Find the Best Home Warranty Companies in Richmond, VA

Home warranty coverage in Richmond

Richmond homeowners can benefit from a home warranty in a number of ways. Many people buy home warranties to protect themselves from large repair bills. For example, if you have a warranty and your furnace breaks down in the middle of January, you can avoid a significant expense right after the holidays. Instead, all you have to do is pay a small service fee to get it fixed. Conversely, for home sellers in Richmond, a home warranty is often a way to help sweeten the deal for buyers and get top dollar.

A home warranty helps cover the cost of repairing or replacing home systems, like your heating, cooling, plumbing and electrical systems, as well as major household appliances, like your refrigerator and dishwasher. If something breaks, the policyholder files a claim and a service technician assesses the issue. The warranty holder pays a service fee for the visit, but the warranty company covers the rest. Most warranty holders prefer to pay a monthly premium rather than pay for costly repairs out of pocket.

How to get a home warranty in Richmond

When buying a home warranty, take the following steps to make sure you choose the right one:

• Determine your coverage needs. How old are your appliances? Do they still have manufacturers’ warranties? Which appliances or home systems would be expensive to replace? What condition are your home systems in? How old is each system? Use your answers to determine what type of plan and how much coverage you need.
• Research several companies. Before choosing a Richmond home warranty plan, ask your friends and family for recommendations, and read online customer reviews to find the right home warranty company for you. Get quotes from multiple warranty providers and compare the plans they offer. Find out how much they charge for service fees. Also, determine what their plans cover and what they don’t. Do they cover the entire appliance/system or only certain parts?
• Check coverage limits. Some warranties have coverage limits on appliances, systems or both, while other warranties have a single maximum coverage limit for the entire plan. Look up coverage limits for each system and appliance in the contract. Make a note of these maximums, because you’re responsible for any expenses exceeding them.

Most home warranties in Richmond are one-year contracts with a 30-day waiting period before coverage starts.

Richmond home warranty costs

Richmond home warranties cost between $37 and $57 a month on average or about $565 annually. Comprehensive home warranties that cover both home systems and major appliances cost more than plans that only cover either. If you’re looking for a plan that costs a little less, consider a higher service fee, too.

Service fees are a separate cost that ranges from $60 to $150 per visit. Any time you file a claim to have a technician come to your house, you must pay a service fee.

We asked for quotes from America's 1st Choice Home Club, HMS Home Warranty and American Home Shield to see how much they charge for a plan that covers systems and appliances in Richmond at the time of publishing. Your exact quote might vary.

• America's 1st Choice Home Club: The AFC Home Club Platinum Plan costs $47.92 a month in Richmond, with a $100 service fee.
• HMS Home Warranty: The HMS Base Plan costs $45.75 a month in Richmond, with a $100 service fee.
• American Home Shield: The American Home Shield Combo Plan costs $49.99 a month in Richmond, with a $100 service fee.

Richmond home warranty FAQ

What is a home warranty?

A home warranty is a service contract that covers the cost to repair or replace household systems and appliances like ovens, refrigerators, plumbing and air conditioners. You can choose a plan that covers either home systems or appliances, or you can select a plan that covers both. Coverage, monthly premiums and service fees vary by company. Most warranties have the option to add additional coverage for items like pools or septic systems, too.

Do I need a home warranty in Richmond?

It’s not necessary, but many Richmond homeowners can benefit from a home warranty, especially if they’re living in a historic neighborhood like Union Hill or Monument Avenue. Appliances and household systems stop working for all kinds of reasons. Sometimes it’s an easy, inexpensive fix, and sometimes the furnace goes out in the middle of winter, forcing you to pay out thousands on the spot. A home warranty helps you avoid these costs, which means your warranty becomes more valuable the more problems you encounter.

How does a home warranty work?

The process is simple. First, you find a home warranty company with a plan you like, sign the contract and pay the monthly premium. If a home system or major appliance covered by the warranty breaks, file a claim. The company dispatches a service provider to your house to diagnose the problem and make the necessary repairs or replacements. You pay the technician a service fee, and the warranty company takes care of the remaining balance.

What is the difference between a home warranty and homeowners insurance?

A home warranty pays for repairing and replacing a home's appliances and systems when they break down. Conversely, homeowners insurance covers damage to your home and belongings from wind, hail, certain natural disasters, theft or vandalism. Home insurance also covers your legal liability in many cases.

What does a home warranty cover?

A combination home warranty covers home systems, including heating, cooling, plumbing and electrical systems, as well as major household appliances, like refrigerators, stoves and dishwashers. However, the appliances and systems a warranty covers vary by company and by plan. For instance, some warranties cover washers and dryers, and others consider washers and dryers an add-on coverage. Generally, though, add-on coverage options include pools and spas, septic systems, and secondary appliances.