Top Home Warranty Providers to Consider in 2024
Discover the best home warranty options for 2024, including coverage types, top providers, and tips for choosing the right plan. Protect your home and save on repair costs with tailored warranties from leading companies. Understand key exclusions, add-ons, and the importance of thorough policy review to ensure peace of mind and financial security.
Top Home Warranty Providers to Consider in 2024
Many homeowners confuse home insurance with home warranties, but they serve different purposes. While homeowners insurance covers damage from fire, storms, and major disasters, home warranties focus on reducing costs when appliances or systems like plumbing and HVAC break down. Lenders often require home insurance, but warranties are optional. This article explains what home warranties include, common exclusions, pricing, and advantages and disadvantages. Understanding these details helps homeowners decide if a warranty suits their needs.
What a home warranty covers
Coverage varies based on the selected plan and the property's age, whether new or older.
Systems-focused plans
These primarily cover heating, cooling, plumbing, and electrical systems, including water heaters.
Hybrid plans
These combine system and appliance coverage, often at a higher cost due to their comprehensive nature.
Appliance-only plans
These plans typically include coverage for kitchen appliances like ovens, dishwashers, washers, dryers, and microwaves. Refrigerators may be optional or excluded.
Add-on options
Common add-ons include coverage for pools, spas, septic systems, wells, and hot tubs. Most warranty providers offer options to extend protection for specific items not included in standard plans.
Coverage exclusions are common, so reading policy details carefully is essential. Consider these points:
Pre-existing conditions
Warranties typically do not cover issues present before purchase. If your appliances or systems are already defective, they won't be covered.
Coverage limits
Exclusions vary; for example, some plans might cover garbage disposal but not if it’s clogged by certain objects. Refrigerator coverage may be limited to kitchen models, excluding features like ice makers.
Waiting periods
It often takes 15-30 days for coverage to activate. Early coverage may be possible if you previously had active home insurance or are purchasing a home already under warranty.
Repair restrictions
You must use approved service providers; hiring your own repairs might void coverage.
Coverage for unexpected repairs only
Home warranties are meant for unforeseen issues. Normal maintenance, regular wear and tear, or problems caused by neglect are generally not covered.
Home warranties help protect homeowners from costly repairs of major appliances and systems. Over the years, their popularity has grown since industry pioneer American Home Shield established the industry in 1971. When choosing a provider, three companies stand out for 2024:
- Complete Protect for transparency
- Total Appliance Protection for affordability and limited exclusions
- American Home Shield for customizable plans
Remember to thoroughly review any warranty agreement before signing. While these plans may have limitations, they can provide peace of mind against unexpected repair costs. If used wisely, a home warranty can be a valuable investment that reduces stress and financial burden.
Leading home warranty companies of 2024
Best for transparency: Total Protect
Total Protect makes it easy to compare plans and obtain quotes. They offer three customizable plans with discounts, making selection straightforward.
Most affordable with limited exclusions: Total Appliance Protection
This provider charges no service fees, ensuring you only pay for the plan itself, without additional costs for repairs.
Most customizable coverage: American Home Shield
As one of the largest providers nationwide, AHS allows homeowners to choose from three plans and customize coverage to fit their specific needs.
