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Reasons You Might Consider Home Warranty
Imagine a month after you move into your new house, the refrigerator suddenly breaks down or you wake up to no heat in the middle of winter. It can be inconvenient, stressful, and expensive to repair or replace malfunction appliances and systems. Not exactly what a new homeowner wants to go through. Purchasing a home warranty can protect you against the unexpected.
Did you know February 10 is National Home Warranty Day? Our real estate agents give a breakdown of what home warranties are, what they cover, and why you should consider investing in one.
What is a Home Warranty?
A home warranty is not the same thing as a homeowner's insurance policy, but rather a contract between a home warranty company and a homeowner that pays the cost of repair and replacement of a home's major components. Separately, homeowner's insurance covers major perils such as property crimes, fires, and water damage that could affect the homeowner's personal possessions or the entire structure. If you have a home warranty, you have a service contract to help if there's a need for costly repairs or when you have to replace a covered item in your home.
The warranty covers items that fail due to mechanical breakdown and normal wear and tear. Manufacturers' warranties also play the same role, except they are valid for a specified term and cover specific appliances. A home warranty covers a selection of several items, depending on your contract. You can choose from very basic to very extensive home warranty coverage depending on your budget, needs, and how much of a risk you think you might have.
What is Covered by a Home Warranty?
There are many things that a home warranty program may cover for malfunction, repair, or servicing. Examples include:
- Appliances like washers, ovens, refrigerators, stoves, dryers, and dishwashers
- Built-in microwaves
- HVAC systems
- Electrical wiring and infrastructure
- Plumbing
- Ceiling fans
- Garbage disposals
- Trash compactors
- Central vacuums
- Jacuzzis, spas, and pools
- Bathtubs with motors
Home warranty plans may have different features. Some may cover appliances only, systems in your home, or both appliances and systems.
Reasons You Should Consider Home Warranty
- You're Buying or Selling a Home
Whether you're involved in the sale or purchase of a home, a warranty adds a significant amount of value to the home. For home sellers, offering the buyer a one-year home warranty instills confidence in their purchase. Also, you don't have to spend thousands of dollars on repairs and replacements before you sell the house. As a buyer, you won't have to fight with your seller about home defects that arise after closing. - You'll Save Time and Energy
Appliance and system breakdowns usually happen at the utmost inconvenient time. And if you're new to the area, you can be left scrambling to find a reliable technician. This could mean having to shop around, checking with different technicians for pricing, and stressing out about their availability. But with a home warranty, you have a ready resource to call. Home warranty companies have technicians in their network at any point in time. So once you submit your service call request, the customer service team would send you a licensed service technician right away. This can be very convenient for older homeowners. - Have Peace of Mind
Do you sometimes cross your fingers hoping that your stove, refrigerator, or air conditioner will make it through the season or until you can save enough money to purchase a new one? A warranty can provide peace of mind if your home has older systems and appliances. You won't be in constant worry because you'll know that there's a backup plan in the event of an unexpected breakdown.
Choosing the right home warranty plan requires extensive analysis of the costs as well as the terms and conditions. It helps to have experts who can help you find a reliable and trustworthy warranty company. And if you're looking for South Bend Homes for sale, we encourage you to contact us to see what our inventory looks like.
Note: a subscription to the Do Not Call list does not apply when requesting information from our company.
