Home Warranty for Renters: Is It Worth It and What Are the Options?

Discover the best plans of home warranty for renters, tailored for your investment properties. Secure your investment with comprehensive coverage.

  (photo credit: PR)
(photo credit: PR)

In the real estate game, it’s not just about owning; it’s about sustaining. Choice Home Warranty emerges as the best among the best, offering a fortress of coverage for your rental property. 

We’re not merely listing options; we’re curating a power list of different plans so you can have your pick of the top home warranty for renters. Home warranty can provide valuable financial protection, not for just mending breaks but fortifying your property’s defenses.

Home Warranty for Renters: Quick Overview

1. Choice Home Warranty - Best Home Warranty for Renters Overall

  (credit: PR)
(credit: PR)

Pros

  • Comprehensive coverage at affordable monthly prices
  • Post-repair guarantees for 30 days
  • Covers appliances and essential systems
  • 24/7 access to claims

Cons

  • Not available in Washington or California

Overview

Choice Home Warranty (CHW) isn’t just another company; since 2008, they’ve been operating in the home warranty world from their New Jersey HQ. They’ve got the whole U.S. covered, except for California and Washington, offering a duo of coverage plans plus some nifty extras.

Why Choose Choice Home Warranty?

Here’s the scoop: CHW is a big deal in the home warranty league, known for its wallet-friendly rates and solid coverage that homeowners appreciate. They’re all about giving you more bang for your buck, with essential protection for your home’s systems and appliances, and a cherry on top with their add-on services.

Plan Coverage and Cost

Choice Home Warranty offers two primary plans for homeowners:

  • Basic Plan: Starting at a monthly rate that’s less than what you’d spend on a night out, at $46.83 to $69 per month, it’s got your back for things like heating, electrical, and plumbing, not to mention your trusty dishwasher and microwave.
  • Total Plan: This is the big kahuna, covering everything in the Basic Plan, plus it throws in air conditioning, fridges, and your laundry appliances. It’s the ultimate shield for your home, and it won’t break the bank, starting at around $54.75 to $85 per month.

According to Choice Home Warranty reviews, CHW also allows homeowners to customize their coverage. You can choose optional add-ons, such as coverage for pools and additional refrigerators.

Summary

Wrapping it up, Choice Home Warranty is your go-to for a no-nonsense, comprehensive home warranty for renters. Tailor-made plans, easy claim filing, and a solid rep? CHW’s got it all for homeowners looking for peace of mind.

>>Choose Choice Home Warranty for your rental

2. American Home Shield - Best Home Warranty for Electronics

  (credit: PR)
(credit: PR)

Pros

  • Pays up to $4,000 per appliance covered with ShieldPlatinum plan
  • No limit in number of electronics covered
  • Covers old and new electronics
  • Provides power surge protection and mechanical failures

Cons

  • Only provides 5 coverage options 

Overview

American Home Shield (AHS) isn’t just in the game; they’re changing it with their top-tier home warranty plans, including the Electronics Protection Plan, backed by Allstate. This plan is a tech lover’s dream, covering everything from your smart toaster to your gaming rig.

Why Choose American Home Shield?

If your home is like a mini Best Buy, AHS’s Electronics Protection Plan is your safety net. It’s got you covered, no matter when or where you bought your gadgets, and there’s no cap on the number of devices protected.

Plan Coverage and Cost

AHS’s plans kickoff at $39.99, and for an extra $14 to $20 monthly, you can tack on the Electronics Protection Plan. This plan’s got a coverage cap of $2,000 per claim, maxing out at $5,000 per contract term, ensuring your electronics are in safe hands.

Summary

In short, American Home Shield’s Electronics Protection Plan is a powerhouse of tech protection, with Allstate’s backing and flexible service fees. Combine that with AHS’s stellar customer service and vast network of contractors, and you’ve got a home warranty that’s as comprehensive as it gets.

>>Find options of home warranty for renters from American Home Shield

3. First American Home Warranty - Best Home Warranty for Appliances

  (credit: PR)
(credit: PR)

Pros

  • Covers up to $3,500 per appliance 
  • Service fees customizable for your budget
  • No age limits for coverage of working appliances
  • Coverage options include HVAC tune-ups, pools, and more

Cons

  • Only available in 35 states

Overview

First American, established in 1984, serves over 625,000 customers across 35 states. As part of the First American Financial Corp. family, it has over 125 years of experience and support in the home warranty industry.

Why Choose First American Home Warranty?

First American Home Warranty is recognized for its comprehensive appliance coverage, which includes essential items such as refrigerators and washers, offered at competitive prices. This makes it an ideal choice for homeowners seeking reliable appliance coverage with comprehensive limits.

Plan Coverage and Cost

First American offers three plans - Starter, Essential, and Premium - with customizable service fees, providing varying coverage limits and deductibles. 

  • Starter Plan: For an average monthly cost of $35 to $60, the starter plan covers plumbing systems, electrical and heating systems, dishwashers, refrigerators, ovens, cooktops, and built-in microwave ovens. They cover up to $3,500 per appliance.
  • Essential Plan: For $50 to $75 monthly, this plan includes everything in the previous plan, plus water heaters, clothes washer & dryer, air conditioning units, and garage door opener.
  • Premium Plan: At $65 to $85 a month, the Premium Plan includes everything from the two previous plans, plus luxury appliance coverage, garage door systems, garbage disposals, faucets, and more for up to $7,000 per appliance.

Summary

First American Home Warranty offers a range of appliance coverage options with adjustable service fees to accommodate diverse budgetary needs. Its renowned reputation and positive customer feedback underscore its quality.

>>Get a home warranty from First American Home Warranty

4. First Premier Home Warranty - Best for Customization and Quick Service

  (credit: PR)
(credit: PR)

Pros

  • Affordable and competitive monthly payment
  • Tons of add-ons for customizing the perfect home warranty plan
  • Fast response time for claims
  • Discounts for upfront payments on plans

Cons

  • Basic plan may not cover essentials

Overview

First Premier Home Warranty has been in the appliance and HVAC industry for over 30 years. Though they’ve only started offering coverage for appliances in 2020, they understand that appliances aren’t built to last indefinitely. With that in mind, they offer renters affordable home warranty options. 

Why Choose First Premier Home Warranty?

First Premier stands out as a leading home warranty provider, renowned for its affordable and customizable plans. These plans are distinguished for their prompt service, striking a balance between cost-effectiveness and the need for homeowners to safeguard their home systems and appliances.

Plan Coverage and Cost

First Premier Home Warranty provides comprehensive protection for home systems and appliances through its Premier and Platinum Plans.

  • Premier Plan: Offers essential coverage for home systems and appliances.
  • Platinum Plan: Includes extended coverage for air conditioning, heating systems, and major appliances.

Customers can customize their coverage with optional add-ons such as pool/spa coverage and extra refrigerators, ensuring tailored protection for their specific needs.

Summary

First Premier Home Warranty’s competitive service fees, a wide range of optional coverages, and efficient claim handling have made it one of the best choices for a home warranty for renters.

>>Check the plans available from First Premier Home Warranty

5. Select Home Warranty - Most Comprehensive Coverage

Pros

  • Plans include roof leak repair
  • Full payment of yearly plan includes two months free
  • No age restrictions for appliance coverage
  • 60-day warranty for workmanship

Cons

  • Service fees may pile up for different trades

Overview

Select Home Warranty, based in New Jersey, provides three distinct home warranty plans to customers across 44 states. The plans offered cater to the coverage of systems, appliances, or a combination of both, ensuring comprehensive protection for various aspects of the home.

Why Choose Select Home Warranty?

Select Home Warranty stands out as one of the top home warranty companies, offering comprehensive coverage and competitive prices. Moreover, the company provides a 60-day guarantee and does not require any inspection.

Plan Coverage and Cost

Select Home Warranty offers a range of plans to cater to different needs:

  • Bronze Care: Designed for appliances
  • Gold Care: Tailored for home systems
  • Platinum Care: Providing comprehensive coverage

Select Home Warranty aims to be as affordable as possible, with the Gold plan starting at $44 per month.

Summary

Select Home Warranty provides flexible and comprehensive coverage plans, offering valuable options for various needs.

>>Check your coverage options at Select Home Warranty

6. Cinch Home Warranty - Best for Preventative Maintenance Coverage

Pros

  • Three affordable coverage packages
  • Coverage includes unknown pre-existing conditions
  • 180-day workmanship guarantee
  • Covers unique items like doors, cabinets, and more

Cons

  • Limited flexibility

Overview

Cinch Home Services, the veteran with over 40 years in the trenches, is a heavyweight in the home warranty ring. They’re the go-to guys for covering your home’s quirks, from the rusty pipes to the creaky doors.

Why Choose Cinch Home Warranty?

Cinch isn’t just another warranty provider; they’re the ninjas of preventive care, offering comprehensive coverage that’s usually an extra elsewhere.

Plan Coverage and Cost

  • Monthly rates range from $30.99 to $93.99.
  • Service fees are a flat rate of $100 to $150.
  • Deductible options allow customization of premium and coverage level.
  • Coverage options span from basic to comprehensive.

Summary

Cinch Home Services is like that reliable friend who’s always got your back, especially with their 180-day workmanship promise and a safety net for the unknowns. Sure, the service fee’s a bit steeper, but for top-to-bottom coverage, they’re a solid bet.

 >>Find home warranty for renters from Cinch Home Services

7. America’s 1st Choice Home Warranty - Best for Flexible Contractor Choices

Pros

  • Personal choice for licensed technician repairs
  • Repairs and labor guaranteed for the length of your contract
  • Discounts on system and appliance replacements
  • Provides multi-property discounts

Cons

  • Lower than average coverage caps for home systems

Overview

America’s First Choice Home Warranty isn’t just another name in the home warranty game; they're seasoned pros with 12 years under their belt. They dish out four coverage levels, optional extras, and a workmanship promise that sticks with you as long as you stick with them—up to three years for some plans.

Why Choose AFC Home Warranty?

AFC Home Warranty is all about giving you the reins. Their customizable plans mean you’re not stuck with random contractors; you get to pick your team. It’s this kind of flexibility and attention to detail that makes AFC a standout choice for those who like their warranty to fit like a glove.

Plan Coverage and Cost

  • Four plan options: Silver, Gold, Platinum, and Diamond.
  • Service fees vary between $75 and $125.
  • Includes a workmanship guarantee of up to three years.
  • Offers the flexibility to choose your own contractor.

Summary

To wrap it up, AFC Home Warranty is a solid contender if you’re in the market for a home warranty. They’re all about choice, coverage, and making sure you’re covered for the long haul. With their flexible contractor policy and a suite of comprehensive plans, they’re a smart pick for homeowners who want protection that’s tailored to their needs.

>>Find the best deals on AFC Home Warranty

What Is a Home Warranty for Rental Properties?

Think of a home warranty for rental properties as your financial safety net for when things go wrong. It’s not like homeowners insurance, which steps in for the big, bad, unexpected troubles. Instead, this warranty is all about taking care of the wear and tear that happens just from living life.

Are Home Warranty Rental Properties Important?

Here’s the lowdown: a home warranty for renters is like having a superhero on speed dial for your property. Got a meltdown in the kitchen or a blackout in the basement? Ring up your warranty folks, and they’ll send over a pro to make things right.

This kind of coverage is like a VIP pass for up to 23 home systems and appliances. And the best part? Some plans are like a custom suit — tailored just for your property’s unique needs.

Is Coverage for Rental Properties Worth It?

Let’s look at some of the reasons why landlords will purchase a home warranty for renters:

Reduces Your Annual Repair Costs

As a landlord, you know that maintaining a home can be expensive. These plans can save you tons of money in maintaining both your primary residence and your rental property. It covers many of the expenses associated with maintaining both properties, helping you keep your budget intact.

Your Home Warranty Is Tax-Deductible

If you're a landlord, the cost of your home warranty for rental properties may be tax-deductible. The annual premium and service fees may be considered operating expenses that can be claimed.

Protects Your Real Estate Investment

Protecting the value of your real estate assets is crucial. A home warranty for renters can help safeguard your investment by ensuring that your home systems and appliances are always in good working condition.

Increases The Rental Value of Your Property

A well-maintained property with functioning home systems and appliances is more likely to attract and retain tenants, possibly allowing you to charge higher rent.

Covers What Homeowners Insurance Won't

While homeowners insurance covers damage from unexpected events, a home warranty for renters covers the inevitable wear and tear of your home's major systems and appliances. This means you get protection for both unexpected damages and inevitable breakdowns.

>>Choose Choice Home Warranty for your rental

What Should You Consider When Considering a Home Warranty for Rental Property?

Before purchasing a home warranty for your rental property, consider the following:

  • Age of the Rental Home: If it’s an older home with older appliances and systems, home warranty protection is essential. Even if it’s a newer property, appliances and home systems can still malfunction.
  • Number of Properties: If you have more than one rental property, a home warranty may be a small price to pay for convenience.
  • Details of the Warranty: Understand every detail about the warranty. What does it cover and exclude? Read through the warranty and ask potential providers any questions you may have about the service.

FAQs About Home Warranty for Renters

Here are the most frequently asked questions about home warranty for renters.

Is a Home Warranty on a Rental Property Tax Deductible?

Absolutely, getting a home warranty for your rental homes can trim your tax bill since it’s usually a legit business expense.

Can a Renter Buy a Home Warranty?

Renters are out of the loop on this one; it’s the landlord’s job to buy the home warranty.

Should I Get a Home Warranty for Rental Property if I Don’t Live Near My Rental Property?

Of course, a home warranty is like having a local handyman on call, minus the need for you to be nearby.

Is the Coverage the Same for Home Warranties for Landlords As It Is for Owner-Occupied Home Warranties?

Absolutely, owning the place means you’re in the clear for coverage, resident or not.

Why Do I Need a Home Warranty if I Already Have Insurance?

Insurance is your guard against the unexpected, but a home warranty is your day-to-day handyman, keeping your home’s essentials running smoothly.

Home Warranty for Renters: Conclusion

Locking in a home warranty for your rental property is highly encouraged. It’s a financial shield for your property, cuts down repair costs, and might even bump up your rental’s value. And, of course, it’s a tax-friendly choice that covers the gaps insurance leaves behind.

Choosing a trusted provider like Choice Home Warranty, our top pick, can take a load off your property management duties, saving you time and cash when it counts.

This is a sponsored article. The article should not be considered as advice.