The 4 Finest Residence Warranties for Condos (2024)

Apartment house owners are in a novel state of affairs on the subject of house guarantee insurance policies. Not like owners who’re liable for all the pieces (programs and home equipment), you’re possible solely on the hook for home equipment. You don’t even want add-on protection like pool or spa, sprinkler programs, and even additional protection in your HVAC system, as many apartment associations are liable for the upkeep and restore of serious programs as a result of a number of models share them. After all, double-check this primary, as every apartment affiliation is totally different, however this could prevent some huge cash when purchasing for a house guarantee plan, as appliance-only plans are sometimes the least costly. 

Now, if you happen to’re shaking your head and not sure about even enrolling in a house guarantee coverage in your apartment, you’re not alone. I get it. Some house guarantee suppliers will do no matter they will to keep away from paying in your equipment repairs or replacements. However respected suppliers aren’t like that, and their insurance policies can prevent hundreds of {dollars} in equipment repairs or replacements when you’ve a kind of terrible years the place all the pieces appears to fail directly. 

I’ve spent numerous hours researching, secret procuring, and studying phrases and circumstances and buyer critiques to create this information on the greatest house guarantee firms for condos. These firms are ranked primarily based on Right now’s House owner’s distinctive standards, reminiscent of plans and protection, affordability, buyer expertise, firm fame, and way more. I’ve additionally spared no criticism of those firms, so that you’ll know their potential drawbacks going ahead along with your procuring. 

Learn our full Residence Guarantee Overview Methodology for extra particulars.

High 5 Residence Guarantee Corporations

My Professional Advice

I’d go together with American Residence Protect or Liberty Residence Guard if I owned a apartment. These suppliers supply appliance-only plans, which I like to recommend most apartment house owners look into to keep away from overpaying on plans that cowl house programs like HVAC or plumbing, which apartment associations are sometimes liable for. 

For apartment house owners with many distinctive home equipment or house options, Liberty Residence Guard is my advice for his or her mix-and-match procuring expertise and an enormous quantity of customization (you may even go for carpet cleansing with their plans, which is one thing I’ve by no means seen from one other supplier). 

I like to recommend American Residence Protect for these with premium home equipment due to their increased protection caps for home equipment of as much as $4,000, relying in your plan. This quantity of protection is about double what Liberty Residence Guard gives and provides me higher peace of thoughts that even main equipment repairs or replacements could be lined, like changing a washer and dryer, which prices over $1,400 most often.  

Residence Guarantee Corporations for Condos I Didn’t Embrace

I didn’t embody US Residence Guard on this information as a result of this supplier has an F score from the Higher Enterprise Bureau and sketchy practices. Buyer critiques share that this firm sends out fraudulent mailers scaring owners about their insurance policies expiring. Owners who weren’t even prospects of this enterprise share that they acquired “last discover” mail and have been topic to misleading advertising and marketing practices, so that is positively not an organization I’m comfy recommending to anybody. 

One other firm I excluded was Like New Residence Guarantee. The BBB has a present alert advising shoppers to make use of warning with this enterprise as a consequence of complaints about alleged deceptive gross sales techniques, failure to cancel contracts after a client requested cancellation, poor customer support, and failure to supply refunds. 

Examine The Highest Rated Residence Warranties for Condos

Quote and price information gathered January 2024. Value information are up to date and monitored constantly.

Our Evaluations of the Finest Residence Warranties for Condos

Finest Worth

Choose Residence Guarantee

4.2

Our Score

Restricted Time:

$150 Off (Code HOUSE25)

What I Like

What I Don’t Like

Choose Residence Guarantee (SHW) gives a number of the most reasonably priced plans within the business, with all of the quotes I acquired coming in at lower than $48 monthly. For apartment house owners, the appliance-only plan is cheap at an estimated price of $44 monthly, which is about $6 to $16 lower than the nationwide common, providing you with a financial savings of $72 to $192 yearly — to not point out, Choose has decrease service payment charges of $75, which prevent round $25 to $75 per go to in comparison with suppliers like American Residence Protect and Elite Residence Guarantee, who each have increased service charges beginning at $100 or extra.  

An appliance-only house guarantee is usually the only option for apartment house owners since your affiliation possible covers main programs like your HVAC and plumbing. Whereas Choose gives an economical appliance-only plan, a few of its equipment protection caps are as little as $500. This cover is extraordinarily low and inadequate to interchange frequent home equipment like washers, dryers, dishwashers, or stoves. Nevertheless, Choose should be a good selection if you happen to’re in search of protection that’ll cowl frequent repairs with out breaking the financial institution every month.  

Choose has some unusual exclusions. For instance, even when your dishwasher is roofed, the racks and rollers, which I and many owners would take into account a part of the equipment, aren’t. Whereas this isn’t unparalleled within the business, it’s irritating, so learn your pattern contract carefully earlier than enrolling in Choose or any firm’s coverage. 

Backside Line: 8.4/10

Choose Residence Guarantee is a budget-friendly supplier with a number of plan choices, wonderful reductions (which appear all the time accessible), and robust protection caps for air con and HVAC programs (as much as $3,000). I additionally like that Choose is obtainable in all 50 states and the District of Columbia, so U.S. apartment house owners can simply entry Choose’s protection choices no matter location. 

Whereas I believe Choose packs numerous worth in for an reasonably priced month-to-month charge, its decrease equipment protection caps are a big con for apartment house owners with luxurious home equipment. Nonetheless, if you happen to’re in search of an economical plan that’ll cowl most repairs and assist you with the price of equipment alternative, Choose could also be a good selection — particularly if you happen to’re liable for your roof as a result of their plans all include free roof leak protection. 

Plans and Protection: 8.3/10

Choose has three plan choices —an appliance-only plan, a systems-only plan, and a complete plan protecting each home equipment and programs. For apartment house owners, Bronze Care might be your best choice as a result of it covers main home equipment like a cooktop, dishwasher, garments washer and dryer, fridge, range, and oven. Sadly, this appliance-only plan isn’t as complete as these of suppliers like Liberty Residence Guard, however it’s extra reasonably priced, which is a plus. 

The next month-to-month prices embody the supply for 2 months free, saving you round $13 and $16 every month (relying on which plan you choose) off the unique worth. Throughout secret procuring on-line, Choose provided this two-months- free low cost. Whereas this sale might or might not occur while you’re procuring, I repeatedly see $150 off coupons or 20%-off gross sales on Choose’s web site. Some buyer critiques even shared that they acquired a decrease month-to-month payment and repair when talking with Choose brokers over the telephone. 

Plan	Month-to-month Value*	Service Payment	Out there Reductions
Bronze Care	$44.42	$75	$150 off (web site), two additional months free (web site)
Gold Care	$44.42	$75	$150 off (web site), two additional months free (web site)
Platinum Care	$47.75	$75	$150 off (web site), two additional months free (web site)

*Month-to-month price figures offered embody the discounted charge provided on the time of writing. Choose Residence Guarantee has been working this promotion because the starting of this 12 months.

Editor’s Observe: The price information talked about on this article was sourced for a two-bedroom apartment beneath 5,000 sq. toes in Phoenix, AZ]. The price information offered was correct on the time of writing.

Out there Add-Ons

As a apartment proprietor, you may positively skip the pool and garden sprinkler system add-ons, however you may profit from sump pump protection if this falls beneath your duty. 

• Central vacuum: $3.33/mo
• Garden sprinkler system: $5.83/mo
• Pool: $8.33/mo
• Roof leak: $0/mo
• Septic system: $5.83/mo
• Spa: $5.83/mo
• Standalone freezer: $3.33/mo
• Sump pump: $3.33/mo
• Effectively pump: $3.33/mo

Exclusions

Choose has customary business exclusions, with nothing that might considerably harm a apartment proprietor. Simply hold these in thoughts when making use of for claims and securing a coverage. 

• Secondary harm (i.e., your private home guarantee might cowl roof harm however gained’t cowl water harm brought on by the leak)
• Incorrect set up or malfunctions as a consequence of development harm or improper wiring
• Points with programs or home equipment associated to hazardous or poisonous supplies (e.g., mildew, asbestos, and gasoline leaks) 
• Widespread areas in condominiums or household houses
• Photo voltaic heating programs
• Injury brought on by pure disasters and rust
• Defects or damages brought on by the inspiration and construction of the house

Editor’s Observe: Whereas this text highlights sure exclusions, it’s crucial for readers to evaluate their contracts because the talked about exclusions will not be exhaustive, and extra exclusions might apply.

Affordability: 9.1/10

In the event you’re on a price range, Choose Residence Guarantee is a wonderful selection as a result of their Bronze Care plan comes with free roof protection (valued at $99) and is far inexpensive than the typical house guarantee costing no less than $50 per 12 months. Choose quoted me $44.42 for his or her equipment plan for a two-bedroom apartment in Phoenix, AZ. Plus, their $75 service payment is likely one of the lowest charges I’ve seen amongst house guarantee firms. You pay a service payment every time you request service, just like an insurance coverage deductible, so it’s good to see a way more reasonably priced service payment provided — some suppliers, like Elite Residence Guarantee, have service charges beginning at $100 or extra, so this could prevent fairly a bit of cash over time. 

Right now’s House owner Ideas

Some buyer critiques famous that they acquired particular senior reductions with locked-in charges after they known as Choose Residence Guarantee. In the event you’re a senior, take into account asking about this, as prospects shared that the financial savings have been typically a whole bunch of {dollars} a 12 months with the identical advantages and free roof leak safety.

Buyer Expertise: 8.1/10

Choose has an excellent buyer expertise with their user-friendly web site and on-line quote calculator. I particularly like that the quote is generated immediately for you, so that you don’t have to attend for an agent to achieve out to you, as is the case with Elite Residence Guarantee. Choose’s quote calculator saves you time throughout the procuring course of, which is a big plus. One other bonus is that Choose’s pricing is clear. You may simply discover plan and add-on pricing, permitting you to weigh your choices and price range extra successfully. The place Choose Residence Guarantee loses a degree is their 30-day ready interval after you’ve signed up. This situation means Choose isn’t protecting your private home till 30 days move. Whereas a ready interval is typical, some suppliers have shorter ready intervals, permitting you to get peace of thoughts a lot faster. 

Firm Popularity: 8.0/10

Whereas the Higher Enterprise Bureau doesn’t accredit Choose Residence Guarantee, the BBB does give Choose a good B score, which, paired with an almost four-star score from Trustpilot, offers me confidence in Choose’s customer support. Most critiques on-line share that Choose has a straightforward signup course of, useful customer support reps who aren’t pushy, and immediate appointments with technicians who efficiently handle their equipment points. Destructive critiques famous points with declare denial and contacting Choose customer support. Total, the critiques have been blended however largely constructive, with prospects sharing that they beloved their over-the-phone expertise with customer support. 

Score Web site	Score	Variety of Evaluations
BBB	B / 1.38 out of 5 stars	2,110
Trustpilot	3.8	4,818
Yelp	1.0	9

Editor’s Observe: The scores offered have been correct on the time of writing.

Claims Course of: 7.6/10

Choose Residence Guarantee has two declare submission choices: by means of their on-line portal or over the telephone. As soon as submitted, wait to listen to again from a Choose customer support consultant to schedule a restore appointment. Our staff discovered that Choose has a median response time of round 48 hours for non-emergency claims, which isn’t pretty much as good as Liberty Residence Guard however is fairly customary. As a complete, Choose doesn’t stand out on this class negatively or positively. 

Availability: 10/10

With true nationwide house guarantee protection, apartment house owners from all 50 states and the District of Columbia can enroll in a house guarantee coverage with Choose. Since Choose has constructive critiques and a steadfast enterprise mannequin, I really feel assured on this supplier’s potential to serve prospects nationwide. 

Learn our full Choose Residence Guarantee evaluate

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