How Much Does A Home Warranty Cost In 2024? – Forbes

Every home warranty company is slightly different, but there are some general rules as to what a home warranty will cover.

One of the most common items that home warranties include is appliance coverages. This includes items like refrigerators, stoves, ovens, dishwashers, microwaves, washers, dryers and even trash compactors. Should one of these items break, the homeowner can file a claim and expect to pay only the service fee.

There may be appliance age or proof of maintenance stipulations for these appliances, so homeowners should be aware of what the warranty company requires. Also, homes with more than one set of appliances, such as those with kitchenettes or bars, may only be eligible for coverage on their main appliances in the kitchen.

System coverage is when home warranties cover the major systems within the home. This includes electrical, plumbing and HVAC systems, primarily. However, other systems may be eligible to add on, such as roofing, central vacuum, fire alarm and septic systems. These items will cost more to cover on a monthly basis, but they can provide peace of mind for homeowners.

These items are less likely to require proof of age, but they may require specific maintenance schedules in order to be covered under the home warranty.

Basic home warranties arent comprehensivesome parts of your home wont be covered. If you want extra coverage, you can add it onto your pan for an additional fee, ranging from a few dollars a month to $30 or more, depending on the specific add-on.

Each companys plans work differently, but you can often choose from add-ons like:

Home warranties are designed to cover common repairs, and in the right circumstances, they can save the homeowner money over the course of the year. Here are some of the most common repairs and their associated costs, with labor and materials combined:

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How Much Does A Home Warranty Cost In 2024? - Forbes