Home Warranty Cover Ac Replacement – If you’re thinking about getting a home warranty on your home, or recently purchased a home that includes one in the sale, you may be wondering: what does a home warranty cover? Obviously, this depends on the home warranty company through which the contract is made, as well as the plan that is purchased. Most companies have different levels of plans and more expensive plans mean more coverage. However, at a basic level, most home warranties cover similar things: your home’s systems and appliances. Read on to learn more about what you can expect from home warranty coverage!
Home insurance covers the structure of a home, as well as damage caused by fires, floods, and other natural disasters. If your dishwasher started leaking, home insurance would likely cover the water damage. On the other hand, a home warranty would repair or replace the broken dishwasher, but would not cover the damage caused. Home insurance covers the structural part of a house, while a home warranty covers the systems and appliances it contains. It’s important to remember this because there isn’t much overlap between the two – homeowners need both!
Home Warranty Cover Ac Replacement
A home warranty covers systems and appliances in a home that have failed due to normal wear and tear. Systems and appliances have a useful life: unfortunately, they break down, wear out, and stop working. They won’t last forever, and there is a home warranty that helps soften the cost of paying for a new system or appliance when it fails due to age (normal wear and tear).
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Obviously, there are the foundation, roof, and walls that make up the structure of a house, but certain systems make the house comfortable and easy to live in. A home warranty contract generally covers:
Depending on the home warranty, different parts of these systems will be covered, while others may be excluded from coverage. The best way to know what a particular home warranty plan covers is to read the contract carefully. However, a good rule of thumb to remember is that a home warranty generally covers the mechanical parts of a system or appliance. That means the handles you use to open your oven are not covered because they do not affect the way the oven cooks your food. Now, if a heating element goes out on a furnace (because it is worn out from normal use), that would be included in the home warranty since it is a mechanical part.
Some home warranty contracts have “limits” included. This can be stated as a total dollar amount or on certain items within the contract. Some home warranties will cover anything in their contract up to a certain amount of money (say $24,000) and then no longer pay for repairs and replacements, regardless of whether they would be covered by the contract.
Other home warranties have limits on certain items where they will pay up to a certain amount for a repair or replacement, and then the rest must be covered by the homeowner. For example, Landmark will pay up to $500 for ductwork modification, meaning if the homeowner needs to repair the HVAC ducts, Landmark will pay $500 to repair or replace them, and the rest of the cost must be covered by the homeowner.
How To Compare Home Warranty Plans
It is important to keep the limits in mind when examining a home warranty contract. Some home warranties are cheaper, but have low limits on many of the items they cover. This won’t give you as much coverage.
Each home warranty company has different types of exclusions in their contract. Sometimes these exclusions simply mean that it would be less than the service call fee for a homeowner to repair or replace the item. (A good example of this is the sink pop-up mechanism.) Other times it means that it would be too expensive for the home warranty company to pay for each part of a system or appliance. There’s a reason most home warranty premiums are so low: a home warranty can’t cover each and every repair.
If you don’t maintain a home’s systems and appliances, causing them to work harder and burn out faster, they probably won’t be covered by the home warranty when they fail. Part of a home warranty contract is to make sure that the homeowner makes a reasonable attempt to keep everything running smoothly and cleanly while they own the home.
If a home inspector looked at the house before closing and mentioned a number of things that needed to be repaired or replaced, the home warranty will not cover those items. They are considered “known conditions.” Just like if you crash a car and then buy insurance and try to file a claim, a home warranty will not cover a system or appliance that is already in poor condition. That’s not how insurance works! Be sure to get a discount on the home when you’re in the buying process so you can foot the bill for repairs or replacements yourself, or have the seller pay them before you buy the home.
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Make sure you get the most out of your home warranty by reading the contract and knowing what to expect! It is important to be sure of what you are purchasing when obtaining a home warranty and know what will and will not be covered with a home warranty contract.
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Enter your information and get a free, personalized home warranty quote. You can customize coverage and pricing to fit your needs. Experience what over 70,000 homeowners already know: a Landmark home warranty helps protect your home and your budget! If you’re looking to purchase a home warranty, you may be wondering if a plan is worth it. You might think, “What would I use it for?” If you have an air conditioning, heating, plumbing, or electrical system in your home that isn’t new, you may already have the answer.
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Based on data from the six states Landmark serves (Arizona, Idaho, Nevada, Oregon, Texas and Utah), of the tens of thousands of service requests received each year, the top five repairs* for which homeowners use Your home warranty are:
A service request, in case you’re not familiar with the term, is something like an insurance claim. Homeowners open a service request when a system or appliance in their home fails and they need to repair or replace it. A contractor will come to your home to diagnose the problem and repair the system or appliance if it is covered in the home warranty contract.
These top five things are what homeowners most often use their home warranty for. Let’s look at the details of each of these repairs and replacements to see what the repairs are for and why homeowners use their home warranty to repair them.
Now, most homeowners spend a lot of money on repairs each year. Financial experts say a homeowner should plan to spend between 1% and 4% of their home’s value each year on repairs. HVAC systems account for a larger percentage of repairs and replacements for homeowners overall.
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The National Association of Home Builders found that in 2013, homeowners spent $7,270 to repair and replace their homes’ central heating or cooling system. This was significantly more expensive than any of the other systems and appliances homeowners repaired or replaced during that year.
Over the past eight months, more than 20,000 service requests for home warranty repairs on HVAC systems have come to Landmark.
Customers who have received repairs and replacements on their HVAC system pay between $60 and $100 for a service call fee. If the failure was caused by wear and tear and is covered by the contract, that is usually the final cost. Imagine: between $60 and $100 for a repair, instead of $7,000!
Of course, there are some items that are not covered by that service call fee, and homeowners have to pay a little more, but when they work through a home warranty company, they pay for parts and labor at prices with great discounts. One customer received a new $5,000 HVAC unit for just $900.
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So what are the most common repairs homeowners make to their HVAC units? These are the four main repairs/replacements performed on an HVAC unit:
Refrigerant or Freon is what your HVAC unit uses to cool the air coming into your home. If your HVAC unit has a freon line leak (a repair that is covered under our initial coverage), you may need to recharge that freon line. This can be expensive, depending on the type of Freon you purchase. According to Angie’s List, most contractors charge between $35 and $175 per pound plus labor, which is usually around $100, to recover or recharge Freon lines.
If a homeowner has additional Landmark home warranty coverage packages,