2023’s Best Home Warranty Companies

If you're considering a home warranty, it's important to understand what it covers and whether or not it's right for your situation. Let's explore everything you need to know about home warranties, including what they are, who should get one, and how much they cost.

What Is A Home Warranty?

A home warranty is a contract between you and the home warranty company. You buy a plan from a home warranty company, and that warranty company agrees to repair certain home systems and/or appliances if they break down. There are two main benefits:

• Peace of mind knowing that certain items will be covered by the warranty should they break down or need repair
• Contractors who work on covered items are paid directly by the warranty provider, so any additional expenses will not come out of your pocket

What Is And Isn't Covered By Home Warranties?

Home warranty companies will offer different plans covering a variety of home systems and/or appliances. They may include:

• Electrical
• Plumbing
• Heating & cooling
• Major home appliances (such as refrigerators, washers, dryers, etc.)
• Roof
• Garage Door
• Pool
• Sewerage / Septic

Should I Get A Home Warranty If I Already Have Home Insurance?

Yes, because they cover different situations.

Home insurance covers the home and/or parts thereof in case of loss or accidents such as fire, flood, wind damage, or theft. In short, home insurance usually only covers problems with the house structure.

Home warranties cover major systems and appliances typically not covered by home insurance. For example, if your furnace stops working due to age, your home insurance would not cover its repair, but a home warranty would. Because home warranty covers things that fail over time, you can think of it as getting an extended warranty for the major systems and appliances inside your home.

How Much Does A Home Warranty Cost?

Home warranties are fairly affordable, but the cost can vary greatly depending on what you want covered and which company you choose.

The bottom line is that a home warranty is a great idea if you're worried about the cost of home repairs and maintenance. There are many home warranty providers, each offering different coverage plans. That's why it's important to shop around to find the correct home warranty plan to best meet your needs and budget.