Reasons Why Home Warranties Are Essential

    This is a guest post by Jeff Broth, who specializes in exactly that—eventually most doctors will end up purchasing a home and will need at least the basics to help us make the right decisions to cover our roof. Incidentally I ended utilizing my home warranty on a few leaky windows in my home.

    Home warranties can serve as useful ‘insurance and protection’ against the breakdown of home appliances and systems. The average lifespan of home appliances and their electro-mechanical components varies significantly. Consider for example that the average lifespan of air conditioning units (AC units) ranges between 8 years and 15 years. Various factors determine the longevity of appliances, notably how much they are used, the type of climate you are living in, and the quality of the appliances and systems that you purchased. The life expectancy of home systems and appliances is one of the major driving forces behind the explosive growth in the home warranty industry. Below is a listing of the estimated lifespan of home systems and appliances, based on industry-leading analysis:

    • Water Heaters – 10 – 11 Years
    • Washing Machines – 5 – 15 Years
    • Refrigerators – 9 – 13 Years
    • Microwave Ovens – 9 Years
    • Electric Ranges – 13 – 15 Years
    • Gas Ranges – 15 – 17 Years
    • Gas Ovens – 10 – 18 Years
    • Dryers – 13 Years
    • Dishwashers – 9 Years
    • Food Disposal Units – 12 Years
    • Compactors – 6 Years
    • Freezers – 10 – 20 Years

    Be advised that several factors besides usage determine the longevity (life expectancy) of these systems and appliances. For example, proper care, maintenance, and usage can significantly enhance the lifespan of these systems. The quality of the materials used in maintaining and servicing these appliances can also have an impact. Generally, the fewer the number of working parts in a system, the longer it will last, ceteris paribus. As a new homeowner, you are generally protected against faulty systems and appliances by dint of the manufacturer’s warranty. This is applicable to the first year of ownership for an appliance/system.

    After that, the manufacturer’s warranty typically expires, unless the appliance owner has purchased an extended warranty. Before a home warranty company selection is made, it is imperative that these companies are extensively reviewed and tested by industry-leading experts. It is difficult to gauge the quality of a home warranty provider if you don’t know what needs to be assessed. It’s not only the annual fees that matter, it’s the coverage and extended coverage, customer service, technical proficiency, timeliness and credibility that plays a big part in the decision-making process. The difference between home warranty coverage and the absence thereof could be tens of thousands of dollars in replacement/repair costs for major systems and appliances.

    How Can a Home Warranty Help You?

    Home warranties are designed to offer the protection that is needed to guard against system malfunctions, breakdowns, or replacement. The quality of a home warranty company determines the level of comprehensive coverage it provides to US homeowners. A group of top-quality home warranty providers consistently exceeds expectations. The top 5 home warranty companies for 2018 include the likes of: Select Home Warranty, Choice Home Warranty, Total Home Protection, American Home Guard, and Advanced Home Warranty. Evaluating the quality of one home warranty provider over another is an arduous undertaking.

    It requires extensive analysis of the terms and conditions provided for home warranty coverage for these companies, the type of plans and costs associated there are. Perhaps the most important components of home warranty companies are trust, credibility, reputation, and client reviews. The reputation of a home warranty provider takes time to cultivate. When a company provides exceptional service to its clients, it garners a solid reputation in the industry. This is facilitated by way of positive client reviews on objective review sites like TrustPilot, with industry-leading appraisals through the Better Business Bureau (BBB).

    What Can a Home Warranty Company Offer You?

    Consider the following example review of Total Home Protection. This in-depth review provides assessments of the quality, credibility, and coverage offered by this home warranty provider. It lists the BBB rating, hours of operation, cancellation policy, premiums, deductibles, and coverage limits. Among others, Total Home Protection is highly rated on Google, is available across most every state, and provides affordable additional coverage options to clients. That it is not accredited by the BBB should be factored into the equation, and there is limited coverage available.

    However, one should always bear in mind that up-and-coming companies should not be dismissed out of hand. Growth prospects and enhanced credibility are entirely possible over time. There are significant cost benefits to signing up for home warranty coverage with a reputable provider. Home systems and appliances are exceptionally expensive to replace, service, or repair. For a nominal annual fee and callout fee, homeowners can sleep easy at night knowing that the inner contents of their homes (systems and appliances) are protected against eventualities.

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