When the time comes when you want to take out a warranty on your home, there is a checklist you should have in mind when vetting the warranty companies you may be interested in. Otherwise, how else would you know whether a particular home warranties company is or isn’t a good fit for you?
1. Do you trust the company?
In the end, you want to work with people you trust so you should consider whether or not you trust that particular company. How long have they been in business? A company with a solid period of operation (say 15 years), is much more experienced and so you would be more confident in working with them as opposed to working with a company that is barely a year old.
You could even ask around just so you are sure of the company’s reputation. Consider talking to other people who have taken out warranties with that same company and see how the company handles claims and other matters.
2. What brands are covered?
There are companies that cover only specific brands; but this is not the kind of company you would wish to go for. Work with the one that covers all brands, models and makes; and have no issue with the age of the appliances or fixtures.
3. Customer care
What are the operational times of the call helpline? A good company will be available 24/7 because you never can tell when a breakdown will occur. A company with instant responses is much more preferable.
4. Service fee costs
Even when covered, you would still be required to pay a certain fee after a repair has been carried out. How much service fees is the company requiring? At times, the companies with more expensive premiums will have much less service fees and vice versa.
5. Read through and grasp the contents of the contract
You need to understand exactly what is stated in the contract because this will prevent denial of claims by ensuring you keep to what was agreed upon. If the contract calls for routine maintenance by the company, make sure you schedule these without fail.
6. Know the repair cost limits
Different companies have different limits for different repairs. Make sure you are aware of the company’s limits and if they are within reason. You do not want a limit so low that almost nothing will be fully covered.
7. Effecting the policy
When does your policy become valid? Does it start immediately? Does it require you wait 30 days or some time thereabout? What about the home inspection you had done? Will the warranty company first require a copy of the report? All these are very important questions to check with your home warranty provider.
A thorough evaluation of the company as well as its policies will be necessary to make sure you find the perfect fit for you. Every homeowner will have different needs and a good warranty should be able to cover your specific needs. It should be tailor-made just for that particular home owner and their property, if you want to enjoy the maximum benefits of home warranty.
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