A home warranty can offer you the peace of mind you need about your home and safeguard your savings account from large expenses by covering your home's major systems and appliances.
Indianapolis is a great place to buy a home. However, along with all the positives of homeownership, there are usually a few negatives, too. One of the biggest headaches for many homeowners is that systems and appliances can need repairs suddenly.
Because the home warranty market has a variety of providers — all with different coverage — the House Method team did the research for you to help you find the right home warranty in Indianapolis.
The first step in protecting your house with a home warranty is determining which company's plan is right for you. Figure out which appliances and systems in your home you'd like coverage for and compare the plans. Here is a list of factors that you'll want to take into consideration when picking a home warranty provider:
Many home warranties cover or have options to cover appliances and other expensive repairs, which can save you significant money over time.
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A home warranty is a service contract that brings down the cost of repairs when one of your home systems or appliances breaks down. A home warranty can help homeowners who need to keep a budget in place and don't want to use their savings to pay for large repair or replacement expenses. Typically about 30 days after a home warranty plan is paid for, the coverage will start on your home systems and appliances.
When a covered appliance or system needs to be repaired, you file a claim with your home warranty provider. Most companies have an online portal where you can do this. Once you file the claim, it will be assigned to a local technician or repair person who will come and assess the issue. After that, you will pay your service fee. Service fees for home warranties range in price from $60 to $150. Most home warranty plans also have a coverage limit, which is the maximum amount per year that the home warranty company will cover for repairs and replacements.
A home warranty plan will cover systems and appliances that have broken down due to normal wear and tear. For example, if your dishwasher suddenly needs repairs under normal use conditions, you can call your home warranty provider. The appliances typically covered under a home warranty plan include clothes dryer, garbage disposal, dishwasher, microwave, refrigerator, clothes washer, and more. The systems usually included are hot water heaters, ductwork, air conditioners, plumbing systems, and electrical systems. Add-on coverage will vary from one plan to another, but you can expect to see things such as electronics, pools, central vacuums, roof leaks, sump pumps, and spas.
A Indianapolis home warranty will only protect against normal wear and tear. If you are experiencing cosmetic issues with appliances or you have not properly maintained your home systems and appliances, the home warranty will not cover it. Also, natural disasters, intentional breakages, and pre-existing conditions are not covered with a Indianapolis home warranty.
Indianapolis is known for its mild winters and hot summers, and if you live in Indianapolis, you know that the weather can be unpredictable. During the summer months, your air conditioner can be overworked in its effort to combat the heat. If your air conditioner did break down, a home warranty can cover the repairs and prevent you from spending out-of-pocket expenses.
Another added benefit of having a home warranty plan is that it can raise your home's real estate value. If you ever decide to sell your home, you may be able to transfer your home warranty plan to the new home buyers depending on the company you have your home warranty with.
One main drawback of a home warranty is not every home system and appliance you care about may be covered. It's important to compare the different policies and choose one that covers all the appliances, systems, and add-ons you need. Another downside is that home warranties may exclude some repairs, like those due to natural disasters. For example, if your house floods, the systems and appliances that were impacted probably won't be covered by the home warranty.
It can be challenging to budget for the unexpected expenses that can come with owning a home, but a home warranty can help you with that. Similar to any other warranty or insurance policy, there will always be benefits and drawbacks of getting one but its main purpose is to provide protection and peace of mind.
Hopefully, this review of Indianapolis' best home warranty companies has helped you narrow down your choices and find the right plan for you. All of these top home warranty providers have impressive histories and backgrounds and coverage options. Among them, Choice Home Warranty stands out as the best overall choice. It offers great coverage at an affordable monthly cost. However, other providers mentioned above are also great choices for Indianapolis residents.
The top home warranty provider in Indianapolis is Choice Home Warranty. Choice Home Warranty a large network of professional service technicians and a tremendous reputation in the Indianapolis area.
A home warranty plan helps protect against the normal wear and tear of systems and appliances in a home. Homeowners insurance protects the entire home in case of something such as a natural disaster or fire. Under a homeowners insurance plan, you will not be able to file a claim if you need a new refrigerator or stove, unless the damage is a result of a natural disaster.
Home buyers, home sellers, landlords, homeowners, and real estate agents can all get home warranty plans. A home warranty can help make your home more attractive to prospective buyers and save homeowners money in the long run.
Most home warranties have a 30-day waiting period before you can file claims, but some may offer coverage sooner so be sure to check with the company about this.
A home warranty policy can cost on average around $300 to $800 a year in Indianapolis. Our high-rated home warranty providers' most comprehensive coverage options vary from $546 to $840 per year. You can get a lower monthly payment with some companies by choosing a higher service fee. In addition, it's typically cheaper to pay annually rather than monthly. For example, the warranty might cost $50 per month or $570 for 13 months. In this example, going with the annual plan over monthly payments saves you $80. It's important to compare plans to determine what the best value is.