Average Cost of Home Warranty 2024 | Home Warranty Plan Costs

Understanding the Average Cost of a Home Warranty Plan in 2024: A Guide to ARW Home Plans

So far, the 2024 summer months have showcased staggering temperatures nationwide. News outlets across the country have reported record highs in nearly every major city. Now, more than ever, your home’s health is vital to ensuring comfort and protection – regardless of seasons coming and going. Hearing your central AC system sputter to a stop these summer months is reason enough to panic: both for having to endure without cool air and the price of the associated repair costs. The same may be said as we look forward to the Fall season and prep our homes for heating and other essentials.

As a homeowner, safeguarding your house is crucial, and one effective way to do this is through a home warranty plan. In 2024, ARW Home continues to be a trusted provider, offering comprehensive plans that cover various home systems and appliances. Let's dive into the average costs of a home warranty plan in 2024 and the essential coverage options homeowners should consider.

What is a Home Warranty?

A home warranty pis a plan that protects you from large unexpected repair and replacement costs for many of your critical home systems and appliances. While homeowners insurance covers things like damage from fires or storms, a home warranty steps in when your everyday appliances and systems break down due to normal wear and tear.

Think of it as a handy backup for those times when your washing machine starts making weird noises or your furnace decides it’s had enough just as winter hits. Instead of stressing out about the cost of repairs or replacements, you just call up your home warranty provider, and they send a pro to fix the problem.

Getting a home warranty plan is pretty straightforward. You pay a monthly or annual fee, and in return, you get coverage for a range of home systems and appliances. Plans can vary, so you can pick one that fits your needs—whether you want basic coverage for major systems like plumbing and electrical, or something more comprehensive that includes all your kitchen and laundry appliances.

When something breaks down, you usually pay a small service fee for the repair visit, but that’s way less than what you’d pay for a major repair or a brand-new appliance. It’s all about making homeownership a little less stressful and a lot more predictable.

Find more information on home warranties here >

Average Cost of ARW Home Warranty Plans

ARW Home provides several home warranty plans, catering to different needs and budgets. The average cost of these plans in 2024 can be broken down as follows:

1. ApplianceMAX: for approximately $49.99 a month, this plan covers key appliances like refrigerators, ranges, washers and dryers in your kitchen and laundry room.
2. SystemsMAX:       for approximately $59.99 a month this plan covers critical internal home systems such as your HVAC units, ductwork, water heaters, and internal plumbing systems.
3. TotalMAX: This plan provides the most comprehensive coverage, providing full coverage across your internal systems and appliances for the best value at about $74.99 a month.
4. Ultimate Electronics Plan: For $24.99 a month, this plan provides coverage on unlimited electronic devices in your home including home computing and entertainment.
5. Water & Sewer Line Protection Plans: For $23.99 a month, this plan covers the water line and sewer line that run from your house to the water meter and sewer tie-in.

Shop Our Home Warranty Plans Here >

Average Cost of Home Repairs Without a Home Warranty

Without a home warranty plan, the cost of home repairs can quickly add up and become a significant financial burden. Major systems like HVAC units, plumbing, and electrical systems are essential to the functioning of your home, and repairs for these can be particularly costly. For example, fixing a broken HVAC system can range from $150 for minor repairs to over $5,000 if the entire unit needs to be replaced. Plumbing issues like a burst pipe or a failing water heater can also set you back thousands of dollars, not to mention the potential water damage that might need addressing.

Appliances, too, can be surprisingly expensive to repair or replace. A broken refrigerator might cost between $200 and $1,000 to fix, and if it’s beyond repair, replacing it can be a hefty expense. Dishwashers, washing machines, and ovens also come with high repair costs, often reaching several hundred dollars each.

Without the safety net of a home warranty plan, these unexpected expenses can strain your budget and cause a lot of stress. Having to dip into your savings or take on debt to cover these costs isn’t ideal, making a home warranty plan a valuable investment for financial peace of mind.

Home Warranty Plans: Essential Coverage to Consider

When choosing a home warranty plan, it's important to consider what systems and appliances are most critical to your home. Here are key coverage areas to think about:

1. HVAC Systems: Given the high cost of repair or replacement, ensuring your heating, ventilation, and air conditioning systems are covered is vital.
2. Electrical Systems: Faulty wiring or electrical failures can be both dangerous and expensive. A good warranty plan will cover major electrical components.
3. Plumbing Systems: Plumbing issues can lead to significant water damage. Coverage for leaks, clogs, and fixture repairs is essential.
4. Kitchen Appliances: The kitchen is the heart of the home, and covering major appliances like refrigerators, dishwashers, and ovens can save considerable money in the long run.
5. Laundry Appliances: Washing machines and dryers are essential household items that can be costly to repair or replace. Including them in your coverage can be beneficial.
6. Specialty Items: For homes with pools, spas, or unique systems like water softeners, ensuring these items are covered can prevent unexpected large expenses.

Why Should You Consider Home Warranty Plans?

Home warranty coverage is like having a safety net for your home’s most important assets and every homeowner should think about the benefits of home warranty options.  

Picture this: your heater breaks down during the middle of the coldest winter months, or your fridge quits just before a big family gathering. Without a home warranty, you'd be shelling out a ton of cash for those repairs or replacements. But with a good home warranty plan, you can breathe easy knowing that when something goes wrong, you’re covered.

It’s all about peace of mind and protecting yourself from those unexpected, and often pricey, home repairs. Trust me, having that extra layer of security is worth it.

Making the Right Choice for Your Home Warranty

Why ARW Home? When selecting a home warranty plan with ARW Home, consider the age and condition of your home's systems and appliances, your budget, and the level of risk you're comfortable with. The monthly premium is a small price to pay for the peace of mind that comes with knowing you're protected against unexpected repairs and replacements.

The average cost of a home warranty plan in 2024 varies depending on the level of coverage you choose, but generally ranges from $49.99 to $89.99 per month, with optional specialty add-ons. By carefully considering your home’s specific needs and opting for comprehensive coverage, you can ensure that you are well-protected and can enjoy your home with confidence.