Are you considering buying a home warranty for your new home? Before you make the decision, there are some key things you need to know. From what’s covered to what’s excluded, to choosing the best home warranty company, understanding the ins and outs of home warranties can help you decide if it’s the right choice for you. Keep reading to learn more about home warranties.
What is a home warranty?
A home warranty is a service contract that helps protect homeowners from the unexpected costs of repairing or replacing major systems and appliances in their homes. Home warranties are typically offered as part of the purchase of a home. However, homeowners can also purchase a warranty at any point after they’ve moved in. These contracts usually need to be renewed annually, although some companies offer longer terms. The cost of a home warranty varies depending on the coverage offered and geographic location but typically ranges from $250 to $600 for basic plans.
What is covered by a home warranty?
The coverage provided by a home warranty varies depending on the company and the policy. Generally, a home warranty covers major systems and appliances like heating and cooling systems, water heaters, plumbing systems, electrical systems, refrigerators, ovens, dishwashers, and more. Some warranties also cover items like garage door openers and ceiling fans. Depending on the company, you might be able to purchase additional coverage for pools and spas, septic tanks, and other items. It is important to know exactly what is covered by your home warranty before signing the contract. Some warranties may cover more items than others, so it is important to read the fine print and make sure you understand the coverage.
When a problem with a covered item arises, homeowners can call the warranty company, and a technician will come to diagnose and repair the issue. Homeowners are typically responsible for paying a service fee when they call the warranty company for assistance, however, the policy should pay for parts and labor for any covered work. Home warranties are a great way for homeowners to protect their investments in their homes. It is important to understand the coverage and read the fine print so you can be sure you are getting the best protection possible.
How do you select a provider for your home warranty?
When selecting a provider for your home warranty, it’s important to know what you’re getting into. One of the most important things to consider when selecting a home warranty company is its reputation. Do some online research to find out what customers are saying about the company. You can also look at business ratings from sources like the Better Business Bureau to get an idea of business practices.
You should also choose a company with good customer service. You’ll want to find out how long they take to respond to queries or complaints and if they offer any sort of guarantee. Finally, make sure you understand the company’s claims process. You want to make sure that the process is simple and straightforward so you don’t have to jump through many hoops to get your claim processed.
Choosing the right home warranty company is an important decision. By taking the time to research the company, you can make sure you are getting the best coverage at the best price. Do your homework, and you can find the right home warranty company for you.
Home Warranty coverage is a valuable addition to any home purchase, providing peace of mind that expensive repairs or replacements will be handled in the event of a catastrophic system or appliance failure. By understanding the coverage provided, homeowners can make an informed decision and have the assurance that any major expense is covered.
