Here at Landmark, we get asked how much a home warranty costs often so we thought we would break it down for you! The average cost for a home warranty ranges from $350-$600 nationwide.
What does a homeowner’s money buy them when it comes to a home warranty plan?
The cost of a home warranty is determined by the:
- Extent of coverage
- Type of plan
- Additional benefits/services
- Size of the home
Each of these elements go into the price of a home warranty. The plan a homeowner chooses will come with a contract, which will explain in detail, what coverage has been purchased.
With a Landmark home warranty, homeowners are given the option to add á la carte coverage to their home warranty plan. This means homeowners can customize their own coverage, to an extent. It allows homeowners to purchase coverage on additional appliances without having to upgrade to the largest and most expensive plan.
Every home warranty company is different, and has different prices. However, across the board, the less money you spend on a home warranty, the less coverage you will have on your home.
What is a home warranty’s annual cost?
A home warranty costs between $350 and $600 on average. According to BankRate.com, most home warranties are around $400 for basic coverage, but cover over $20,000 worth of a home’s systems and appliances.
When purchasing a home warranty with Landmark, homeowners have the option of paying the yearly deductible upfront or breaking it up into monthly payments.
A $350-$600 payment can be daunting because it’s a big sum of money to pay all at once. No need to worry, this is why Landmark offers monthly payments. If homeowners want to calculate what their monthly payment would be for a certain plan, take the yearly payment total and divide it by 12. With a monthly payment there is a $5 processing fee per month; however, you can use the promo-code below to get that fee waived.
What is a home warranty service call fee?
For many home warranty companies, when a homeowner opens a service request under their home warranty contract, they will be required to pay a service call fee, but what is that?
A service call fee is a flat, affordable rate that is paid when service is requested. The fee covers the labor cost for the contractor to come out and diagnose what caused the system or appliance to fail. In most cases, this is the only payment a homeowner will make if the failed system or appliance is covered under their contract.
How much is a home warranty service call fee?
The price of a home warranty company’s service call fee depends on the company and its plans. Landmark Home Warranty’s service call fees range from $60-$100, depending on state and plan purchased.
What are the average savings with a home warranty?
The amount of money homeowners save while having a home warranty is substantial. On average, homeowners with a Landmark home warranty will save $96 on appliances, $241 on an HVAC system, $248 on an electrical system, and $225 on a plumbing system.
In the last year, Landmark approved 94% of claims and paid out over $19 million on opened claims.
Request a quote, or download a brochure here to get started! Here is a promo code to waive that $5 per month processing fee when you sign up for monthly payments.
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