Before purchasing a home warranty, knowing how long it will last and when to renew your warranty is crucial to saving money and transition smoothly between services. However, finding the relevant information online may be difficult for many homeowners. Thus, this article will cover the tenure and deadlines of home warranty in detail

renew your warranty, how long does a home warranty last, home warranty no waiting period

How long does a home warranty last?

Before deciding on the home warranty you will purchase, it is crucial to note the tenure it offers. Otherwise, you may consider buying something but getting a completely different warranty in return. The best way to understand the tenures is by considering different types of home warranty plans offered by different companies:

In most home warranty contracts, the following details are present:

Does a home warranty have no waiting period?

Different home warranties have different waiting periods before the coverage begins. Only a select few companies offer coverage periods beginning one day after the purchase. Most tend to have coverage periods beginning 30 days after the purchase. Service call fees and repair costs are likely higher than their counterparts for companies with no waiting period. Otherwise, the home warranty provider has a greater risk of losing more money than they make.

[elementor-template id=”10660″]

How much time is available to cancel or renew a home warranty?

Most companies offer 30 days to cancel with a refund or renew your warranty. The cancellation policy is very important because you may not receive a refund if you exceed the allowed cancellation period. The cancellation period offers you the chance to rethink if the service suits your needs. In case you are dissatisfied with the purchase, you may get a refund through the refund policy. In most cases, homeowners prefer not to cancel their warranties for the first year.

Emergency home warranty without a waiting period

Around 79 percent of the home warranty providers allow emergency services. Usually, such services are opted by people who have already experienced an appliance or system breakdown and required the home warranty to cover it. Call your contractor to reach you in such cases. Home warranty providers also offer 24/7 customer support to avail of emergency home warranty services. In most cases, you can get an emergency service within 48 hours.

Maximum time to submit a home warranty claim

Different home warranty providers offer different times to submit a home warranty claim post appliance breakdown. However, most firms offer one day to submit the claim. Thus, in case of a breakdown, be quick to submit the claim, or you may not get a chance to avail the coverage for the broken appliance.

[elementor-template id=”10752″]

Average repair time

Most companies offer as low as a two-day average repair time. However, in some cases, repair times may be as high as 30 days, depending on the home warranty package you have opted for. However, such companies offer cheaper premiums and service fees if a longer time is taken to make the repairs. Repair timeline can vary significantly on holidays. You may experience longer service times in the holiday period.

Till when can you renew your home warranty?

Most companies offer 30 days reservice period. However, some firms may offer reservice periods as long as a full year to gain back old customers. Select the company based on your personal preference regarding the renewal period you require. Also, you need to cancel the automatic renewal within 30 days in most cases.

[elementor-template id=”11099″]

Conclusion

Knowing your home warranty well before making the purchase helps to ensure that you get what you wanted. It also helps you with the management of the warranty and ensures that you never miss crucial deadlines. Let us know in the comments section if this article helped you make your home warranty selection.