Better Be Prepared Than Sorry: Why You Need A Home Warranty

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Try to imagine: it’s only been days since you first moved into your new house and you find your air conditioner not functioning properly. Or your dishwasher isn’t working. Or your furnace goes out during the winter when you need it the most. What a drag, right? These are issues that no new homeowner deserves to encounter after shelling out bundles of money.

To ensure that your appliances are being taken care of in the best way possible, investing in a good home warranty is a decision you would want to take. Here is a general outlook on a home warranty, what it can offer, and if it will be worth it. 

What Is A Home Warranty?

One should take note that a home warranty is far different from a homeowner’s insurance. A home warranty is a contract between a homeowner and a company that handles home warranties. These companies are responsible for providing a discounted repair and replacement service on covered items such as kitchen appliances, plumbing, heating, electrical, and air conditioning systems. 

A homeowner’s insurance doesn’t often cover the cost of these components. There are instances where the amount of repair doesn’t meet the insurance policy’s deductibles. This reason, among many others, is why you need to consider purchasing a home warranty. Visit Choice Home Warranty Review to check what options you have as a new homeowner. 

How Home Warranty Works

Home warranty companies have made partnerships with approved service providers in the country. When a covered item breaks down or malfunctions in your house, homeowners only need to report such issues to their home warranty companies. They would, later on, send one of their service providers to inspect the problem. 

If the service provider determines that a certain item is within the warranty’s coverage, they will complete the work. As a homeowner, you only need to pay a small service fee, along with the warranty plan you purchased.

The cost of home warranty plans can range from $350 and $600 annually. It varies depending on the type of property you have, a condominium, a single-family detached, duplex, or a townhouse. Unless you own a brand new house, home warranty costs don’t vary significantly with property age.

A plan’s cost isn’t also affected by your home’s square footage (except if you own over 5,000 square feet of land). Garages are also included in the coverage of a standard home warranty. For separate structures like guest houses, you can pay an additional fee to include it in coverage.

It is important to note that having warranties does not equate to not spending a single penny on home repairs. But it does lessen your expenses on home management if you are on a tight budget. Better be prepared than sorry!

Benefits Of A Home Warranty

Like all warranties, a home warranty intends to protect a homeowner against costly, unforeseen repair bills. On top of it all, it should provide its consumers with peace of mind. It can act as a buffer for homeowners who have no emergency funds to spare. 

If you aren’t the handy type of homeowner, this contract is your friend. You no longer have to worry about finding contractors to solve the problem you have at the moment. This offer also works the best for people who have expensive tastes when it comes to appliances.

A home warranty offer often comes up during the sale and purchase of a property. This proposal provides reassurance to home buyers who have little to no knowledge about the construction and maintenance of the included home components. 

If you are someone who has exhausted their savings by buying a new property and would want to avoid any additional expenses, this offer is for you. Home warranties make handling the unexpected so much easier. 

Drawbacks Of A Home Warranty

The best thing to do when purchasing a new property is to do proper research. It is best to know the drawbacks of every offer given to you. For a home warranty deal, as stated above, not everything in your house is covered. It is important to carefully read the terms and conditions of a home warranty plan offered to you. By observing this measure, you can then avoid encountering problems in the future. 

A major point to consider is that most warranties won’t cover appliances that haven’t been maintained properly. This issue might cause a dispute between you and the company because of such a subjective condition. Instances like this arise when the previous owner recklessly used their appliances, and you are left at a disadvantage. 

Review each contract that you sign to not fall into an agreement that might do you harm. It is better to ask your warranty company several questions. This way, you will have the right understanding of the warranty plan that you decided to purchase.

Takeaway

Investing in the right home warranty plan is a decision that serves your property and family securely. Weigh both advantages and disadvantages that come with each home warranty plan you browse for. If planned right, this might be the best option for a homeowner like you.

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