A home warranty can be a great option to protect your home investment. When combined with a good homeowners insurance policy, you can have most of your bases covered. However, if you bought a new home, many home systems are covered by the manufacturer's warranties. Common things covered by home warranties include household systems such as electricity, HVAC, and plumbing; and defects in large appliances, such as washing machines, dryers, and refrigerators.
So are home guarantees really worth it? With all the costs of owning a home, the price of a home warranty that covers most or all of your appliances and systems can add up. Like all warranties, a home warranty is supposed to protect against costly and unforeseen repair bills and provide peace of mind. However, it is the unpredictable nature of those expenses that could make home collateral a worthwhile investment when buying a home. It doesn't offer the same coverage as homeowners insurance, so it's important to know the difference between home guarantees and homeowners insurance.
Since you can't predict when your home systems or appliances will fail, it's definitely worth having a home warranty. Home warranties are worthwhile if there is no existing coverage for your appliances and home systems and if you find a plan that includes the items you want to cover, so you end up saving your money instead of wasting it. If you're looking to protect your home's systems and appliances, you may be wondering if home warranties are worthwhile. Home warranties are not expensive compared to the cost of repairing or replacing most important components of a home, and this fact is one of the main selling points of a warranty.
It's not worth buying a home warranty for a newly built home because you'll end up with duplicate coverage.