What to know about buying a home warranty in Nevada
As a home buyer in Nevada, you are juggling a lot. From where to live to getting a loan to negotiating closing costs to finding the right insurance company, there's a lot of things to keep top of mind. And in the current environment with home renovations pushing home repair pricing to new highs and limited contractor availability, it is important to ensure you not only find the right home, but that you have access to a contractor network that can keep your crucial home systems and appliances in working order.
Within this article, we walk you through the costs and services you can expect through home warranty insurance and why it's important that you are covered when buying a new home in Nevada.
Why is a home warranty necessary in Nevada?
Home warranty is similar to home insurance by helping homeowners protect themselves against financial risk. A warranty plan covers the repair or replacement of your home's systems and appliances when they break due to normal daily use. A warranty plan can be added to a home at any time, no matter the age of the home.
When you have a warranty issue, your warranty company will send a service contractor to your home to assess the problem. Whether the issue is with air conditioning, a garbage disposal or a garage door opener, you will need to pay your deductible or service fee to the contractor for the assessment. If the repair or replacement is covered, your warranty company will pay for any additional costs.
What should you look for in a home warranty policy in Nevada?
Your Nevada home warranty provider should have a range of options from a basic plan that covers most appliances to a systems plan that will cover important, and more expensive items, such as electrical, plumbing, water heater and air conditioning.
Before you get started, reviewing your coverage in comparison to home insurance will help you better understand where you have financial exposure. Most standard homeowners insurance policies cover the following:
- Frozen plumbing
- Fire and smoke damage
- Wind or hail damage
- Objects that have fallen
- Water damage from plumbing, water heater, heating or air conditioner
Home insurance does not cover the everyday wear and tear you and your family impose on home systems or appliances. This is where a home warranty plan is a lifesaver. Your home warranty service contract should mitigate many of the gaps you have from homeowners insurance, giving you protection against unforeseen breakdowns.
What are the pros of having a home warranty in Nevada?
A homeowner in Nevada can certainly benefit from home warranty insurance by having a service contract that includes a water heater and an HVAC. In a majority of the state, blistering hot days of summer with cooler summer nights can cause these systems to work overtime. And when the temperature soars past 100 degrees, the last thing you want to get caught without is an air conditioner.
While home warranty coverage for an air conditioner may be optional for many northern areas of the United States, for Nevada homeowners it is an absolute necessity. Be sure to look for a systems plan or a combination plan since basic plans do not cover HVAC systems.
On average, how much does a home warranty cost in Nevada?
A Nevada home warranty costs $420 to $745 a year. Home warranty coverage that includes a systems plan, which includes air conditioning, a heating system and a plumbing system, cost more than a basic home appliance plan. Most companies will allow you to pay for your home warranty policy on a monthly basis.
Optional coverage for items, such as pool or well pump, outside of your standard warranty plan can be added separately by your home warranty company.
Deductibles, also known as a service fee, costs between $100 to $150. You only pay for a deductible when you have a repair request. The higher the deductible the lower the monthly cost for the plan. If you believe you will use the warranty more than a couple of times a year, a plan with a lower deductible will give you the lowest annual cost.
Learn more about the cost of home warranty coverage by Cinch Home Services.
How long does it take to file a claim for a home warranty in Nevada?
Most reputable home warranty companies offer the capability to file a claim online, though some companies may only look at these claims during normal business hours.
At Cinch Home Services, we offer three ways for you to initiate your service request online. You can provide your warranty plan number and billing zip code, your phone number and property zip code or your last name, property number and billing code. Once we have this information, you'll be able to start your claim process 24/7/365.
Alternatively, any homeowner with an active warranty plan can file a claim 24/7 by phone at (844) 324-5688.
Where can you find the best home warranties in Nevada?
When your air conditioner or garbage disposal is not working properly, the last thing you want to do is scramble to find a repair person. A service contract with one of the best home warranty companies will ensure your appliances and home systems are top priority.
Before buying a home, make sure you do your research for the best home warranty that meets your needs and budget.
Cinch Home Services is accredited by the Better Business Bureau (BBB) and maintains a top rating on ConsumerAffairs.com. With over 40 years in the home warranty, many Nevada homeowners trust Cinch for their industry-leading six-month workmanship guarantee on covered repairs.
Learn more about Cinch home protection plans.