Proper retirement planning hinges upon careful money management. The better we can save on daily, weekly and monthly expenses, the more we can put away into our 401(k), or IRA retirement funds. A sizable percentage of Americans are homeowners. This is one of the defining characteristics of a first world economy, and it comes with many benefits.
Homeownership eliminates the ‘zero equity’ effect of renting. However, owning your own home comes with certain duties and responsibilities. It is a well-known fact that too many people pay rent for too long, and end up with nothing when it comes time to retire.
With a minimal down payment, it is possible to pay off a property in full by the time you retire, leaving you with a sizable nest egg that can be rented, sold or downsized as part of your asset portfolio. The contents of your home are another expense item that need to be considered. Home warranty services provide coverage for the appliances, systems, and various components within the home.
How Can a Home Warranty Service Provider Help You Reduce Costs?
American Home Guard is one of the most recognizable home warranty providers in the US. It has been in operation since 2013, but already it boasts a large customer base. The hallmarks of a quality home warranty service provider include things like credibility, cost-effectiveness, variety of plans, coverage, policy (terms and conditions), and unbiased customer reviews.
American Home Guard offers fully comprehensive coverage to US customers across the union, except for Minnesota, Texas and Washington state. Many home warranty companies offer their services at an affordable annual rate, but it’s their coverage, responsiveness and credibility that needs to be considered.
For starters, a home warranty plan is worth precious little if the home warranty provider does not cover the most important appliances and systems in your household. This American Home Guard Review covers every aspect of this home warranty provider’s services. The cost of American Home Guard is $530 per annum for the white or red plan, and $600 per annum for the blue plan.
This puts it well within the affordable ballpark range, and the coverage is extensive. Clients can acquire additional coverage for specific appliances and systems in the home.
The call out for the is $65 for each item, and that’s also industry standard. Given that American Home Guard is a relatively new entrant on the scene, there aren’t that many reviews of the company’s services. American Home Guard is currently not accredited by the Better Business Bureau (BBB), but it has garnered positive reviews from multiple websites including Consumers Advocate (4/5) and Consumer Affairs (4/5).
What Items Does American Home Guard Cover in Your Home?
Since the whole point of a home warranty is coverage, it’s important to choose a provider that gives you the widest possible coverage of your devices, systems and equipment. American Home Guard offers coverage of the main functional components of AC units, provided they don’t exceed a 5-ton capacity. Electrical systems are also covered in the warranty, and include things like switches, breakers, outlets, wiring, junction boxes etc. The heating system is also subject to the 5-ton limit, and minor parts such as timekeepers, valves, pipes and switches are not included. The warranty does not cover solar heating systems either.
Saving Thousands of Dollars on Home Systems & Appliances
In terms of plumbing, American Home Guard covers things like pipes, latrine tanks, replacement of latrine bowls etc. Any damage caused by roots are not covered by the home warranty provider. For all plumbing and electrical systems, appliances and so forth, the replacement coverage or repair is limited to just $150 for the first 3 months of the contract.
This allowance will increase to $500 per contract after the first 3 months of coverage. When it comes to home appliances, water heaters, built-in microwaves, dryers, washers, refrigerators, dishwashers, and garbage disposal units are all covered by the American Home Guard warranty plan.
This coverage alone can save homeowners thousands of dollars in out-of-pocket expenses without a home warranty. This money is the equivalent of guaranteed savings which can easily go towards your 401(k), Roth IRA or traditional IRA account. One thing that is guaranteed: appliances, devices, plumbing and electrical systems will go on the blink, and they are extremely costly to repair or replace.
Clients have the option of adding additional coverage options for all sorts of household systems including central vacs, second refrigerators, sump pumps, refrigerators and icemakers, sprinkler systems, and more.