home warranty insurance average cost

home warranty insurance average cost

For example, one home warranty company might warrant a home’s air conditioning system in the basic policy, while another charges extra for that coverage. The second factor is the cost of different upgrades. For example, depending on the policy and desired coverage, the consumer may need to pay extra to cover swimming pool equipment or additional roof coverage. The third factor is the cost of the service calls, which might range anywhere from $35 to $75. After paying for the policy, the consumer pays a service charge when calling out a repair person from the company to investigate a problem. There is typically no charge for replacing or repairing the broken item. Home insurance is usually required by your mortgage lender and protects the structure of your home against risks such as damage from severe weather and theft, secondary damages resulting from some system and appliance failures, as well as protecting you personally from liability in the event that someone is accidentally injured on your property. Each time you make a claim on your home insurance you pay a deductible cost, which is commonly $500 or $1,000. Home warranties protect many of the home systems and appliances that you rely on daily. When these systems and appliances inevitably fail over time due to normal wear and tear, a home warranty will pay to repair or replace them. You will pay a service fee each time you request service, which ranges from $50 $100.

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All systems and appliances covered under either the manufacturer’s, distributor’s, or any other express or implied warranty will not be covered under this Agreement. 6. 3. 3. Heating System. This Agreement covers ALL module, components and parts of the heating system necessary to the functionality of the heating system. This Agreement covers the primary heating system of the covered home. i Condensor Fan motors; ii compressors; iii condensers ivthermostats vCapacitors virelays viiContactors viiipressure switch ixthermistor x cut in switches xi transformers xii inducer motors xiii defrost boards xiv Blower motors xv heating elementsxvi ignitersxvii ignition modulesxviii burner assemblyxixpressure switchesxx thermocouple. 6. 4. Additional Coverage Options.