Home warranties cover all sorts of kitchen appliances, from the microwave to the gas stove. Data collected from research by the staff of Cinch Home Services proves that without an appliance warranty, you would be paying full price for appliance replacements and repairs. If your appliances are old and worn out, you could pay a lot of out-of-pocket cash just to maintain them.
But what about other home systems that constantly need repair or replacement? What about piping and HVAC systems? Will your home warranty cover these items? According to a recent home expert Bob Villa report, a home warranty is potentially an excellent value. This is especially true for complicated HVAC and plumbing systems that fail more often as they get older. Your coverage will depend on your maintenance history and the terms of your warranty contract.
Home Warranty HVAC Coverage
If you're looking at a home with older appliances and systems, a home inspector will likely recommend purchasing a home warranty. Your biggest headache will likely come from the home's HVAC system. Even if it's well maintained, it's likely that it is approaching the end of its lifespan. So then, is a home warranty worth the cost when it comes to HVAC repair?
Says Bob Villa, aging appliances can be a real concern to lots of home buyers since after sinking a huge portion of their savings (or all their savings) into the purchase and furnishing of a home, they no longer have any emergency funds for the repair or replacement of HVAC systems and appliances.
But purchasing a home warranty is a relatively inexpensive way to make certain you'll be able to cover replacements or repairs of appliances and systems covered during the policy period (it's important to read your policy thoroughly so that you are clearly aware of what it covers and what it doesn't). Other than the occasional exception, home warranties will likely cover all your home systems, including plumbing and HVAC.
Home Warranties cover HVAC System Components
States Bob Villa, home warranties are engineered to cover repair and maintenance of everyday wear and tear, plus age-related failures of appliances and systems covered in the contract. They cover what homeowner's insurance policies will not since insurance is focused on repairing damage caused by outside forces like weather, fire, and accidents.
The systems your home warranty covers depends entirely on the type of warranty you select. Most home warranty companies are said to offer policies that cover only appliances such as laundry and kitchen machines. Other companies deal only with home systems like HVAC, plumbing, and electrical. Yet others offer programs for both appliances and systems.
Naturally, if you're already anticipating needing your existing HVAC system covered, you need to choose a company and a policy that meets your needs and wants. The policy should, in theory, identify which system components are covered. Typically, HVAC warranties include central air conditioning units, wall heaters, heating systems, and water heaters.
A prime home warranty designed for HVAC will cover all pipes, ductwork, and components needed for normal system operation, such as thermostats. Remember that many home warranties will not cover portable heating and ventilating appliances, so if you're looking to have your window AC unit covered, the company will likely refuse.
Home Warranty Companies Decide Who Makes Repairs
Again, according to Bob Villa, the home warranty company will usually decide who is to perform repairs or maintenance on your HVAC system and when system components require replacement. It should be noted that purchasing a home warranty does not constitute a "free-for-all" circumstance whereby you can call on a local contractor for repairs and decide on your own what needs to be repaired and replaced and what does not.
If there exists flexibility in the choice of system contractor, that must be spelled out in your home warranty contract. A few select companies will allow customers to select who they wish to work with. At the same time, other companies will assign the technician who works on your systems from a select group of companies they have already tested and approved.
By using technicians that have already proven their worth to the home warranty company, costs can be controlled, and maintenance and repair standards can remain high, especially when the decision to repair or replace is involved. If you choose your own company, the completed work will be subject to the home warranty company's coverage maximums for the system repairs that need to be completed.
In the final analysis, if you live in a home with aging HVAC systems, purchasing a very good home warranty will save you money in the short and long term.