A home warranty plans help to protect your investment and provides a peace of mind. When a homeowner finishes buying a home, the last thing you want to worry about is the malfunction that may occur in the new home.
For you to have the peace of mind, it’s better that you get a home protection plan that will help cover all the items in your new home. Moreover, a home warranty is a better idea for first-time homeowners who have no prior experience in maintaining a home.
Keep reading to learn more about home warranties, how to make a claim, cost, and what is/isn’t covered.
How does a home warranty work?
Home warranties are protection plans designed to help with the repair cost associated with most of the appliances in a home. These warranties are customized to fit all the needs of your home and match the budget.
In general, home warranties provide coverage to systems such as heaters, conditioners, plumbing, dishwashers, ovens among other home appliances.
Whenever a breakdown occurs to any of the items covered in the protection plan, the home warranty company repairs or replaces the item.
How much does a home warranty cost?
A home warranty is inexpensive and on average, they may cost between $300 and $600 per year. This, however, depends on the coverage.
Sometimes the home warranty company may offer discounts and promotional offers reducing the cost of coverage. The warranty can be renewed monthly or annually depending on the homeowner choice.
What is covered in a home warranty protection
Most home warranties protection plans provide a coverage for electric air conditioning, heaters, electrical systems, furnaces, doorbells, dishwashers, telephone wiring, kitchen appliances and more. However, since the home warranty companies provide a plan, it’s better you check for a plan that meets your needs and its within your budget.
What is not covered by a home warranty protection plan
It all depends on the home warranty plan you choose. But it’s better to know that most home warranty companies do not cover damage that results from the following:
- poor maintenance
- pre-existing issues
- poor installation of gadgets or code violations.
These are some of the issues that frustrate the buyers when closing as the company may fail to make the payment.
Types of home warranty coverage
There are different plans available which can be made available to you by your real estate agents. If you need to upgrade to premium covers, you can always contact the insurance company and ask for more details.
other valuable readings:
Most home sellers and real estate agents usually provide home warranty plans as an incentive to the buyer. Thus it is better to pay close attention to whether certain warranties provided by a company will pay for repairs of upgrades made on the home appliances.
If you are buying or selling a home, a warranty protection plan will be the best option to protect your money. For buyers, it will protect you from unexpected repairs that may occur after closing. For sellers, a warranty will protect for any breakdown that may occur while your home property is on the listing.
Did you find our blog on home warranties helpful for personal financing? Feel free to share on Twitter or Facebook
Image Credit: Pixabay
end of post … please share it!
- SATISFACTION GUARANTEED: Dash Rapid Egg Cooker is the ORIGINAL (and most trusted) egg cooker on the market, for perfect eggs, your way, EVERY TIME, we...
- QUICK + EASY: Short on time? Simply choose your preferred eggs and set the timer. The auto-shut off function prevents overcooking, and the buzzer will...
- VERSATILE: This is the PERFECT appliance for picky eaters, large families, or those who have busy schedules. Hard boiled eggs, soft boiled eggs,...
- EASY TO CLEAN: Indoor grill hood, plate, and drip tray are removable and dishwasher safe
- NONSTICK COOK PLATE: Plate is removable and dishwasher safe, so there's no more endless scraping to clean your indoor electric grill
- ENJOY GRILLING ALL YEAR LONG: This indoor grill with hood has a high searing heat that locks in juices and flavors, and lid closes to give you...
- Made in China
- Deluxe nonstick surface, inside and out, for stick-free cooking and easy cleaning
- Doubles as a handy buffet server when entertaining
- Your 100% satisfaction is our top priority! We guarantee it! Have an issue? Let us know! Lifetime Limited Warranty!
- Cook up to 7 eggs in soft, medium, or hard boiled firmness, while saving time and water. Eggs come out consistently perfect, shell is easy to peel,...
- Fill measuring cup with water to the desired firmness, press the power button once and within minutes your eggs will be "Egg-Celent!"
- Ready in 5 minutes, cook delicious breakfast sandwiches in the comfort of your own home
- Use your own fresh ingredients, including eggs, cheese and much more Meat used must be precooked
- Make sandwiches with English muffins, biscuits, small bagels and more
Last update on 2019-05-31 / Affiliate links / Images from Amazon Product Advertising API