With a relatively mild climate, Memphis is a great place to own a home. However, homeownership comes with its difficulties, like repairing your home's systems and appliances.
by House Method Local Advisors
A home warranty can give 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. Although a home warranty can help with your expenses as a homeowner, one issue is narrowing down the perfect choice for your Memphis home. That's why we've done the research and have compiled a list of the top home warranty options in Memphis.
Selecting the best provider for your home warranty is a step you could take to protect your house. When considering which home warranty company is the right fit for you, here are some important factors to take into account:
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 helps homeowners cut back on the high costs of appliance and systems repairs. Home warranties will cover a select number of home systems and appliances that need repairs or replacements due to normal wear and tear. A home warranty is one thing that can make budgeting and managing your finances easier. Home warranty plans typically have a thirty-day waiting period from the time you purchase to the time you can file your first claim.
For Memphis homeowners, when an issue comes up with a covered appliance or system, it is very simple to file a claim. Most home warranty companies have an online portal system where a claim can be filed. At this point, you will pay a service fee, which is usually between $60 and $150 depending on what plan you have. Once 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 by the warranty and it's within the coverage cap, most homeowners will not have any other out-of-pocket costs after the service fee is paid.
A home warranty plan will cover systems and appliances that have broken down due to normal wear and tear. For instance, if your dishwasher suddenly stops working under normal use conditions, your home warranty provider can help. Appliances covered under a home warranty plan are typically the refrigerator, dryer, garbage disposal, microwave, dishwasher, and more. Systems that are covered usually include water heaters, electrical systems, air conditioners, plumbing systems, and heating systems. Add-on coverage will vary from plan to plan, but you can expect to see add-ons such as sump pumps, central vacuums, pools, roof leaks, electronics, and spas.
Memphis homeowners should understand that a home warranty will only cover repairs and replacements due to normal wear and tear. Home warranties do not cover things like natural disasters, pre-existing conditions, cosmetic issues, or misuse of a system or appliance. You must keep up with preventative maintenance on your home systems and appliances to be sure that your next repair or replacement-related complication will be covered by the policy.
Temperatures in Memphis can get quite high in the summer, which means your air conditioner is most likely going to get a lot of use. As a homeowner in Memphis, one of the benefits of having a home warranty is that these home systems and major appliances can be covered in the event they need to be repaired or replaced.
Along with saving you money on out-of-pocket expenses, a home warranty can give you peace of mind and save you the hassle of trying to find a qualified repair person to visit your home. Home warranties usually have a network of pre-vetted technicians who can handle any repair issues you may experience.
There are also some drawbacks to buying a home warranty plan, like the coverage exclusions. For instance, home warranties may not cover systems or appliances that are already covered by a manufacturer's warranty. Another thing to consider is that some providers don't cover pre-existing issues and may require an inspection before your coverage can begin. Ask the home warranty company for clarification about this if you aren't sure or if this is an issue for you.
Whether or not a home warranty is worth it ultimately depends on your personal situation. Similar to any other type of insurance policy or warranty, its purpose is to offer you some peace of mind, so you will have to decide how much that is worth to you.
A home warranty in Memphis can save you a lot of money and give you peace of mind when it comes to costly home repairs and replacements. All of these top companies have impressive histories and backgrounds and coverage plans. Among them, Choice Home Warranty stands out as the best overall choice. Its comprehensive coverage, fair pricing, and easy to understand policies make it a great home warranty for Memphis homeowners.
The best overall home warranty company in Memphis is Choice Home Warranty but the right company for you will depend on factors such as what appliances and systems you need coverage for.
A home warranty is a kind of service contract that gives homeowners extra coverage for their household systems and appliances. These include refrigerators, garbage disposals, washing machines, dishwashers, dryers, electrical systems, heating and cooling systems, water heaters, plumbing, and sump pumps, among others. Some policies also offer coverage for ceiling fans, garage door openers, roofs, and pools. A home warranty can help you save money if these items break down unexpectedly.
Home warranty policies cover issues related to systems and appliances that need repairs or replacements due to normal wear and tear. The homeowner's insurance policy is a different plan that protects one's entire home from situations like natural disasters and fires. It doesn't cover typical appliance or system damage.
A home warranty policy can cost on average anywhere from about $300 to $800 a year in Memphis. Our high-rated home warranty companies' most comprehensive coverage options vary from $546 to $840 per year. You can lower your monthly bill with some companies by choosing a higher service fee. Additionally, it's often 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. The key is to compare plans to determine what you're really getting for the price.