A home warranty in Memphis can help cut your out-of-pocket costs by covering repairs or replacements to major home systems and appliances that stop functioning due to normal wear and tear.
Many people in Memphis have made their dream of owning a home into a reality. However, as great as Memphis can be, there are always downsides that come with owning a home, such as keeping your home's systems and appliances maintained.
Finding the best home warranties on the market can be a challenge because of the many options out there. If you are overwhelmed by trying to compare the different options, keep reading for our guide on the top home warranty companies in Memphis.
The first step in protecting your house with a home warranty is determining which company's plan is the best for you. Think about the appliances and systems in your home you need coverage for and compare the plans. Here is a list of factors that you'll want to bear in mind when choosing 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 plan that can bring down the cost of on appliance and system repairs and replacements. Working appliances and home systems are what make living in a Memphis home comfortable and convenient. When they start to break down, it can be expensive and a nuisance. Fortunately, with a home warranty in place, an affordable repair is just a phone call away.
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 to help you 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. At this point, you will pay a service fee, which is typically between $60 and $150 depending on what plan you select. After the service fee is paid, a repair person will come to your home, assess the issue, and make the repair. As long as the repair is covered under the warranty and it's within the coverage cap, most homeowners will not have to pay any other out-of-pocket costs after the service fee is paid.
A home warranty in Memphis usually covers the main systems and appliances in the home. Appliances covered under a home warranty plan are typically the dryer, dishwasher, garbage disposal, refrigerator, microwave, and more. Systems that are covered usually include water heaters, air conditioners, electrical systems, plumbing systems, and heating systems. Add-on coverage will vary from one plan to the next, but you can expect to see things such as pools, roof leaks, sump pumps, central vacuums, spas, and electronics.
A Memphis home warranty will only cover repairs and replacements due to normal wear and tear. If your appliances have cosmetic issues or you have not properly maintained your home systems and appliances, the home warranty will not cover it. Also, intentional breakages, natural disasters, and pre-existing conditions are not covered with a Memphis home warranty.
Memphis' hot summers can put a strain on a home's HVAC system. Whether it's summer or winter, a home warranty will cover your home's appliances and systems if they need to be repaired or replaced. For example, if your air conditioner fails in the middle of July, a home warranty can cover the repairs, preventing you from spending a lot of money out of pocket.
Another good thing about having a home warranty when you're selling your home is that you can probably transfer your home warranty plan to the new owners. This can make your house more attractive to potential home buyers and help your house sell faster.
One main drawback of home warranties is not everything you care about may be covered. It's important to compare the different policies and purchase one that covers all the appliances, systems, and add-ons you need. Another stipulation is that home warranties usually only cover repairs needed due to normal wear and tear. They commonly won't cover systems or appliances that have need repairs or replacements due to improper maintenance, animal infestations, natural disasters, etc.
It isn't always easy to budget for the unexpected expenses that can come with owning a home, but a home warranty can help with that. Similar to any other warranty or insurance policy, there will always be pros and cons of purchasing one but its main purpose is to offer you protection and peace of mind.
Hopefully, you now feel like you can select the proper home warranty for your Memphis home. Choice Home Warranty stands out as the best overall company. It offers great coverage at an affordable monthly cost. However, other home warranties reviewed above are also great choices for Memphis residents.
The best overall home warranty company in Memphis is Choice Home Warranty but the perfect company for you will depend on factors such as what appliances and systems you need to have covered.
Home warranty policies cover issues related to home systems and appliances that need repairs or replacements due to normal wear and tear. The homeowner's insurance policy is a larger plan that protects your entire home from natural disasters and fires. It doesn't cover typical appliance or system repairs.
Most home warranty policies have a 30-day waiting period before you can make service requests, but some may offer coverage sooner so be sure to check with the company about this.
A home warranty policy will cover repair and replacement costs for home systems and appliances. Home warranties will not cover the intentional breaking of an appliance or pre-existing conditions.
Home warranties cover the cost of repairs and replacements as long as it is within the coverage cap of the plan. If the replacement will cost more than the home warranty covers, you will have to pay the rest out of pocket.
A home warranty plan can cost on average anywhere from about $300 to $800 a year in Memphis. Our top-rated home warranty companies' most comprehensive coverage options vary from $546 to $840 per year. You can reduce your monthly bill with some companies by choosing a higher service fee. Additionally, it's usually cheaper to pay annually rather than monthly. For example, the warranty might cost $50 a month or $570 for 13 months. In this example, opting for the annual plan over monthly payments saves you $80. It's important to compare plans to determine what you're really getting for the price.