A home protection plan secures for you repair, maintenance or replacement services on one or more home appliances. But how do you know if you should purchase a home protection plan such as a repair plan from Home Service Plus® (HSP)?
The following points make up a checklist that can help you decide if a home protection plan is right for you:
You want to cover things homeowner’s insurance doesn’t
If you’re looking for financial protection against harms such as fires, wind damage, floods or earthquakes, a repair plan is not the answer. These require at least homeowner’s insurance and possibly additional endorsements or standalone policies, as well.
Home protection plans are for appliances and home systems that fail due to wear and tear, such as:
- water heaters
- heating and cooling systems
- washers and dryers
- refrigerators and freezers
- kitchen and cooking appliances.
You want to avoid sudden repair or replacement costs
For millions of Americans, an unexpected bill of $1,000 or even $500
would force them to go into debt to pay it. That means something as common as an air conditioner refrigerant recharge could be a serious financial burden.
A home protection plan can offer protection for qualified repairs or replacement when an appliance breaks down, letting you rest easier.
You’re tired of paying trip charges
Most repair companies now charge you a baseline fee for a service call. This may be the case for contractors that are dispatched to your home through home warranty providers.
Home protection plans can offer relief from this fee–for example, HSP’s repair plans carry no trip charges or deductibles that must be met before work is performed.
Learn more about
home repair plans vs home warranties.
You don’t want to handle repairs yourself
We all have our strengths, and knowing your limitations is an admirable quality. Leaving repairs for the experts is always the safest bet, and many types of repairs, such as working with heating, ventilation and air conditioning (HVAC) refrigerant, require certified professionals.
You want to customize your home protection
One of the beauties of home protection plans is that if you do enjoy DIY-ing on some appliances, you can tailor your coverage to the items you’d rather leave to the pros. Or maybe most of your appliances are new and you want coverage for the older ones.
Whatever the reason, a customized home protection plan like HSP’s
Basic Repair Plan allows you to cover just key appliances and add multiples to match your home’s needs.
You don’t want to spend time searching for a repair technician
Once you’ve signed up with a reliable home protection plan company, your home protection plan provider schedules appointments for you with their vetted and trained representatives, so all you have to do is pick up the phone and call them or submit a request online when an appliance stops working.
Your appliances are getting old
Consumer Reports puts the average new appliance lifespan at
about 10 years, with a significant percentage experiencing problems in half that time or sooner. Moreover, manufacturer warranties tend to last only one year.
The older it gets, the higher the likelihood of a breakdown.
Your home is no longer protected by builder’s warranty
Unless you’re in a recently constructed home, it’s likely that your warranty from the builder–at least where home systems are concerned–has expired. That’s because the typical length of coverage for HVAC, plumbing and electrical systems is just two years. Related appliances themselves are usually not covered at all.
You’ve just moved in
With the benefit of a fresh home inspection, you should have a good understanding of what type of shape your appliances are in. In a pre-existing home, you may already know that you need repair help on an item or two, whereas a new home should be in sterling condition.
In either case, the prospect of having to shoulder a major expense so soon after closing and on a house can make a home protection plan pretty attractive.
You’re new to the area
If your new residence is in a different town, you won’t be able to rely on the relationships you’ve established with service providers you trust.
Having a recognizable, established brand to turn to can give you confidence in your choice of a home protection plan.
Evaluating your need
If you answered yes to several of these points–or an emphatic yes to a single point–you’re likely to find a home protection plan is just what you’re looking for.
If you’re a Minnesota resident in a covered service area, consider HSP. Our repair plans offer something for everyone, from repair for just your heating systems to no less than a dozen household appliances. We also offer replacement and maintenance services, as well as standalone services such as natural gas line repair and main drain emergency cleaning.
