nevada June 2022 – Forbes Advisor

Best Home Warranty Companies In Nevada June 2022 – Forbes Advisor

From a cost standpoint and for peace of mind, finding a home warranty that fits your needs is important. 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 as you consider the following factors.

Your Coverage Needs

Deciding how much of what kind of home warranty coverage you need is perhaps the trickiest part of choosing a plan.

Start by taking 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. Keep in mind that you may have other utility service plans that cover your HVAC components as well.

Next, compare your list of needs with the various coverage plans of different companies. When comparing your list, you’ll find that not all home warranty companies are the same. Choose a plan with a company that fits the needs of your home.

Your Budget

Home warranty pricing depends on a few distinct factors. The number of items covered is number one, followed by the extent of the coverage and the service fee. Home warranty service fees are a deductible that becomes due each time you call on your home warranty to provide service to a covered appliance or system.

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 are often accompanied by service fees of $100 or more and generally cover only basic repairs.

Your budget and monthly cash flow can help you decide which is better for your situation. Lower priced plans with high deductibles may be better suited to those with higher risk tolerance for emergency expenses, while spending a little more each month may eliminate the need for setting aside large amounts of emergency cash.

Contracts and Terms

Before signing on with a home warranty company, read the fine print. Each company has policy requirements that can be very different from another company’s plan that seems similar. Limits and exclusions are the norms rather than the exceptions when deciding which home warranty is right for you.

Check to see that everything you need to have covered is present in the contract and that you’re comfortable with any limits and policies.