Best Home Warranty in Lexington, KY

Home warranty in Lexington

A home warranty in Lexington covers appliances and systems that break down from wear and tear and are no longer supported by a manufacturer’s warranty. It is different from homeowners insurance, which covers loss due to events including fire and theft.

Home warranties in Lexington are most commonly purchased by new homeowners, owners of older homes, rental property owners and realtors. You can buy a home warranty at any point during homeownership.

Companies selling home warranties in Lexington usually offer at least two plans, differing in what appliances and systems are covered. You can also customize a plan to meet your needs and budget.

Home warranty companies also offer add-on coverage for things like pools, spas, septic pumps, well pumps, guest units and even electronics.

Are home warranties worth it?

Whether a home warranty is worth it depends on:

• The cost of the plan
• What’s covered
• How new your household appliances and systems are and how likely they are to break down from wear and tear
• The amount of your service call fee (similar to a deductible)
• The maximum coverage limit of your plan
• Limitations and exclusions of your plan

Those with a home warranty in Lexington may find that a home warranty pays for itself with just one major repair or replacement or a series of smaller ones. Others may decide their appliances and systems are at low risk for problems and are willing to pay 100% out of pocket.

Home much does a home warranty cost in Lexington?

A home warranty in Lexington costs between $300 and $600 pear year. The more inclusive your coverage and/or the lower your service call fee, the higher the cost.

Most home warranty contracts last for one year. You can pay monthly or annually. Home warranty companies may offer savings for paying for a full year’s coverage up front.

What to do when you need repairs

If you have a home warranty and a covered appliance or system breaks down, you can make a claim online or over the phone with your home warranty company. You pay a set service call fee (usually $50 - $125, depending on your contract), and the home warranty company sends a qualified local contractor to diagnose the problem. As long as coverage applies, the home warranty company pays for the repair or replacement.

What to look for when choosing a home warranty company

Before choosing a home warranty company in Lexington, read reviews to learn if customers are satisfied with their plans and service request outcomes.

Make sure your contract is easy to understand, with clear explanations of coverage, exclusions and limitations. Pay attention to the effective date of the warranty, which is not always the purchase date. Find out if you can cancel anytime and if your contract is transferable.