Many people purchase home warranty coverage to keep from paying for expensive and unexpected home repairs. And while some homeowners swear by having a home warranty, others have chimed in to call them total rip-offs. So, how can you tell if home warranties are worth it?

While it’s impossible to tell if you’ll ever be glad to have a home warranty without a crystal ball, there are some definitive signs that can point you in the wrong direction. We’re going to help you decide if a home warranty is right for you by going over the most common pros and cons of home warranty coverage.

Pros of a Home Warranty

Top on the list of home warranty pros is how affordable they are for homeowners. Especially when you compare the yearly cost of a home warranty to how much major home repair can end up being. Monthly payments are a small sacrifice to pay to eliminate stress stemming from sudden appliance breakdowns.

When you have a home warranty, you can simply call the provider and have them send out a local repairman to take care of whatever issue you might be having. You’ll get expert service without having to pay out of your own pocket. For many people, just the peace of mind that comes with knowing they’re covered in an emergency is the only home warranty pro they need to hear.

In the long term, a home warranty saves you money because the extensive repairs needed are usually much pricier than monthly home warranty payments. However, you need to remember that home warranties vary by provider. To get true value, you need to make sure you’re dealing with a reputable and licensed home warranty company.

Cons of a Home Warranty

Many home warranty providers insist that you work with a repairman in their network of professionals. Hiring a repairman out of the provider’s network means throwing away the warranty, whether the repairman’s job was satisfactory or not. But most homeowners would rather work with someone in-network as it is, in order to make sure they’re getting a pro.

Not every home repair is going to qualify for warranty coverage. Most home warranty policies don’t cover major repairs like the roof, underground plumbing, chimney repair, or basement issues. But even with that being the case, most homeowners are glad they were covered for even the smallest of unexpected repair concerns in their home.

The Home Warranty Bottom Line

No matter what you’ve heard about home warranties, good or bad, you need to do your research before purchasing coverage for your own home. Take a look at in-depth home warranty reviews, spend some time looking into top-rated providers, and don’t be afraid to go with your gut. Just remember that the best home warranties are usually those with the highest ratings!