How Much Money Can I Save with a Home Warranty?
Protect your budget with an HWA home warranty
Having a home warranty safeguards you against unexpected and costly repairs of your home's major appliances (including your refrigerator, washer, dryer, dishwasher, etc.) and mechanical systems (such as your heating, plumbing and air conditioning). A warranty covers malfunctions as well as normal wear and tear over the life of a product.
If something in your home breaks down, you simply pay a trade call fee for a technician to diagnose the problem. If the technician determines that an appliance or system covered in your home warranty contract is the source of the issue, that appliance or system is repaired or replaced at no additional cost to you. HWA's trade call fees vary by state and policy, and start as low as $60.
Without a home warranty home repair costs can escalate quickly. There's the diagnostic fee to have a technician come to your home to determine the problem, plus the hourly rate for the technician's labor once the problem is assessed, plus the cost for parts and/or a replacement product.
To get a clearer picture of how much you could save by investing in a home warranty, check out the list below highlighting common issues that can happen at any time, and the typical cost of repair and/or replacement.
You realize one morning that your refrigerator and freezer are no longer keeping your food cold. This isn't a problem that can be put off, which means a surprise expense added to your budget. How much? It could be more than $600 to repair, or $1,500 or more to replace, depending on the style of the appliance.
You load the dishwasher only to find that after it's run, your dishes still aren't clean. You literally rinse and repeat, but with the same result. Your dishwasher is meant to add convenience to your daily life because you don't have the time to hand wash everything. So once again, you're left to spend roughly $200 for repair, or $600 or more for a replacement dishwasher.
Ever step into the shower only to realize you don't have hot water? Not fun. And you certainly don't want to make cold showers your new routine. Unfortunately, the typical new water heater costs around $850.
The weather outside is frightful, and inside … it's just as frightful, because your furnace just quit. Delaying this essential repair could result in even more expensive repairs due to frozen pipes, not to mention lots of extra laundry due to the number of layers you're wearing to keep warm. Depending on the problem, you could be parting ways with a lot of cold, hard cash. Simple furnace repairs average around $450, and total furnace replacement can cost $6,500 or more.
In addition to the costs outlined above are the hassles that go with finding and scheduling the right technician, purchasing the right part and/or deciding on the best new appliance, shopping around for the appliance you need to ensure you're getting the best price — and doing it all while your home isn't operating the way you expect it to.
The benefits of a home warranty don't stop at cost savings and lower stress levels. Simply having the warranty in place can even provide added value should the time come to sell your house, and minimize the chance of any post-sale disputes.
HWA Has You Covered
A home warranty from HWA provides security against the unexpected expenses of inevitable home repairs. Whether you're buying, selling, or already in your home, we have a plan to fit!View Plans