How Much Does A Massachusetts Home Warranty Cost?
Understanding the potential costs involved is essential for Massachusetts homeowners considering a home warranty. Here's a general overview of the cost range for home warranties in the Bay State:
Average Annual Cost
$400 - $600
Average Monthly Cost
$35 - $80
Average Service Fee (Deductible)
$50 - $120
In Massachusetts, the cost of a home warranty can fluctuate based on various factors, and homeowners should take these considerations into account:
- Historic Home Features: The prevalence of older homes in Massachusetts, especially those with older plumbing and electrical systems, can increase the cost of a warranty due to the higher likelihood of repairs.
- Location: Home warranty costs can vary slightly depending on your location within Massachusetts. Areas with a higher cost of living, like Nantucket or Cape Cod, may see slightly higher warranty prices.
- Oil Heat Coverage: Many Massachusetts homes rely on oil heat. Ensure your chosen plan specifically covers oil furnaces or boilers. Oil heat coverage may add to the overall cost compared to state plans, which primarily include gas or electric heating.
- Deductible: The deductible is the out-of-pocket amount before the warranty kicks in. Choosing a higher deductible can lower your monthly premium, but remember the initial cost you'll shoulder for repairs.
- Coverage Level: Plans with broader coverage for appliances and systems naturally cost more than basic plans. Consider what appliances and systems are essential for your comfort and budget in Massachusetts (e.g., prioritizing heating system coverage).
- Optional Add-on Coverage: Some plans offer optional add-on coverage for selected items in some Bay State homes, such as septic systems or well pumps. These add-ons will increase your overall monthly cost.
