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. A home warranty, which is a service agreement that covers major repairs or replacement of your home's systems and appliances, can help reduce the cost burden.
However, it's a good idea to invest in a home warranty because of the cost savings you might receive over time on unexpected repairs and replacements. It doesn't offer the same coverage as homeowners insurance, so it's important to know the difference between home guarantees and homeowners insurance. When you buy or rent a home, you are likely to be offered a home warranty to protect against costly unforeseen repairs. However, if your refrigerator needs a repair due to normal wear and tear, contact your home warranty company to have it fixed.
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. The decision to sell a home involves many decisions about what to improve or repair, what to leave as is, and what selling price takes all those aspects into account, as well as balancing these options with the cost of a new home. While you'll have to pay an annual premium for a home warranty, the benefits can far outweigh the repair costs. It is better to keep the money you would spend on a home warranty in your own pocket and save to pay for repairs and replacements of appliances on your own.
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. 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. Since you can't predict when your home systems or appliances will fail, it's definitely worth having a home warranty. A home warranty is not an insurance policy, but a service contract that pays the cost of repairing or replacing covered items, such as major kitchen appliances, as well as electrical, plumbing, heating and air conditioning systems.
This type of protection from one of the leading home warranty companies can save you from paying expensive, out-of-pocket costs on repairs and replacements. 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.