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What Is A Home Warranty And Are They Worth It?
Dated: July 25 2023
Views: 445
WHAT IS A HOME WARRANTY AND ARE THEY WORTH IT?
A home warranty is a contract between a home protection company and a homeowner, which covers service, repair, or replacement of your major home systems and appliances. It also can extend the protection of manufacturers’ warranties after they expire.
Most home warranty companies offer a yearly service plan that you can renew each year. They generally begin 10-30 days of your first payment. They offer several plans ranging from $300-$600 on average. Their purpose is two-fold:
(1) Cover the repair or replacement of your system or appliance when a breakdown occurs through normal wear and tear.
(2) Send a trained service provider to your home to diagnose and fix your issue.
Policyholders are responsible for a service fee, or deductible, which is paid to the technician on scene to diagnose the malfunctioning appliance or system.
WHAT IS THE DIFFERENCE BETWEEN A HOME WARRANTY AND HOMEOWNERS INSURANCE ?
Homeowners Insurance is mandatory and protects you from unexpected events such as fire, theft and storm damage.
Home warranties are optional and cover appliances and other home systems when they fail due to normal operations. These warranties are designed to save you from paying expensive out-of-pocket costs.
WHAT’S COVERED UNDER A HOME WARRANTY?
There are many packages to choose from such as:
Appliance Plan covers appliances including Refrigerator, dishwasher, stove, built-in microwave, washer, dryer, trash compactor, etc….
Systems Plan covers systems including air conditioning, heating, electrical, plumbing, water heater, central vacuum, ceiling fans, garbage disposal, etc…
Many providers offer combo plans and the option to purchase add-ons such as: Swimming pool, spa, well pump, pest control services, etc…
WHAT’S NOT COVERED?
(1) Damage caused by improper installation or maintenance
(2) Misuse of an appliance or system (using it for other unintended purpose)
(3) Cosmetic issues such as scratches and dents
(4) Pre-existing conditions at the time a policy begins
A Home Warranty can level your budget since it pays for itself when an appliance or system breaks down. With many choices and plans, it is definitely something to be considered.
For more information regarding home warranty's or to speak with Joe directly, click the link here: Joe's contact information here
Joe Militello
Joe, a lifelong Michigan resident, brings over three decades of expertise to his full-time career in real estate. As a seasoned realtor, he has earned a reputation for his proactive, tech-savvy approa....
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