Tips on home warranty coverage

 

For many of us, our home is one of the biggest investments we will ever make. When you make a big investment like this, you are going to want to protect it. Does your homeowners insurance offer enough coverage to replace your house should something bad happen?
 
"Home warranty companies have topped to list again for our most complained about category" says Angie Hicks of Angie's List. Nearly 46 percent of the reviews are either D's or F's.
 
She also said "What we found in this process is that consumers are not clear about what a home warranty covers and we are seeing complaints about the quality of contractors the home warranty company sends out to do the repairs."
 
Angie has some helpful tips for choosing your homeowner's warranty so that you don't become part of the 46 percent.
 
Angie's List Home Warranty Tips:  If you are considering adding a home warranty or home service contract to your purchase, be sure to read the contract carefully.  Find out what the warranty covers and what it doesn't cover.  Compare multiple policies as coverage can vary significantly and check company reviews to find out as much as you can about other homeowners' experiences with the warranty company.
 
If you have a service issue, ask for the names of three contractors they could send out.  Then, research those contractors, call the warranty company back and tell them which contractor you prefer.  If there are deductibles for service calls in addition to the initial warranty cost - typically between $350 and $500 a year - you might decide you're better off without the warranty.
 
Here is the list of 2011 Most Complained-About Companies
1. Home warranty companies
2. Internet service providers
3. Banks/Credit unions
4. Property management companies
5. Auction services
6. Boating sales and service
7. Mattress sales
8. Mobile and landline phone providers
9. Wedding professionals - bridal and tuxedo shops, planners
10. Travel agencies
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