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Imagine your furnace breaking down in the middle of a harsh Iowa winter. The thought alone can send shivers down your spine. Ensuring your home's systems and appliances are working properly is essential when you live in a State where temperatures can plummet.
According to bestplaces.net, the housing market in Iowa is up-and-coming, with a median house value of $194,900. Experts recommend setting aside 1-4% of your total home value for repairs, so if you are a homeowner and want to protect your home on your own, you’ll need to have at least $2,000 per year in reserves. The fact is, not everyone is fortunate enough to be in this position.
However, there may be a solution. A home warranty is a service contract that helps cover the cost of repairing or replacing major home systems and appliances that fail due to normal wear and tear for a monthly fee. Unlike homeowners insurance, which covers things such as fires and natural disasters, a home warranty gives you peace of mind that when things break down, you’ll know who to call.
Let’s review comprehensive information about Iowa home warranty coverage. We'll explore what is covered, the costs involved and any exclusions or limitations you should know.
Components of a home warranty
Typically, a home warranty covers certain systems and appliances within the home. These often include:
- HVAC systems: Heating, ventilation, and air conditioning systems are crucial, especially in regions with extreme weather conditions. A home warranty can help cover the costs of repairing or replacing these systems when they fail.
- Plumbing: Plumbing issues can cause a significant headache, from leaks to clogs. Home warranties can help cover the cost of repair and replacement of plumbing components.
- Electrical systems: Electrical failures can be hazardous and inconvenient. Home warranties can help cover cost of the repair of electrical systems, ensuring your home remains safe and functional.
- Kitchen appliances: Essential appliances like refrigerators, ovens and dishwashers are typically included in home warranty plans, helping to protect you from the high costs of unexpected repairs.
However, it's essential to be aware of exclusions and limitations commonly found in home warranty plans. Not all items or types of damage are covered. For example, some warranties may exclude pre-existing conditions, improper maintenance or certain high-end appliances. Home warranty plans may also have annual plan or item coverage limits. Understanding these limitations can help you choose the right plan and avoid surprises when filing a claim.
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What Does a Home Warranty CoverThe importance of home warranties in Iowa
Iowa’s weather makes a difference
Iowa’s weather can be extreme, with harsh winters and hot summers putting significant strain on home systems and appliances. During the frigid winter months, heating systems work overtime to keep homes warm, increasing the likelihood of breakdowns.
Conversely, A/C units are pushed to their limits in the sweltering summer heat. These extreme temperature fluctuations can accelerate wear and tear, leading to unexpected and costly repairs. This increases the importance of having an Iowa home warranty.
Having the right home warranty plan allows homeowners to rest easy knowing that their essential systems and appliances are covered, regardless of the weather conditions.
The age of homes in Iowa plays a role
The age of homes in Iowa further underscores the importance of having a home warranty. Many homes in the state are older, which make systems and appliances more prone to failure.
According to bestplaces.net, the median age of homes in Iowa is 49. Older homes are more likely to have aging HVAC systems, plumbing and electrical components that may require frequent repair or replacement.
For instance, an older furnace may struggle to keep up during a freezing winter, or an outdated electrical system might not be able to handle the increased load during a hot summer. These issues can lead to unexpected and often costly repairs. A home warranty can help mitigate these costs, providing homeowners with a safety net for their aging home systems and appliances.
A home warranty can make repairs easier
In addition to offering financial protection, a home warranty simplifies the repair process. Instead of scrambling to find a reputable contractor during an emergency, homeowners can rely on their home warranty provider to coordinate repairs with trusted professionals. This convenience, combined with potential financial savings, makes a home warranty an invaluable resource for Iowa homeowners facing the challenges of weather extremes and aging home systems.
How much do home warranties cost in Iowa?
According to ConsumerAffairs, the average annual cost of a home warranty policy nationally is between $450 and $600 per year. Home warranties are typically 12-month contracts, and many providers let you pay monthly. Additionally, the average monthly cost is between $40 and $60.
Keep in mind that your home warranty plan will vary based on the details of your coverage. Most home warranty companies will have a few different plans for you to choose from.
Choosing the right home warranty plan
For Iowa residents, whether you live in Des Moines, Cedar Rapids, or Davenport, selecting the proper home warranty requires careful consideration of your home's specific needs. When looking for the right home warranty plan, it is essential to know the typical types of plans so that you can choose the one that best suits your needs.
Appliance-based plans
Home warranty plans that focus on appliances are meant to help you avoid having to shoulder alone the total cost of repairs and replacements when the appliances in your home stop working. For a small monthly fee, when your microwave, refrigerator, dishwasher and other covered appliances stop working, you can call your home warranty company to gain access to a network of skilled technicians who will do their best to fix it.
Systems-based plans
As you research different home warranty companies in Iowa, you'll find that some companies offer plans that focus heavily on your home's systems. This includes things such as your HVAC, electrical system, plumbing and more. These kinds of plans are meant to offer coverage on things that are pricier to repair or replace.
Complete home plans
The third kind of home warranty plan you'll likely encounter when you search for home warranty plans in Iowa is a much more comprehensive option. This kind of plan blends the appliance-centric plan and the system-based plan, providing you with more complete coverage. While this will probably be the most expensive, it should provide exceptional coverage and peace of mind.
How can you determine the best home warranty provider for your Iowa home?
Once you've explored what type of Iowa home warranty your home needs, the next step is to find the right company to meet those needs. Here are some of the main factors that you should consider in choosing the right provider.
Experience: Although longevity only sometimes matches quality, it doesn't hurt. With a more experienced company, you will likely have a more well-developed network of technicians, which is a major benefit.
Price: Of course, price is an important factor when shopping around. However, don't get tricked into signing up for a plan with a less expensive provider that doesn't offer the services you need.
Plan options: Make sure that the company you choose offers a wide variety of options to fit your home's needs and budget. Remember, you're in control, and you have the opportunity to make a decision that works best for you and your family.
According to Forbes, the average annual cost of a home warranty policy is between $275 and $600. Meanwhile, some repairs could end up costing thousands of dollars. In additon to potentially helping you save money, having a home warranty plan may give you the peace of mind you need. Cinch Home Services offers home warranty* plans backed by over 45 years of experience and a network of top-notch service providers. With Cinch Home Services, you can purchase an affordable warranty plan* with award-winning customer service and many options. Check out our home warranty plans to learn more.
*The product being offered is a service contract and is separate and distinct from any product or service warranty which may be provided by the home builder or manufacturer.
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.