Home Warranties

A home warranty can be beneficial, but like any other warranty or insurance you’re purchasing, make sure it’s the policy for you. It does not help you at all, to find out once your furnace breaks, that your home warranty only covers a certain percentage. Do your research, and make sure the items you need covered are included. 

Starting with two companies I have used, or a relative has used, let’s break it down…

1. HomeServe

1. Homeserve offers monthly plans that will cover your plumbing, HVAC, and Electrical, Appliances and more. You can choose to bundle the different items that are offered, but they are easily accessible, and easy to compare. They have all maximum benefit amounts listed, so you can evaluate whether or not each plan is going to allow enough to cover the cost of the whole repair if something were to happen. 

2. Cinch

1. Cinch offers yearly plans with a $100 or $200 deductible. Both of the plans offer coverage on items on their standardized list. HVAC, Plumbing, Electrical, Appliances (Excluding Washer/Dryer, may add for $50) are included, along with some additional items you can review in their brochure. The single family home base plan with a $200 deductible is $438.00/year. With Cinch, I highly recommend purchasing more than one year at a time to lock in your rate. 

To even the playing field, here are two companies I haven’t personally used: 

3. HSA Home Warranty

1. HSA Home Warranty plans start at $560.00/year, those base plans include your heating system, toilets, plumbing parts, polybutane leaks, water/gas/drain & waste lines, Drain line stoppages, water heater, sump pump and more. (Take a look at the brochure through the link!) You can add an additional $149.00/year to the plan to cover extra items, like window air conditioning units, your refrigerator, permits, faucets & showerheads, and more! Finally, this plan even allows you to add your swimming pool, for $150.00/year.

4. Old Republic Home Protection

1. Old Republic Home Protection offers Silver, Gold and Platinum Plans, and include all of their coverage limits for each item. They offer 1 and 2 year plans. 2 year plans give you a discount, which is an added bonus! You single family home silver coverage starts at $475/year ($900 for 2/yr) and includes coverage for heating, air conditioning, some plumbing & electrical items, garage door opener, central vacuum (If applicable), Rekey, and select appliances. 

Like I said, always make sure the plan you’re purchasing is what works best for you, but don’t think it’s a waste of money and toss it aside, especially if you’re purchasing or currently own a house where your major mechanicals are not brand new. Better to be safe than sorry, and if any type of insurance is worth it, it’s the one that brings you a new hot water tank in an emergency.