How to Choose an Ohio Home Warranty
A Ohio home warranty could provide valuable coverage on top of your homeowners insurance—or it could be a waste of your money.
Table of Contents
- What is a home warranty?
- How to choose an Ohio home warranty
- The pros and cons of home warranties
- How to find affordable homeowners insurance in Ohio
- FAQs
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A home warranty in Ohio may seem like a good idea to protect your appliances and systems that are not generally covered by your home insurance. But, frequent loopholes and less than clear contracts may mean home warranties are more hassle than their worth.
Homeownership has a lot of unforeseen costs. From homeowners insurance to monthly mortgage payments, you can end up paying quite a bit each month just to live in your home—let alone when something goes wrong.
That’s when a home warranty may seem like a good idea because it could cover expenses for major repairs. However, there are often loopholes that would mean you’re still on the hook for a chunk of change.
To help explain the nitty gritty of protecting your home, the
super app
for home insurance
, Jerry
, has created this handy guide to everything you need to know about home warranties in Ohio. Are you overpaying for car insurance?
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What is a home warranty?
A home warranty is a one-year service contract that usually covers repairs and replacements to appliances and home systems such as heating, ducts, plumbing, major kitchen appliances, and more. With the purchase of a home warranty, you are banking on the warranty to help cover a major cost of those expenses.
Home warranty vs. home insurance
It may seem like a home warranty and home insurance are the same thing, but they have some
key differences
. Homeowners insurance doesn’t always apply to appliances and systems—it covers the structure and its contents against
specific perils
. It may cover replacing your water heater in an earthquake, but it won’t replace a water heater whose bottom has been corroded after extended daily use. On the flip side, a home warranty is specifically designed to repair or replace those elements that will eventually wear out. You should note that there is a gray area in many home warranty contracts because a home warranty will not cover systems or appliances damaged due to homeowner negligence (or intentionally, for that matter).
Do you need a home warranty in Ohio?
In Ohio, homeowners can choose whether or not to get a home warranty—and they
don’t always pay out the way you’d hope.
Sure, it can give you peace of mind that expensive components may be covered where your insurance policy stops, but the hard truth is that home warranties aren’t always worth the money. If you’re thinking about buying a home warranty, you should carefully explore your options. Suppose you don’t have any extra savings to cover unexpected maintenance costs associated with your home. A home warranty could be the best way to gain some financial safety while you save up for your emergency fund.
However, if you have enough money to pay for the warranty (either upfront or on a payment plan), it might be a better choice to save the premium as your backup plan. A home warranty could be the best way to gain some financial safety while you save up for your emergency fund.
How to choose an Ohio home warranty
Should you decide that a home warranty is a viable route, you should compare plans from three different companies. You want the plan with the best coverage options, customer service, and lowest payments—including service fees! Keep in mind that you may not find the best of all three at the same company.
To help you, we’ve created the table below for an in-depth comparison of the best home warranty companies in Ohio. Make sure you read the contract carefully before signing any home warranty agreement. You want to ensure you’re getting the coverage you need without any unexpected terms or conditions.
Company | Monthly payment | Annual premium | Service fee | States not covered | BBB rating | Limits | What it’s best for |
|---|---|---|---|---|---|---|---|
Choice Home Warranty | $36-$44 | $517-$660 | $60-$85 | Washington | B | $500-$3,000 | Fast response times, basic plan covers both systems and appliances |
American Home Shield | $40-$58 | $300-891 | $75-$125 | Alaska | B | $1,000-$6,000 | Longest reputation, highest coverage limits, lower chance of service denial |
Select Home Warranty | $36-38 | $630-$765 | $60-$75 | Nevada, New Mexico, Washington, Wyoming | B | $500-$2,000 | Discounts and response times |
Liberty Home Guard | $40-$60 | $700-$960 | $65-$125 | Washington, Wyoming | A | $500-$2,000 | Best customer service, tons of coverage add-ons |
Cinch | $35-$62 | $420-$816 | $75-$150 | Alaska, Hawaii | B | $1,000-$2,000 | 180-day workmanship guarantee and tons of free perks |
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The pros and cons of home warranties
If you’re buying a home in Ohio, you could be hearing conflicting opinions about home warranties. Maybe your agent is telling you that you should buy a home warranty, but veteran homeowners have said that a home warranty contract will cost you more money in the long run.
As with most things, getting a home warranty has its tradeoffs and making the best decision for you depends on your finances, preferences, and overall circumstances. Let’s evaluate the arguments for and against home warranties.
Pro: A home warranty can take the guesswork out of hiring contractors
Let’s say your 20-year-old water heater has finally rusted out, and your basement is sopping wet. While you're cleaning up the mess and trying to figure out how you’ll have a hot shower, the last thing you want to do is to start scrolling through local contractor listings.
This is where a home warranty can help: they’ll connect you with the best contractors with little work on your end.
Pro: No need for an emergency fund
There’s no debating that a home warranty can provide some financial security in the event of significant repairs. On average, it costs between $5,000 and $10,000 to replace a home HVAC system. Similarly, the $200 to $500 to repair a washing machine could put a severe dent in your accounts if you don’t already have that money set aside.
Even after paying the service fee, those massive costs can be heavily reduced with a home warranty.
Con: You won’t deal directly with contractors
On the downside, your home warranty company acts as the middleman between you and the contractor. The impending game of telephone inevitably leads to miscommunication, slowdown, and extra expenses. As if that’s not frustrating enough, you may not be able to choose any of the replacements the contractor uses.
If you’d rather work directly with the contractor making repairs in your home (or you want to upgrade any of the replacements), you would be better off skipping the home warranty.
Cone: Low coverage limits and high service fees
A home warranty safety net may not stretch as far as you think. Because the average coverage limits range from $500 to $5,000, you may not be able to get the compensation you need to cover big-ticket repairs.
Con: Warranty companies can deny coverage
Here’s where home warranties get messy: companies can routinely deny claims based on negligence—even if you’ve done your best to maintain your appliances and systems. Many contracts allow the company to restrict coverage if the previous owner didn’t maintain the appliance or system.
Despite how good the terms on your warranty may look, getting compensation can be impossible in many cases. So, the trouble of the home warranty may not be worth it.
How to find affordable homeowners insurance in Ohio
Choosing to get a home warranty can be tough—and it's certainly not the best plan for everyone. That said, buying
homeowners insurance
is vital for everyone that owns a home. With Jerry’s help, shopping for insurance is just as easy as texting! As a licensed insurance broker,
Jerry
helps homeowners compare custom quotes from dozens of the top insurance providers in the country. With the Jerry app, you’ll find the lowest rates around, and you can shop for lower insurance premiums while you’re at it! RECOMMENDED
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