How long does a home warranty last?
Key takeaways:
Providing peace of mind and service when you need it, home warranties can come in handy, but how long do they last? The majority of home warranties offer coverage for a year. Avoiding potentially costly repairs and replacements that can come out of the blue as a homeowner, home warranty plans are designed to protect you from a sudden financial burden.
When you buy a home, you suddenly have new home appliances and major home systems that could need maintenance or repair at any time. A home protection plan can not only put you at ease but also help you through what would have been a financial hiccup.
This article will explain the basics of home warranties, explaining coverage, payment terms, renewals and exclusions.
Who needs a home warranty plan?
Homeowners insurance covers some major damages to your home but stops at a certain point. In the unfortunate scenario of a natural disaster, your homeowner insurance should cover the costs, but it won’t cover common mechanical problems. For example, let’s say your HVAC system is acting up. You can’t wait to fix it because it’s the middle of July and hot. While a homeowners insurance plan won’t cover this problem, a home warranty plan will.
Regardless of the age of your home appliances or built-in systems, they’re bound to experience some normal wear and tear. Once the manufacturer’s warranty is up, you’ll be left to front the costs. A home warranty can protect your budget.
How do you know if you need a home warranty plan? Here are a few reasons a home protection plan from a trusted home warranty company like Cinch Home Services could be right for you:
- You’re a new homeowner. It’s common for new home buyers to not know the full condition of their home’s major appliances and built-in systems even after the home inspection.A home warranty can help you cover unexpected costs during the first year of homeownership.
- You don’t have much time. You’re a busy person and don’t want to be hassled with having to find someone to repair or maintain your appliances or systems. A home warranty usually comes with a network of highly vetted service technicians.
- You’re not very handy. Let’s face it, not everyone is a handyman ... and most people don’t want to deal with the septic system on their own. Instead of wasting your time on YouTube or Googling how to fix your fridge, leave it to your home warranty service provider.
- You purchased a historic home. Beautiful and full of unmatched character, older homes tend to have outdated materials, roof leaks, structural defects, and appliances or systems that may need replacement more often than a newer home.
Life is expensive. With mortgage payments, car payments, bills and possibly student loans, unexpected maintenance and repair costs might be out of the question. By paying a little each month, you can avoid stressful financial sitwwwions and have access to affordable repairs and replacements when you need them most.
What kind of home warranty plans are out there? Cinch offers three plans:
- Appliances: The Appliances plan covers 12 major home appliances, including clothes washers, refrigerators, ranges and cooktops. The Appliances plan also covers unknown pre-existing conditions and rust and corrosion.
- Built-in Systems: The Built-in Systems plan covers four major systems and their associated components. For example, this plan includes coverage for the cooling and heating system, electrical system (such as garage door openers), the plumbing system (including the water heater) and more. Like the Appliances plan, the Built-in Systems plan covers unknown pre-existing conditions and rust and corrosion. Whether you want coverage for your air conditioner or garbage disposal, this plan covers a multitude of built-in systems components.
- Complete Home: Cinch’s Complete Home plan is the best home warranty plan, giving you the most bang for your buck. This home warranty plan includes everything in the Appliances and Built-in Systems plans, plus homeowners insurance deductible reimbursement. In fact, you’ll be reimbursed up to $500 if you have to pay a deductible on a covered homeowners insurance policy claim.
When does home warranty coverage begin?
Most home warranty providers have a 30-day waiting period before coverage starts. Before you purchase a home warranty plan with Cinch, you’ll be told when your coverage begins and won’t be charged until your plan becomes active. You’ll also receive a confirmation email and plan documents that provide all the information you may need to know about your home warranty plan.
How often do you pay for a home warranty?
Choosing a home warranty plan that fits into your budget doesn’t have to be a struggle. In most cases, you can choose monthly or annual payments. Depending on your region, you might be eligible for different coverage options. Get a free quote now and get personalized coverage for your home.
When determining the cost of your home warranty plan, you should also consider the deductible, which is the amount you pay out of pocket. With a Cinch home warranty plan, the deductible is collected at the time of service and may go toward the cost of the covered repair, replacement and/or service call fee. Since budgets vary, Cinch provides homeowners with multiple deductible options. Depending on which deductible you select, your monthly payment could increase or decrease.
How many home warranty service requests can you make?
Cinch doesn’t have a limit on the number of service requests you can make on covered items. As long as you are requesting service for a covered item, we have it covered.
Although there is no limit on the number of times you can file a service request, there is a cap in which the costs should not exceed a maximum amount. The maximum covered limit depends on the plan you elected and the coverage on the specific item. For example, the cap for air conditioning and heating is different from a ceiling fan. To see a sample breakdown, view Cinch’s home warranty contract for terms and conditions.
Now that you don’t have to worry about exceeding the number of service requests, you can rest assured that you’ll be helped when you need it. When a covered home appliance or built-in system needs repair or replacement, you can put in a service request with ease. Just visit your Cinch My Account.
The home warranty renewal process
As mentioned, most home warranty plans provide coverage for a year. This is because you can renew your plan coverage. If you choose a Cinch home warranty plan, we’ll alert you of rate or coverage changes no less than 30 days before your plan expires.
If you choose not to renew your plan before the final 30 days are up but decide you want to continue the plan, you will have to wait the 30-day waiting period before you can make a service request.
Remembering every aspect of your home warranty plan can be challenging. However, it doesn’t need to be difficult. When you sign up with Cinch, we provide you with all the information you need to know about your home warranty plan in plain English.
Find affordable home warranty coverage for your home today
Without home warranty coverage, you could be left with a hefty repair or replacement of a major appliance or built-in system when you least expect it. This can cost you anything from hundreds to even thousands of dollars, which, if you haven’t prepared for, can be a troubling expense.
Thankfully, you can worry less about unexpected breakdowns with a home warranty from Cinch. Regardless of which home protection plan you choose, every Cinch home warranty comes with four core benefits:
- Protection for unknown pre-existing conditions
- Rust and corrosion coverage
- 180-day workmanship guarantee, covering a persistent problem at zero cost to you
- Discounts on new appliances when it’s time for an upgrade
With over 40 years of experience, a network of more than 18,000 service professionals and an excellent rating with the Better Business Bureau (BBB), your house is in good hands with Cinch. Learn about your coverage options and get a free quote today.
* Subject to plan terms and conditions.
*The information in this blog library is intended to provide general guidance on home warranties, and on the proper maintenance and care of systems and appliances in the home. Not all of the topics mentioned are covered by our home warranty or maintenance plans. Please review your home warranty contract carefully to understand your coverage.
*Our blog library may link to third-party sites that offer products, services, coaches, consultants, and/or experts. Any such link is provided for reference only and not intended as an endorsement or statement that the information provided by the other party is accurate. We are not compensated for any products or services purchased from these third-party links.