While appliance protection plans are always a wise purchase if your appliances are older than 4 years, you still have to make sure that you chose a home warranty company that has a good reputation. It has been noticed that companies sometimes deny our claims on vague grounds, often quoting fine print from the contract. One major such reason stated for denying claims is lack of maintenance.
More than a handful of customers have reported that their claims were denied stating that the device was badly maintained. While it is understandable that customers feel cheated, we still have to realize that since contracts explicitly mention that lack of maintenance issues are not covered, we can’t expect the company to repair such devices.
Let’s take a look at a story that happened sometime back. A lady bought a home warranty contract thinking that she’ll get some budget protection. Her appliances were well over 4 years old. She briefly breezed through the contract and assumed that except for damages due to hazards, thefts and some explicitly mentioned perils, every other damage was covered. One day, her radiator breaks down. She informs the home warranty company and they send a tech to take a look at the device.
The tech finds out that the device was never serviced for quite a bit of time which eventually led to its breakdown. He innocently reports to the same to our lady who gets mad at the tech and the company. The lady then decides to write about this incident on the internet without realizing that the fault could be on her part. She did not get her devices serviced nor did she read the contract carefully. The company’s reputation suffered due to her carelessness.
Now let’s take a look at another story. Yet another lady bought a home warranty contract from a company that was not really famous nor did it have a good reputation. She paid her premium and she was a good housekeeper who regularly got her appliances serviced. She turned to her warranty company when her refrigerator malfunctioned. This company then sends over a tech who diagnoses the issue to be one caused due to lack of maintenance. The lady was distraught. She was sure that the issue was something else but what choice did she have? The company in question here, operated without ethics and refused to repair a damage that was legit. This incident too leaves the lady furious and in a position where she would definitely bad mouth the company.
So you see, like a coin with two sides, the home appliance warranty industry too has a good side and a bad side. There are cases where genuine claims were denied just so that the company can make a profit and there were cases where the denial was genuine and the customer could just not accept it.
We understand that nobody wants to encounter such unpleasant experiences. We can’t make these warranty companies behave themselves, so what we can do is to make sure that we don’t associate ourselves with companies that have a bad reputation or are fraudulent.
Here’s a list of things you can do to avoid any disputes and conflicts
We are a team of likeminded people who built HomeWarrantyReviews.com to provide genuine feedback about the industry to its customers, so we are not here to praise the industry or cover-up their mistakes. In the time that we spent here, which is over 9 years, we have come to realize the following:
If you keep all these points in mind, we’re sure that your experiences with the home warranty industry will be a pleasant one. Cheers!
Maintenance has never been about just appearance and aesthetics – more than anything, it is vital to maintaining your home and its appliances for safety. From electrocution to sparks, and short circuits to full blown fires, faulty electrical wiring can be extremely dangerous and must be dealt with caution and professional expertise.
Wondering how you know when to check your electrical wiring systems? Besides the fact that a routine check of all your sockets and circuits is recommended at least once a year, there are a few signs to look out for when it comes to possible electrical damage.
The far-reaching effects of faulty wiring bring to mind the much used saying ‘better safe than sorry’. A small investment in a professional, DIY check-ups of your electrical wiring or getting the home warranty for your home can be imperative to keeping you and your loved ones safe. Repairs are costly and maintenance is no doubt an easier way to prevent future problems, so we bring to you seven simple tips to keep track off and maintain your entire electrical wiring system.
Mark your calendars and keep a monthly check on your electrical outlets, you can do this by yourself and won’t need any assistance. The testers are inexpensive – you can find them at any home hardware store. A three-prong plug, the tester will have indicator lights on each prong. As you plug the tester into each outlet, the lights indicate any problems with the individual outlet. The earlier you know the problem the easier it is to get it solved and the risk of fire or a greater electrical malfunction is avoided.
Damaged and worn out wiring should be replaced immediately. The process is very simple and you might be able to change the wiring outlets on your own. If the problem seems to be more complicated do not hesitate to call a professional electrical who can perform the work. In fact, if such handy-work isn’t your cup of tea, a home warranty is a simple preemptive measure to rid yourself of unnecessary worry!
There are many occasions where it might seem preferable to procure a cheap knock off, but substituting your wiring outlets is not a place to economize. It is ideal to choose parts that are certified by a recognized safety certification institution, as you are rest assured that the product is completely safe and has gone through extensive testing.
This might seem the most obvious one, but most cases of electrocution are direct results of electrical appliances close to water outlets – kitchens, outdoor sockets, garages, and washrooms especially. Keep appliances as far from the taps and showers, constantly check the wiring in such parts of the house, don’t multitask with things like your hair curler and washing your hands and immediately get outlets tested if the tap or any pipes give you a shock when you touch them.
If the problem seems to persist and is more than your normal wear and tear, it is best to hand over to a professional electrician and in such situations, you should refrain from repairing your own wiring. Large numbers of electrical fires are likely to be caused by faulty repairs. By handing it over to the professional, you become risk-free and it is cost effective in the longer run.
To help prevent power outages, make sure there are not too many appliances plugged into one circuit. Overloading is one of the widespread problems of any wiring issue. When you have too many outlets working at once that exceeds your wattage consumption, the components heat up, causing your breakers to trip or spark up. So it is prudent to know which appliances are power hungry.
Electrical systems should be maintained well in its entirety – outlets, cords, trip breakers, circuit box, and bulbs amongst other things – and should be replaced if they show signs of malfunction.
Bulbs are especially prone to malfunction, especially when their wattage doesn’t match that of the outlet. Open outlets are dangerous, make sure that such ones are sealed and are untouched by seepage.
Do not disregard the wattage consumption, which is a common problem with bulbs. By putting high wattage consumption bulbs, it would increase your bills and cause the bulb to burn out faster, also causing the base to heat up and in turn risking a fire.
While you are getting your home checked for faulty wiring, you should also check the wiring outdoors, in the attic and the basement. These are places that you might forget to get checked and unattended, they could cause greater damage.
Even with all the steps above, maintaining the entire home’s wiring can be a task – making home warranty a worthy investment, especially during the winter season. Similar to insurance but a lot more specific in nature, Home Warranty takes care of repair and replacement of your appliances and wiring systems, amongst other things.
Repair and maintenance as a task as well as a financial burden can kill the joy of being a homeowner. The responsibilities only pile up, however trivial the task may seem, and keeping track of servicing and fixing is never easy. Taking care of both regular maintenance as well as problem-solving when your electrical system may hit a snag, Home Warranty can be life changing when it comes to the keep up of your home’s electrical wiring and appliances.
In a typical Home Warranty scheme, central air conditioning and heating systems, all appliances however big or small in your kitchen, washer and dryer of both clothes and vessels, entire electrical systems, plumbing systems, leaks, and seepages are covered for all levels of repair and replacement. Nevertheless, it is a good idea for you to do some pre-research before signing the papers!
There are a few simple ways you can get a hang of how Home Warranty works, what it covers, whether or not you need it and what plan will suit you best. Besides asking for recommendations from friends and family, reading up on consumer research based websites can give you not only a clear understanding of what you are getting into, but also substantiate the information with honest reviews from consumers.
HomeWarrantyReviews.com is one such site, giving you a comprehensive list of reviews from users across the country – many of which are specific to the laws of each state. The buying and selling of a house and all the laws that go with it are essential to follow when it comes to such procedures, making it tricky if you land up getting into a deal which doesn’t go hand in hand with the policies of the state.
The website also brings you a Home Maintenance Calculator to help you understand the expenditure your home will require in the long run, as well as awards and ratings of different companies, across the country.
Do you have a trusted appliance lying around your household for the past few years that you don’t want to give away or replace? Yet you are worried that it’s going to crash pretty soon leaving you with no other option other than repairing it or replacing it with a new one? Fret not! This article will shed some light on how to insure your household appliances against potential breakdowns
Let’s begin by comparing Home Warranty from the Homeowner’s insurance policy. The primary difference between the two is that Home Warranty covers repairs and replacements of failed appliances and systems, while the the Homeowner’s Insurance covers damages caused to your home and its content by natural hazards or theft. You can always find a contractor to repair your damaged appliances, but more often than not the costs involved in such scenarios are rather high. The other option that you have is to apply for a Home Warranty plan.
The Home Warranty plan is a contract of service that covers repairs and replacement of appliances and systems in your home. Depending on the kind and extent of coverage you wish to avail, the annual premium for the Home Warranty plan can range anywhere between $ 250 to $ 450. In addition, each time you approach the warranty company for a service, you have to pay a service fee usually called as the deductible. This is around $ 50. You can take a look at the table below if you want to know he systems and appliances that are covered under the Home Warranty Plans.
If you have doubts regarding whether or not your appliances need a Home Warranty Plan right now, take a look at the following chart. It tells you what the average lifespan of the common household appliances.
Now lets discuss the most important question.
Let me clear the former first. You have two options, you can either avail an extended warranty for each appliance or you can get a Home Warranty which covers all your appliances. Although, getting extended warranty on each appliance is not a wise decision, the best way out is to get a Home Warranty.It is also suggested that if your appliances are not new and over four years old, getting a Home Warranty will turn out to be highly useful. However, if your home and the appliances you own are reasonably new and still covered by the Manufacturers warranty, you may want to consider taking an extended warranty. You can click here for further details and comparisons between the two.
If you are wondering how this works then here’s the answer. The company offering a Home Warranty plans often sign contracts with vendors offering repair services to appliances. Each time you approach your warranty provider with a claim, they call up these repair facilities which in turn sends a technician to evaluate the condition of your appliance.He shall decide if your appliance needs to be repaired or replaced.Service charges(deductible fee) of the technician shall be paid by you and it is always nominal.
If you have read so far, then it would mean that you are genuinely interested to know as much as possible about Home Warranty plans. Few hiccups that you may encounter are as follows:
It is again stressed that you read your contract carefully and have it looked over multiple times , paying immense attention to the monetary factors.
Despite the issues that were mentioned, it is advised that you insure your appliances by availing a Home Warranty Plan. Costs incurred during repairs and replacements can be considerably reduced if you have a sound Appliance Protection plan. Also, if you choose to sell your home while the Home Warranty plan is still valid, the value of the property is likely to be higher than when it is sold without a Home Warranty. Most buyers recommend strongly in favor of Home Warranty plans. You are likely to do the same if your choice of home warranty provider is good.
Here is the summary of benefits you shall have if you avail a Home Warranty Plan
May it be reminded again that reading the contract well is of utmost importance. You can get a free estimate on home warranty from top rated companies on our website before you purchase the plan.
Builder’s warranty is a written statement by the builder assuring that the house was completed as per a stipulated set of standards. This provides a form of protection to buyer from latent defects.
This form of warranty is also called a Limited warranty and is issued by the builder on their work. This is done either within the sales contract or as a separate document. The period of duration of such contracts are usually between one to ten years.
A Typical Builder’s warranty covers only the material and workmanship issues of various components relating to a new building. This includes
As mentioned before, the duration is largely dependent on the component. For example, material and workmanship issues are covered for a year. This would include paint, drywall, siding and stucco, door and trim etc. HVAC, plumbing and electrical units are usually covered for two years. Major structural defects like a roof that may collapse or any other structural damage that pose danger to the residents are covered for a period of up to ten years.
These warranties do not cover the cost incurred by the owners as a direct consequence of material and workmanship issues. Eg, staying away or moving out temporarily while a repair is being conducted. They also DO NOT cover the following:
If you wish to make a claim for your repair, first and foremost, refer to your warranty contract to ensure that the damage is indeed a covered one. If so, place a request to the builder informing them about the damage and requesting for a repair. It is recommended that you place this request in writing even if the company has a telephonic submission method. Ask for receipts and keep records of all correspondence. These records will help you if a dispute arises.
The builder’s warranty cannot replace the Homeowner’s Insurance or Home Appliance Warranty. All three are very different and have their own unique features.
For your own safety, it is suggested that you ask the following questions about your warranty.
The laws related to enforcing these warranties vary in each state. Therefore it will be a wise step to check with your State’s attorney general’s office or contractor licensing board to ensure that your builder follows all the laws as required by the state law.
Make sure that the contract is thoroughly studied and preserved. Experts say that the longer the contract, lesser the benefits. Such long contracts indicate inefficient builders who use vague clauses to narrow down the possibility of you succeeding in filing a claim. Shorter the contract, better the builder.
You may be asked to sign a “Warranty document” at the time of closing the sales. This is often a way to impose more rules on you and thereby narrow down your chances of making a claim on your warranty. If you have already agreed to sign such a document on your sales contract, you can’t do much about it. But if you have not consented to any such thing, you can and you should refuse signing this.
Towards the end of the duration of your contract, get your home inspected by a professional home inspector. This will help you make the best out of your warranty.
We stated earlier that the builder’s warranty cannot be used to replace a home warranty. Although both these plans cover home and it’s components, they are poles apart on certain matters.
You can also read about Differences between Homeowner’s insurance and Home Warranty.
The builder’s warranty is always a good way to ensure that you won’t have to pay for any repairs caused due to faulty or badly constructed structures. Always remember to clear all questions you have prior to signing the contract. Once signed, preserve the contract and other documents carefully. Should you ever feel that the service you received is not up to your expectation, spread the word. You can visit websites like ours to read about warranties and other topics related to owning a home. Cheers!
Gardening is a pleasurable activity! Starting a new garden is truly thrilling but before you go for it, first decide where the garden should be and what you want to grow. Setting up ahead for your garden is very important as it will save time and money.
The price of everything is going up these days and you are likely for some ways to save money. A vegetable garden is a great start in doing that. A United States Department of Agriculture (USDA) study recommends that one tomato seed can grow as much as $50 worth of tomatoes!
If your path of option to savings is a vegetable garden and you are new to gardening or have little experience, then you have come to the correct place. When you are just getting started, gardening can be scary. How do you even know where to start? Here are some basic tips that can make vegetable gardening more fun, more productive and certainly help you produce fresh veggies, fruits and herbs.
If you are all set to think about a vegetable garden, keep in mind this—it’s better to be proud of a small garden than to be bothered by a big one!
One of the frequent errors for beginners is planting too much too soon and way more than anybody could eat or want. Unless you want to have zucchini taking up residence in your attic, plan carefully. Start small. To know more about this check out Home And Garden guide.
The answers to these queries will help you with your garden planning and it’s important to know these things before you start digging in.
Beginning gardeners can take the chance to learn about gardening and different plants to raise. When you get pleasure from your first harvest, you will feel a sense of delight knowing that the plants you lovingly cared for produced so well. Whether you pick flower gardening or a vegetable garden, you can perfect your gardening methods year after year and get even better outcomes.
Identify which types of plants do well in your area. Planting perennials and annuals in the same garden generate flowers during most of the year. To learn about the plants that will flourish in your area, visit local nurseries and home-improvement stores that sell them. Many of them have gardeners to assist you make the right alternatives.
The best tool a beginner gardener can purchase is a pair of garden gloves. This will protect your hands with painful blisters caused from the friction of the garden tool handles against your skin. Other tools you will require are a rake, hoe, shovel, hose, clippers and sprinkler. In case you are planning to have a large garden, think about a tiller or a tractor. If you don’t want to procure one, rent one or hire someone to cultivate your garden.
Sketch your garden before trying to actually start it. An experienced gardener or your local nursery can help you, or do study online to help you get started. Knowing which plants or flowers attract butterflies and bees may be useful. Keep in mind that tall plants block the sun from smaller plants until they are tactically placed. Inquire about beneficial insects and herbs as a means of pest control in the garden. Know which area of your property is best suited for the types of plants you want.
Careful preparation of soil is essential for a healthy garden. Take out all rocks from the area with a rake, and decide which nutrients are needed. Prior to planting, remove weeds and grass and fertilize with chemical fertilizer or manure. Have pine straw, wood chips or hay bales ready for mulching. Once you have ended preparing the soil, it’s planting time.
Don’t jump in too fast; begin with a few varieties of vegetables or flowers. Pick healthy looking plants with no traces of disease. The plants will be labeled with directions regarding water & light requirements, planting depth—follow the instructions closely. Don’t plant ahead of time in the spring to lessen the chances of losing your garden to snow or frost. Consider the size requirements of your plants.
Water your garden properly. Normally, you must water the plants daily the first week, every other day for the second week, and at least once a week after that, enabling a strong toot system to be established. Be cautious not to over water.
Lastly, begin small start with plants that are easy to grow. This way you will avoid situations where the joy of your new hobby is substituted by frustration. Most prominently, relax! There will be successes and failures, but half the fun of gardening is learning as you grow!
Who does not want to own a home? In fact, the sooner, the better! But with the ongoing inflation and increased property prices, buying your own home seems like a far-fetched dream. But owning a home has benefits of its own. From creating a space that defines you to re-doing the interiors without worrying about the landlord. Or be it having privacy, the perks of having your own home are endless.
The increased mortgage interests and the guarantee requirements have also made it difficult to find your own abode. But there are ways can help you earn more, save better and realize your dream sooner than before.
People love to own a big home that’s cozy and have ample space for all their belongings. It becomes difficult to carry things from one place to another while staying in a rented apartment. With your own home, you have the luxury to set your dream closet and fill in the place with the most drool-worthy ideas. Buying a home forms a big part of the great American dream and we tell you ways that can help you realize the same.
We all know that the home of our dreams may take us a little too long to save up for. In such a case, investing in smaller properties and then benefitting on the increased values will not only give you a huge profit but also help you pay a bigger sum as down-payment and hence avail lower mortgage interest rates.
For such a procedure, climbing up the ladder is the way as you cannot expect to buy your dream home right away. Also, there is an added risk of losing money in case the prices drop. So, it is suggested to do your research before investing in such a plan and hire a trusted realtor who genuinely wants to help you achieve your dream.
There are several schemes available in the market that offers added benefits to first-time buyers. These schemes can be backed by banks or the government. Thus, it is important to stay updated of all the available and upcoming schemes in the real-estate market.
Housing schemes by US department of Housing and Urban development could not only offer you lower interest rates but also have the benefit of being a first-time home buyer by offering perks on the down-payment.
There is no easier way to pave your way to your home than saving up each penny possible. It may require a lot of effort and sacrifice but once you are able to book your own home, it will be all worth it.
Giving up on expensive clothing, dinners and parties could be an effective way to kick-start the savings. Renting a home and investing in a car that actually meets your requirement to save a little more is sensible. Finally, investing in gadgets and other valuables that depreciate in value should be avoided to achieve your goals. Enrolling in a trusted home warranty plan will also help you save on regular expenses like repair & maintenance of home and appliances.
Buying a property in collaboration with a friend or a family member and paying off the debt is a good idea to avoid the hike in prices. Buying a home today will shield you from the future increase of pricing. This gives you a sense of deep relief as you know that you handled the loan mortgage terms efficiently.
However, the terms should be clearly discussed and mentioned in the contract to avoid any future disagreement.
This is another effective method to own a home early. In this scenario, you rent a place on lease basis from a homeowner until you find yourself capable enough of making the down payment and can finally transfer the ownership to your name. The same can be mentioned in an agreement detailing the terms & conditions of acquiring the home on a future date.
This way, you will be living in your future home right from the beginning and will have flexibility in terms of renovation and changes in the home. Also, home warranty plans can help you save on those extra expenses by covering it for you.
The family is always here to help us out no matter what. Therefore, seeking a helping hand from parents or siblings who have saved enough is likely to be the best resort to buying a new home for first-time owners. This will also prevent you from all the added stress and assure you of no hidden terms & conditions.
You can also pay them back as per your understanding and can lend a helping hand with their needs.
Everyone has a hobby or a favorite job that they excel at. From cooking to playing guitar, it could be anything. Taking up a secondary job can help you cover that extra mile with ease and buy your dream home sooner than expected. Another good thing about this is that you don’t have to learn a new skill and are making extra money with what you already have.
It is not easy to save enough to buy a home. Following these simple methods, you can not only save better but also realize your dream of a perfect home. You can also save money by cutting down on regular expenses like repairing appliances which failed unexpectedly by intelligently shopping for a home warranty plan. It may seem to be difficult but once you start researching, you will only discover new methods to save more every day. You will always win given the advent of the internet and it is the super highway of information.
Most of us consider homeownership as a treasured experience. It is a common dream to own a home someday. While the experience is indeed one that gives tremendous joy, it too has a certain not so joyous side. Most common troubles associated with homeownership are usually monetary in nature. Let’s take a look at some of the statistics that are sure to shock you!
For many, the initial days of being a homeowner are filled with happiness and a sense of accomplishment. Once those days pass, the reality sinks in, homeownership is a pricey experience. For those of you who are not aware of the various costs that are associated with homeownership, this article may surprise! We’ve borrowed the results from the U.S. Census Board’s survey that conducted a study to identify the various costs of being a homeowner. Let’s take a look at some such costs
This is a very familiar term. Everyone knows that a house will require maintenance, but does anyone know exactly how much? The Census Board believes that, on average, every home requires annual maintenance costs that is around 1-4% of the home’s value. And this percentage steadily rises as the house ages.
It’s no big secret that appliance repairs/ replacements are expensive affairs. Maintaining them will be hard on your budget if you don’t have any form of protection or service contract for that. As per the studies, home maintenance makes for the biggest chunk of expense any homeowner is bound to encounter.
Research revealed that on an average a $200,000 home will require at least $2,000 in repairs and general maintenance expenses alone. Average appliance repair costs alone range between $100 to $350 in a year. This is precisely why home warranty plans were invented. Such plans cost only around $200-$600 a year and they will provide you with discounted repairs/replacements, which in the long run would help you save thousands of dollars!
This too should be a familiar term. The Census Board says that between the years 2007-2011, around 60% of the counties in U.S. reported the average property tax to be somewhere around $500 – $1,500. Here’s a fact to shock the living daylights out of you, the average annual property tax in Westchester county, NY was $9,647. Worried?
Now this one must not have crossed your mind. Almost all homes in U.S. are equipped in heating and cooling units. As per surveys, home’s using electricity for heating will spend $900, homes using propane $1,666 and homes using heating oil will spend $2,400 on average heating costs.
Cooling thankfully runs on electricity alone and research suggests that on average a home incurs around $300 annually by using air conditioning systems.
Yet another one that makes up for one big chunk of money. HVAC repairs, on average cost around $400 a year. Furnace repairs sometimes cost upto $800 a year. At least for the sake of avoiding such expenses for HVAC units, we recommend that you purchase a home warranty plan. $300 a year for a host of appliances is better than $800 a year for one unit. Is it not?
Sadly this list does not cover all the expenses that a homeowner has to meet, it lists only the main ones. We strongly recommend our readers to go through the various benefits of home warranty and to purchase one if your home and its contents are 4+ years old. You can even use our website to obtain a free quote and to take a look at top 10 home warranty companies.
Our readers are encouraged to approach us should they have any concerns or queries. We hope you enjoyed reading this article. Do come back for more. Cheers!
Life throws many unforeseen things at all of us. As we can’t stop these things from happening, we can choose to give our lives a bit of protection. Insurance is meant to grant us some measure of financial protection, when a disaster occurs. There is plethora of insurance options available and it is suggested by many financial experts to have these insurance policies in place. Yet, with so many choices, it can be difficult to decide what kind of insurance you need to get.
Buying the right insurance is always decided based on your specific situation. There are however, four insurances that are suggested by most financial experts namely life, health, auto and long-term disability. Each of these covers up a definite feature of your life and is vital to your financial future.
The greatest aspect in having life insurance is providing for those who depart. This is really important when your family is dependent on your salary. Experts recommend that life insurance policy should cover “ten times your yearly income”. This amount would give a sufficient amount of money to cover funeral expenses, existing expenses and provide your family a financial cushion which will assist them re-group after your demise.
When estimating the amount of life insurance coverage you want, keep in mind to factor in not only funeral expenses, but also mortgage payments and living expenses such as credit cards, taxes, loans, child care and future college costs.
Life insurance is something that will be required by everybody at some point. Unless you work in the insurance industry or are familiar to somebody that does, what do you really know about the life insurance types that are accessible to you? The answer to that question probably is ‘not a lot’, and why you be supposed to?
Many of us think that there is a common life policy for insurance that everybody procures but this is actually not the case and there is a variety of life insurance that can be bought. Each of the types has its own precise features and benefits that may be of concern to the consumers.
Below is the brief explanation as to what these different kinds of life insurance are in order that you can be familiar with the difference between them.
Life insurance comes in several sizes and shapes, but they generally fall into two categories namely Term Life Insurance and Permanent Life Insurance.
This is the most affordable life insurance and coverage in this type is bought for a definite price for a specific period of time. After the demise of the insured, the recipient will receive the death benefit. It makes the death benefit longer only for a definite period and if the insured doesn’t die within the term of the policy, he gets nothing in return.
This kind of life insurance makes logic if you have monetary needs that will reduce over time, such as a child’s tuition or a home mortgage.
Types of Term Life Insurance
Permanent life insurance by definition is a policy that provides lifelong protection. The policy never ends as long as the premiums are paid. In addition, this type of policy provides a savings element that builds cash value over a long period of time.
Types of Permanent Life Insurance
Once you know the type of protection applicable to you and would like to procure, you can get online rates for the policy you wish. With the help of online life insurance quotes, you are able to examine and compare insurance quotes from various insurance companies.
Posted in – HSA Home Warranty
2 service/repair issues the first year in my 13 year old home in Las Vegas, Nevada (water heater & refrigerator not cold). $55 deductible.
Customer service – contact w/HSA through their website. Not much to report on that.
Timeliness – HSA responded Monday morning when water heater broke on Sunday morning… HSA responded 3 hours after refrigerator service call made (weekday).
Repairs – Replaced water heater 2 days later after technician visit. Had to pay $325+deductible for items not covered under warranty… Refrigerator repaired same day.
Overall – only complaint was that service company had to reschedule service for refrigerator repair (1 day). I plan on renewing w/HSA. HSA is good in the Las Vegas area. (warranty companies are only as good as the service companies they use)
(I noticed the complaints about HSA as well as all the other warranty companies. I work in the a/c service industry and run into the same complaints found on this message board. Problem is that people do not read the contract throughly and thus the complaints. You have to have service done on appliances, like your a/c, pool, heater. Items over 10 yrs old will have to be replaced because of technological innovations and the discontinuation of parts for the old units. i.e. you can’t expect a car over 10 yrs old to run well if you don’t service it, plus the older it is, the harder and more $$$ the part would be.)
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HSA home warranty ratings
Home warranty assists you with repairing household appliances and equipment. Home protection plan can support someone who has exhausted their savings on buying a home or to the home owner who can lead a stress free life on not worrying about any appliances that might go wrong.
Home warranty covers repair expenses of all major appliances included in the warranty such as refrigerators, heaters, air conditioners, plumbing system etc. Such warranties supply you with professional service providers to complete the repair or replacement work. You can call for repair service 24 hours a day, 7 days a week 375 days a year at your convenience.
Basic home appliance warranty plan would cover home appliances like refrigerator, washer/dryer, bathtub, plumbing systems, electrical systems, ceiling fans, water heaters and garage door opener etc. If any such appliance goes wrong, the first thing you need to do is to claim for service from the warranty company. The home warranty company does not employ repairmen or servicemen to repair the appliances, but company has the contract with various service providers. It is very essential to know before signing the warranty contract, whether the company is tied up with service provider of your area.
Once you have decided on a home warranty. You may pay the annual premium either in one lump sum or the same could be broken down into quarterly or monthly payments. In case if any appliances break down, you are supposed to pay the service charge and the service charge will be pre-fixed usually between 30 to 100 dollars. Repair cost will be guaranteed by the premium amount paid.
Warranty covered for newly built house is generally backed up with limited coverage on servicing and materials relating to various components of the home, such as windows, heating, ventilation and air conditioning, plumbing, and electrical systems for specific periods.
Home Warranty also covers the minor issues which may arise in new constructions like leaky pipes and electrical problems etc. It may also cover the cost of maintenance and repair charges. It also assists you when you have nearly exhausted your savings by purchasing new house. All the maintenance and servicing will be taken care by warranty company, hence consider home warranty as an essential purchase.
Most home warranty service companies do not limit the number of service requests. Whereas the company may limit the amount to be paid on any appliances. Some warranty companies provide cash payment option in which the company pays the nominal amount on any non-working appliance to replace it. It is very essential to review the service contract to know about such limitations.
Of course yes, most of the times, home warranty companies offer to transfer the warranty to the buyer. Some companies may also allow the buyer to change or upgrade the warranty at a very low-cost transfer fee.
Home warranties really are a wonderful back-up to have. Get yourself covered with a home warranty protection plan that suits you best and avoid the hassles of expensive repair and replacement of home appliances and home systems.
As a landlord, legal responsibility is a bigger issue for you. You need to guard yourself against the losses that can potentially crop up to your properties and in general financial health. What if your occupant is hurt on the rental possessions? You want to be sure that if you are prosecuted, you have the adequate insurance to lend you a hand.
As a landlord, you should guard your income stream and that’s your rental income. If the structure is adequately spoiled then it is not possible for the renter to dwell in your property, so you require a protection to your rental income so as to meet your obligations, together with the mortgage on the property, if any. This is where you have to reflect carefully on what your exact needs are and purchase the right coverage.
Take heart! While it may sound scary, insurers have previously designed policies for the landlord’s requirements. Always remember that there will be a dissimilarity in these policies, so you will have to verify the fine print and choose the one that suits your situation. By shopping around, you will get a better idea of what is obtainable in coverage and at what price.
There are some forms of insurance you can take to make your life simpler and less of a burden. Here is a list of essential insurances that a landlord must have:
Landlords most likely take issue with this one, as it appears to take money out of their pockets-especially those with the ability to do repair work themselves. However, you can draw a better class of tenant if they recognize that there’s a warranty in place. (i.e., they won’t have to hunt you down and request you to come by to make repairs). Besides, it will free you up to truly manage your belongings as an owner rather than just a handyman. To end with, a home warranty policy will pay for itself with one or two repairs.
To get an estimate of home warranty costs for your rental properties, visit our home warranty price quote section
If you possess a home then you likely know the significance of ensuring that it is properly protected. Having the correct insurance for your property is a good step towards making sure that you have the guard you require. Landlord house insurance is essential for anyone who possesses a home. The key to home insurance policies is ensuring that you receive the best price for your insurance.
Below is a list of ways by which you can decrease the rate of your insurance policy.
Many landlords believe that they do not require any insurance for the contents in their buildings. They hold the impression that these contents are taken care of by the building insurance they procured. However, that is not the actual case. To get the contents covered, they will have to spend extra in landlords’ contents insurance. Some landlords even feel that the contents will be covered by any insurance policy the tenant holds. But the actual fact is that the policies bought by the tenants will only cover possessions of the tenants and not that of the landlord.
If the landlords truly worry about the contents for which they put in a huge amount of money, they must procure landlords contents insurance. In this way, they can expect to get some reimbursement for the items in case they are damaged. Having no insurance for these items will leave them totally destructed if they face any incident causing damages.
It’s called “umbrella insurance as it is intended to give liability protection beyond when the liability on other policies has been exhausted. Depending on the insurance company, you can obtain an umbrella policy with an extra one to five million in liability protection.
Umbrella Insurance gives an added layer of liability coverage. It’s isn’t just for rich and famous. Whether it’s an incident on your policy or a serious auto accident concerning costly medical bills, you can find yourself liable for damages that exceed the limits on your homeowners, auto or boat policies. A pricey judgment is the last thing you want to be anxious about.
Landlords habitually handle different types of policies, but one of the most significant and frequently unnoticed types of insurance is the umbrella insurance policy.
Consider these factors if you are not sure if you would benefit from procuring umbrella insurance or not.
Taking no notice of these insurance policies is not recommended anytime. The consequence of such ignorance could lead to serious losses that will be hard to recover. On the contrary, landlords are strongly suggested to make an investment in such policies that will save them a lot of money in case of any accidents.
This is an Article published for the Benefit of Homeowners reading our Articles regularly so that one can walk the path of sustainable energy!
There’s no denying that the onset of new, improved and environment-friendly trends is putting a damper on companies that have been functioning for centuries without much regard for the environment. Having to reestablish their production methods, use of materials and waste disposal strategies, manufacturing units being shut down as alterations are not viable to their manufacturing and market costs. The drive towards a green economy is constantly being resisted by a large section of multinational companies around the world.
Besides alterations in production strategies, the other game changer has been utility companies and their slow but hopefully steady replacement with solar and green energy demands from consumers. As the demand for solar energy in residences begins to increase, the traditional utility industry will take a hit not only in its retails sales and day to day transactions but also in terms of an overall loss of customer base. Eventually, the industry could even become obsolete, but that’s a discussion for later.
The main trade association and executives of the utility industry have seen the onset of this impending threat, and have been calling for meetings and conferences. Using these to reach out to the electricity providers for support, utility companies have been playing a part in keeping door-to-door solar power insurgency at bay.
Electric and fossil fuel monopolies are right to feel the threat though, as even the individual state governments and metering laws are creating rules and instructional loopholes to encourage home solar paneling. States such as Wisconsin and Arizona, amongst others, have imposed net metering as a system of electricity billing. Through net metering, a customer who is using solar energy at home gains monthly credit for the surplus power that they produce and provide to the electricity grid of that region. Even though a small amount is to be paid additionally if net metering is voted in your state, know that your electricity bill as a solar energy consumer will be considerably lowered; enough to offset the cost of installing solar panels at the first place– hiking prices. Though it may seem that the shift is absolute, even solar energy consumers are relying on the run of the mill electricity grid during overcast winters and nighttime. A marginal reduction in daily usage is not causing any cuts in maintenance, investment capital for transmission lines, and upkeep of the grid.
The debate of Solar Vs Utility still remains as two sides of a coin, with solar having on its side the bigger picture of a future green economy. Studies being conducted in individual states are most often steering towards the advent of solar as a domestic energy source causing harm to the economic balance, with an immediate counter response from environmental lobbyists. The claim is straightforward – the clean energy lobby argues that the traditional and fossil fuel powers are rigging the results and focusing on only negatives. Louisiana is one such state, where studies showed a transferal of over two million dollars to be shouldered by non-solar consumers due to the utility sales drop.
On a positive note that looks at aspects besides those that are environmental, research in states such a Mississippi and Nevada see solar as the way to go. From being able to bear the brunt of excess demand during summer months, produce almost twice as many jobs and be in tandem with the greenhouse emission laws, solar comes out the winner. The whopping two million that are being employed are also seen to have working conditions far better than the coal miners.
The problem when it comes to the utility industry’s sustenance is twofold. The first is to address the price hike which is inevitable when the demand drops, not to mention the possible compensation for individuals who are using solar to reduce the stress on the electrical grids.
The second is how utility power hubs will re-align their structure to accommodate for this shift, and think of ways to meet the clean energy drive halfway. Unfortunately, there is no way to tackle the second without fixing the war that is being fought over the first.
The majority of traditional electricity power plants that cater to individual households and residential areas in the US are investor owned. These have a much greater role to play when it comes to vetoing the solar power takeover. Investor-owned power plants function in four simple steps. First, they get an estimate of the power demand of a given area and consequently calculate the monetary estimate required to fulfill the quota. This money is then looked at from the separate perspectives of the consumer and the investor. The rate per unit of electricity is calculated, looking at not only the demand of the consumer but at the incentive for investors to look their way by offering them a favorable return rate.
This system is foolproof, until the point that they are faced with a competitor – solar power. Solar energy users continue to use the grid that has been set up, as well as the utilities other services. This is where the true problem lies – even the basal costs of the utility sector are now being borne by those that are opting for traditional sources. Net metering is allowing solar power users to practically zero out their bills if they meet their own monthly requirement for electricity, a law that utility companies are fighting in states such as Texas and California, focusing on its lack of sustainability.
While the arguments utility companies pose do have their credibility theoretically, in the real world it is rather clear that the incentive is still driven by their fear of revenue drops. When the investment for electrical systems shifts from the hands of shareholders to individual households, the concept of rates in terms of return to the investor is moot.
Customers who once had no option but to rely on Investor-Owned Utility companies now have the option of taking their domestic electrical needs into their own hands. Naturally, this lack of dependency translates into a very direct drop in utility companies yearly profits.
When a utility company complaints about the potential rate increase for the traditional energy source users, and fixates their argument on the fact that solar users do not pay for servicing and maintenance, a new argument is thrown into the mix. Is the demand that the utility companies are projecting really accurate anymore?
Solar lobbies state that the rate of maintenance, expansion and employee increase that utility companies are projecting is unrealistic. The fact is, widespread use of green energy resources will only reduce the load on the electrical grid, hence reducing the need for regular fixing. Utility grids are not taking this into account, instead of using an inflated demand rate to rope in a greater number of investors, and possibly hiking rates of monthly unit usage in order to meet their return rate.
The other statement of fact that solar advocates are backing is the fact that a utility-based electrical grid system never produces solely based on demand, hence pointing to the fact that the rate of electrical units is not actual anyhow. Experts say that if rooftop solar panels were distributed and installed, then just the reduce in demand would handle issues related to loading increase and be a much better management of resources for all involved.
All said and done, though the Solar versus Utility debate has its subjective points of view, not to mention numerous pros and cons on either side, the reality remains the same. The need for green energy is a necessity for sustenance on a global scale, and yet the twenty-first century is straddled between the traditional resources and those that are now deemed clean.
A time of transition in all ways possible, certain existential questions cannot be ignored. How are the economically backward supposed to sustain if traditional power grids cease to function stably? Alternatively, if solar resources are negated and shut down then will the global economy, fossil fuel depletion and environment be really able to survive?
Though the deliberation is on, individual states are beginning to look for solutions that will tackle both sides, sustainably. Vermont, California and even New York are beginning to approach the utility sector as a large power bank of service, instead of just a source of electricity. This may alter the relationship between solar grids and utility grids, allowing them to cross paths without having to lose either form of resource.
States like Arizona are proof that the present model of a utility power structure is not functional anymore, and they are bound to see a decline in revenue and balanced functionality if they continue to look at solar distribution as the villain. There is a theory that the only way to force the utility companies and government’s hand to address the reality of the issue is to block out subsidies, asking the question of how sustainable and affordable power can be distributed in such a situation.
Maintaining everything in the home is one of the major concerns homeowners have to deal with. Every homeowner worth his salt will tell you that the primary expenses incurred in the process of home maintenance are due to appliance and system faults.
Having said that, we’re sure that everyone has heard of Appliance / Home maintenance plans or simply put, home warranty plans. Such plans are contracts that agree to provide you with discounted repairs and replacement services for household appliances and systems. Do keep in mind that such plans are for ageing appliances that have suffered quite a bit of wear and tear over the years. Appliance warranties only cover damages that are due to age, wear and tear.
The working of such plans are quite simple. You purchase the warranty from a home service provider for a specific duration. During the coverage period, if your appliances / systems breaks down, you only need to call the your warranty provider. They will send a technician to fix your faulty item at just a nominal service charge fee. The actual cost of repairs will be borne by the company.
Hence, in many ways, a warranty is a wise way to protect your budget from unexpected expenses. To know more about home service contracts, read things to know about home warranty. You’ll find that helpful.
Now, coming to the actual problem that this article addresses, cost of home maintenance plans. In general such appliance warranties are affordable and reasonably priced. Most companies offer a specific set of plans from which you can choose, based on your requirements.
The annual premiums for a home service contract ranges between $200 – $ 600, for a home under 5,000 sq.ft. When you purchase a plan, you will be provided with a policy booklet that explicitly specifies all the items that will be covered. You will also be provided with information about various other terms and conditions. Like we said before, home service contracts do not cover damages due to anything other than age and regular use. For faults due to crime, hazards and other perils, you may want to check the difference between home insurance and home warranty.
In addition to the annual premium, you may also have to pay a nominal fee as the deductible each time you raise an issue. Deductibles usually cost between $50 – $100. There are some companies that offer zero deductible appliance protection plans
Like we discussed before, different providers charge different amounts for their plans. Following are the facts that decide the cost of home warranty.
If you want to purchase a home warranty plan, we suggest that you get your home inspected first. While some companies offer this service prior to the contract being signed, some companies do not. A home inspection reveals a lot of potential problems that your house may face and the inspector may even recommend a plan to make the best out of home warranty.
If you are still unsure about home warranty, we suggest that you go through our web site and read some informative articles that may help you solve some confusion. That said, we still think that a home warranty is a clever way to protect your appliances and save cash in the process. Cheers!
The Illinois department of insurance issued a warning earlier this year to its residents to avoid a Florida based home warranty company Arkidus Home Protection, Inc. Arkidus had been unlawfully advertising home warranty services via the internet to residents of Illinois and in many cases there were documented incidents of these consumers who purchased a warranty not receiving the services promised to them.
The company and its owner, Reinaldo “Ray” Berges has previously been served with a cease and desist order by the Illinois Department of insurance, but continued offering service coverage for household appliances and major system components. The company had its headquarters in Miami though more recent reports suggest that office has been closed for many months.
The company has not been granted any certificate of authority to sell insurance or home warranties to the consumers in the state of Illinois, thus the cease and desist order from that state was issued. This unfortunately may not help recover the money lost by the Illinois consumers who purchased home warranties, also referred to as residential service contracts or home service contracts.
According to the Better Business Bureau (BBB), The consumers have launched over 245 complaints against the company in last three years. BBB indicates in its report that Arkidus conducted its business through a website, www.theahp.net.
BBB is a non- profit organization more than a 100 years old functioning in U.S and Canada. It collects and provides free business reliability reviews on over 4 million businesses. The BBB plays the role of an intermediary between businesses and consumers. Though it is not mandatory for any firm to get accreditation from BBB such accreditation is sought by some companies in order to build faith in their business. Arkidus is not accredited by BBB and thus the amount of involvement BBB may have had with Arkidus’s customers would have been limited to collecting and documenting complaints and then reporting complaints to the company. For further recourse consumers who have complaints against Arkidus would likely need legal representation or assistance from consumer protection entities.
According to publicly available information Illinois’s Department of insurance has also received many complaints from customers of Arkidus who allege they have been tricked by that company and were unable to obtain reimbursements for their claims or their canceled contracts.
The complaints from consumers are also publicly available on various websites. One such complaint posted online was from Jose. E who is a resident of Florida. In his post he said, “This Company is a scam. I started service with them in May, and they will not honor their policy. I keep getting calls from companies that were dispatched by them. I needed a plumber and an electrician, and both have been harassing me with the remainder of their bill, even though I paid my deductible. Do not purchase anything from this company, they are frauds.”
Arkidus appears to have ceased doing business but for a time the company was successful persuading customers to pay long term contract fees, in some cases for terms of two years or more. These customers spent thousands of dollars in some cases, all of which they now face losing forever. If significant legal action isn’t taken against the owner of the company it is unlikely that consumers will receive any reimbursement and this whole story will end sadly. Hence we warn our readers to be cautious about choosing home warranty companies with very little business history, no matter how positive the early reviews of the company may be.
If you suspect you are dealing with the wrong people already or believe you too have been scammed do not delay making a formal report to the appropriate agency or agencies. Both at the state and national level in the U.S. there are free and fast ways to make your voice heard when you feel you’ve been misled by a business or been the victim of a scam. The important thing is to act quickly and not give up if you feel your complaint is being documented but not being acted upon.
Life is certainly unpredictable, you cannot control the outcome but surely can prepare yourself through careful planning and minimize the risk and be on the safer side. Insurance is one such protection mechanism which covers major expenses with an understanding that you will pay a smaller fee as a premium.
An insurance is a contract in which an individual receives financial protection or reimbursement against losses from an insurance company against the payment of a premium.
We have an inherent need to protect ourselves and our family, so why not buy insurance and secure the unknown future. According to needs you have various insurances. Some are a must while others are worth. Here is a quick tour into the world of insurance policies.
As the term suggests you are insuring your life with a certain amount. It is an insurance that pays out a sum of money either on the unfortunate death of the insured person or after a set period.
It is a type of insurance coverage that pays for medical and surgical expenses that are incurred by the insurer. Health insurance can either reimburse the insured for expenses incurred for illnesses or injury or pay the care provider directly.
It is an insurance for all your automobiles against theft and accidents.
A home warranty is a contract for repair and replacement of major home appliances such as refrigerator, washing machine, garbage disposal etc. on payment of a premium.
This insurance covers the home including the structural elements as well as the valuables inside the home. However, you can claim this insurance only where there is a natural disaster such as flood, fire etc. Please note that this does not cover the appliance repair and replacement costs.
Often Home warranty and insurance are thought to be similar but they are completely different in the coverage they provide. Home insurance is a must to have whereas home warranty you can choose to get.
When it comes to insurances you have a plethora of options to choose. From travel insurance to disability insurance etc, you can choose and plan according to your needs. All insurances have advantages and disadvantages but insurance no matter which protects your peace of mind. While buying insurance always make sure to do a background check of companies you are dealing with and read the reviews and fine print thoroughly.
Click here to check for Home Insurance and warranty companies.
Future is unpredictable yet securable therefore get insured stay assured.
This infographic depicts the most basic definition of what a Home Warranty is all about. Although the title says that it is for dummies, we’re sure that even people with average/ above average intelligence can keep up!
Now, an appliance warranty is a form of protection your purchase for your household appliances and systems. It is a contract that offers to provide you discounted repair and replacement services should your device sustain any damages.
As you can see in the infographic, all major systems and appliances are covered. Now that would include refrigerator, built in ovens and microwaves, washer/ dryer, HVAC units and major systems like plumbing and electrical units. Additional coverage can always be purchased, so you can rest assured that all your devices can be protected!
This is how it works. When your covered device gets damaged, you simply place a call to the warranty company explaining your situation. If the damage is not an excluded one, your claim will be taken up. The warranty company then sends a technician to your home to fix the damage.
Let’s discuss the claims part. Like we said, when you notice a damage, all you need to do is inform the warranty company about it. Did you notice that title saying “Common reasons for claim denials”? Yes it is true. Although this does not happen often, it is still noticed that companies often deny claims. The grounds for claim denial varies from company to company and can be understood only after you go through their policy booklet.
However, common reasons for denial are as follows
Don’t worry too much about it. If you choose a reputable company, chances are low that your claims will be unjustly denied.
Moving on, let’s discuss the premiums and deductibles involved. As the image says, the annual premium for most basic warranty plans are somewhere in the range of $250- $500. This can vary depending on the extent of coverage. Larger the coverage, higher the premium.
Each time you raise an issue, you will be expected to pay a deductible/ service call fee (it’s nominal, around $50). The happy news is that there are some companies offering plans at zero deductible.
So there! That’s what the infographic is all about. Isn’t it an awesome image? Cheers!
Purchasing your home was likely the single largest investment that you ever made… and not just monetarily. Homeownership is an emotional investment as well. You care for your home, pouring your heart into maintaining and improving it. Your home is where you watch children grow, create lasting memories, cry a few tears—some happy and some sad—and watch as the seasons of life change.
So, with all that you’ve poured into your home, you deserve to maximize the return on your investment when it comes time to sell. Including a home warranty in the transaction helps protect your investment— monetarily and emotionally—and may even help attract better offers.
A home warranty helps defray the unexpected costs associated with repairing or replacing a home’s major systems and appliances should they malfunction due to normal wear and use. For the home seller, coverage remains in effect while the home is on the market (up to 180 days in most cases). For the buyer, coverage usually goes into effect at close of sale and lasts for up to one year.
Home warranties cover your home’s major systems and appliances when they fail due to normal wear and use. This includes:
Since we all know things happen at the least opportune time, home sellers may avoid Murphy’s Law by purchasing a home warranty. If your water heater springs a leak while your home is on the market, paying the full cost of a repair can erode potential profits from the sale of your home and possibly delay closing until repairs are complete.
With a home warranty plan, home sellers get immediate protection, as coverage takes effect the day your agent submits the application. This is important, as it means there are no delays or waiting periods before you can make a service request, further saving your precious time and resources.
On top of the budget protection home warranties provide, home sellers benefit from access to a network of qualified contractors and the peace of mind that comes with knowing help is just a phone call away (you can even request service online!). Perhaps most important is a greater return on your investment, as your home may sell faster and at a higher price.
No matter how well you maintain your home, potential buyers are taking a perceived risk. The older your home (and its systems and appliances), the greater the risk in their eyes. You can offset the perceived risk by offering a home warranty with the home sale. In many cases, a home warranty could prove to be the differentiating factor for some buyers, giving them enough confidence to increase their offer and more aggressively pursue your home.
In addition, the home warranty continues protecting you beyond the close of sale. One of the last things you want is an after-sale issue because a covered system or appliance malfunctioned in your old home. If you include a home warranty with the home, the buyer contacts the home warranty provider—not you—to have the malfunction resolved.
There are two distinct coverage periods in a real estate transaction, the seller’s coverage period (when the home is on the market, up to 180 days) and the buyer’s coverage period (after the close of sale, up to 12 months). When you choose to have seller’s coverage, you agree to purchase a home warranty contract for the buyer as well. In most cases, the fees for the home warranty contract are paid through the closing process, meaning there is no out-of-pocket cost to you until the home sells.
Depending on your state, the warranty company either includes coverage for the home seller with the home buyer’s contract or provides the coverage for a small fee (typically $60 to $75) in addition to the cost of the home buyer’s contract. That’s a small price to pay for tremendous budget protection!
It’s important to note that home warranties do not cover everything. Read your contract carefully to understand how the Plan works. Every home warranty has terms and conditions of coverage that explain what is and is not covered, the conditions under which coverage applies, and any dollar limits that may apply.
Home warranties provide coverage for the items specified in your contract, which are typically limited to the home’s major systems and appliances.
For home buyers, additional optional coverage is available. In some states, items such as air conditioning, kitchen refrigerator, and clothes washer and dryer may be included in the standard plan or available as options for an additional fee. Optional coverage may be available for other non-standard items, including swimming pool and spa equipment, well pump, septic system, ornamental fountain, and more.
Plan upgrades provide additional protection and enhancements to custom fit the individual needs of your home. For example, some companies offer plan upgrades that cover additional costs for permits, cranes required for repairs, modifications, correction of code violations, and a host of other coverage enhancements. Consider the systems and appliances in your home when choosing coverage to ensure you choose adequate protection to meet your needs.
It’s inevitable that a home’s systems and appliances will eventually break down and usually at the least opportune time. A system malfunction could cause unnecessary financial hardship and personal stress when your home is on the market. A home warranty, however, offers affordable budget protection and peace of mind. It may also help sell your home faster while attracting higher offers from confident buyers.
Speak to your agent to learn more and ensure you realize the full value home warranty coverage can provide.
About the Author
This article was prepared by Old Republic Home Warranty, a leading provider of home warranty plans.
An offshoot of Home Warranty, Structural Warranty is a legal agreement between the builder of the home and you – the owner. Structural Warranty functions basically in the case of new homes, wherein the builder assures that the home he has built will have no structural defects for a period of ten years after its construction. His claim is covered by the company which offers him warranty coverage for the building, at times additionally including workmanship and internal systems.
The system functions just like Insurance, but covers defects which may occur due to age and wear and tear, not natural disasters or unforeseen circumstances. Like the Home Warranty covers the items in a home – its appliances, wiring and plumbing systems, interiors etc. – Structural Warranty covers elements like the foundation, girders and beams, roofing, and flooring.
Before the purchase of a home, it is advised for either the new owner, seller or realtor to purchase Home Warranty, in order to establish a relationship of trust and confidence in both parties involved. Just as a Home Warranty leaves the new owner knowing that his home and all that is in it is secure for at least a year after its purchase, Structural Warranty establishes the same sense of security in the buyer of a new home straight from a builder.
It is rather simple – all structural defects are now to be fixed by the company that the Warranty has been purchased from or by the builder offering the warranty himself, and as long as the terms and conditions are met, neither the builder nor the new owner is liable.
We see before our eyes appliances, electrical systems and plumbing leaks occur every once in awhile – but most of the time structural damage is noticeable only after it is too late. Given that large parts of the US are known to have soil that expands with seasonal changes, statistics show that more than 25% of all buildings in the country experience some kind of structural damage during the first decade of their life, almost 10% of this being major and often irreversible.
It isn’t always about how reputable the builder is, in fact, the more reliable the builder the higher the chances are of them investing in warranty for the homes they have built. Years after a deal is signed, sealed and delivered, a matter like soil expansion that is out of the hands of both the parties can spring up, making Structural Warranty the only way to guard against massive expenditure out of your own pocket in the future. Studies show that the warranty is most often claimed 4 to 7 years after a home is built to completion.
The chances of an individual investing a sum as large as the cost of a home in anything else in his or her lifetime is very slim, making this purchase one that could develop complications if not done right. Builder’s offering Structural Warranty for the home they have built can not only assure the buyer of their expertise but also give them a legal document to go back to in case frivolous lawsuits or complaints are lodged. Like in the case of any two-way agreement, responsibilities, terms, and conditions are clearly outlined.
If a third party company is used to establish a warranty, then any complaints, disputes or discussions will be handled by them – until the point of reconciliation. This saves time and discomfort for both parties involved, especially the builder.
If you happen to be a builder with larger holdings or varied properties and houses, then the value of each building is sure to increase if Structural Warranty is added to the mix. Use it as a marketing strategy, one that is true to every word and will help you build lasting relationships with your clients.
Structural Warranty functions according to the guidelines of the Housing and Urban Development department of the US, which stipulates particular criteria within which a company must cover damages. Larger builders may choose to provide their own Structural Warranty schemes to the buyer, while builders without a department to handle such claims or smaller building agencies may choose to use third-party warranty companies. Even more so than Home Warranty claims and structures, Structural Warranty coverage and insurance backing vary drastically from builder to builder and company to company. If you happen to be a part of the decision making of who to choose, make sure you do your research and pick a coverage that is extensive and appropriate to your home.
If you go through a Structural Warranty contract or guide, you will notice one important point – the extremely specific and near legal language used to describe what that particular company or builder covers. Structural Warranty owes this specificity to regulations set by the Housing and Urban Development Department of the US, as well as to the builders’ need to protect themselves from futile claims and lawsuits.
Due to each Structural Warranty being unique (much like Home Warranties state-wise laws), we will get into what the warranty covers in general. Know that this isn’t ironclad, and you have to cross check the terms and conditions with your builder.
As a whole, third-party companies offer two kinds of warranty, one which accounts for any damage to the structure of the building from the moment the deal is closed between the builder and buyer. The second stipulates that the company will only begin to cover damage to the home 3 to 4 years post the sale, implying that any structural damage before then is up to the builder to fix.
Each company usually has a base plan and other additional perks that you can choose to opt for.
The basic coverage usually covers the following:
The last of these, load bearing partitions, are often accompanied by the additional coverage of non-load bearing partitions. These claims are almost purely cosmetic, and certain Structural Warranty companies do assure the fixing of these, keeping in mind the original material integrity of the home.
Integral to any warranty and insurance difference, Structural Warranty doesn’t cover any damage due to natural disaster, accidents or unforeseen circumstances; anything that is covered under insurance, basically.
Lastly, any structures added to the original home – an extension, outhouse and detached garage space for examples – would not be covered. If the need is felt, the builder could then purchase a separate Structural Home Improvement Warranty.
Individual state laws in the US tackle Structural Warranty in different ways, making the cost different in each state as well. On an average, if the basic warranty is purchased, then it shouldn’t cost more than 1% of the purchase cost of the home. In most states which are positioned in low-risk areas (minimal soil expansion, etc.), the price is only about half a percent of the home’s price, whereas in high-risk zones the price can go up to 1.5% to 2%.
When looked at it in terms of a median example, while Structural Warranty would cost anywhere between $500 and $1500 for ten years, the repair in case of structural damage could be between $50,000 and $100,000; Structural Warranty being about one percent of the estimated repair budget.
Home warranties, or home service contracts as they’re more correctly called in Washington and elsewhere in the nation, covers the costs of some repairs that are needed around a house each year. These repairs are often small things, but even small costs add up. And then there’s the time taken away from work and family life to deal with the arrangements for the repairs. So the point of a home service contract is to help save time and money when things around the house stop working properly. But there’s a catch to the whole thing. That catch is the quality and availability of professional contractors to do the work required.
Most established home warranty companies have huge networks of home repair contractors, ones they regularly check for customer satisfaction and overall quality of work. So customers of big home service contract companies can typically count on there being an abundance of good repair contractors in their areas. But this does vary when you consider small towns, states with highly rural populations, or crowded metro areas with more customers per square mile than in suburban or rural areas. With all this under consideration, it pays for home warranty buyers to understand which companies are the top ones in their local areas. In short, it pays to understand the market for qualified contractors before buying a home warranty.
Today we will cover the state of Washington. What’s the home warranty market like for people living in the state of Washington? That’s today’s topic in our top companies series!
Residents of the state of Washington live close to the heart of the U.S. home warranty industry. The western part of the country is home to some of the largest and oldest home warranty companies. And the homeowners out west are typically more knowledgeable about using home warranties too. Between the savvy consumers and the abundance of choices, there is a thriving market for these service contracts for homeowners.
Among the most popular companies in Washington are ones you’ll find in our top ten companies list. But there are also companies such as Fidelity National Home Warranty which fall outside of HomeWarrantyReviews.com’s top ten companies, by our website’s users’ ratings. According to Google, one of the most searched companies in the home warranty space among search engine users in Washington is Fidelity National Home Warranty. And though search volume is not an indication of sales volume it’s still worth noting that we don’t necessarily capture all the data needed to say for sure which companies are selling the most home warranties in individual states. So as you read on, please keep in mind that these top companies are a reflection of what you’ll find in our website’s users’ reviews and company ratings.
According to HomeWarrantyReviews.com’s statistics, ratings and reviews accumulated for many years now, homeowners in the state of Washington overwhelmingly prefer American Home Shield. We reached out to the company for comment after discovering this to be the case.
Mike Clear, VP of Operations at AHS weighed in on what he believes is behind American Home Shield’s success in Washington.
|“Homeowners in Washington expect and deserve outstanding service and value. At American Home Shield, our employees and network of local service contractors proudly provide both, each and every day. When things break down, we solve problems, plain and simple. This means being there when you need us most; making sure you have convenient access to technicians who have the expertise to diagnose and repair covered items; and protecting your budget against unexpected repair costs. We founded the home warranty industry 45 years ago, and no one pays more in servicing claims or protects more customers than American Home Shield.”
AHS is by far the largest company in the industry today. So in some ways it makes sense to see them on nearly every top companies list we publish here on HomeWarrantyReviews.com. But there’s something to keep in mind when you consider that the company that’s the biggest also has the most customers. And that something is customer satisfaction. Though no company keeps every customer happy all the time, AHS has done an extraordinarily good job pleasing its customers who post reviews here on our website. So whether you’re in Washington or elsewhere in the U.S., American Home Shield is one you should probably include in your list when comparing home warranty companies.
Based in Colorado, 2-10 Home Buyers Warranty has been serving American homeowners for almost four decades. Like American Home Shield, 2-10 is one of the top companies in the industry in terms of longevity and number of customers. In addition to providing home service contracts, 2-10 also sells home warranties in the true legal sense, meaning the contract covers defects in the builder’s work or materials.
As one of the original companies in the home warranty industry, 2-10 has a presence across the U.S. and an expansive network of professionals serving its customer’s repair needs.
As part of the Direct Energy family of companies, Home Warranty of America brings its home service contract offering to the western U.S. via its network of regional sales representatives. HWA assists real estate professionals and homeowners with many different scenarios in which coverage of home repairs are important. This includes periods in which a house is listed for sale or has just been purchased, as well as longer periods of time in which an owner of a home would want to offset the costs of repairs due to an unexpected system or appliance breakdowns.
We reached out to them for a comment about their service to Washington residents, and Monica O’Neill, HWA Product Manager, had this to say.
“Home Warranty of America has experienced tremendous growth in recent years and we are very grateful for our loyal customers. We truly enjoy providing reliable solutions and being a home warranty partner to real estate agents and homeowners across the great State of Washington.”
Customers of Home Warranty of America have the security of working with a home service contract provider backed by a big parent company, well known in the energy space. And financial stability is one of two of the most important things to look for in a home warranty provider.
That wraps up our short list of top companies in the state of Washington. Come back here soon for new articles about companies providing home service contracts in other parts of the country.
Readers in Washington, if you have a company you’d like to give a shout out to, please do so in the comments below! If you represent a home warranty company doing good things in Washington, please feel free to mention your company in the comments below as well.