Home warranties are supposed to provide peace of mind.
Cheryl Reed with Angie's List says plenty of people are happy with their warranty company and the service they get. But many others wind up disappointed and frustrated when something breaks.
"The ones who are not happy are the ones that didn't understand how the warranty worked and when they went to use it, they were disappointed when their expectations weren't met."
Reed says that expectation gap can often be eliminated if the homeowner reads the warranty to know what's covered and how the process works.
- You don't get to pick the repair technician, the warranty company does. If you have a trusted plumber, electrician or appliance service, a home warranty may not be for you.
- You don't get to decide whether the broken appliance is repaired or replaced - they do.
- There's also a charge, normally $50 to $100 for each service all.
For more information
Home warranties don't always provide peace of mind
National Home Service Association: Frequently Asked Questions
Angie's List: 4 tips to avoid warranty woes
Angie's List: 'Whats covered in a home warranty?