Home Warranty 101
If you’ve recently purchased a home or are looking into becoming a homeowner, the subject of home warranties has probably come up in your research. But what’s the point of them? Do you really need one? Let us help you decide with our answers to these frequently asked home warranty questions.
What is a home warranty?
A home warranty is a service contract in which a company agrees to pay for fixing or replacing home systems and appliances.
What does a home warranty cover?
Depending on which plan you choose, you can have either a little or a lot of coverage on your home appliances and systems. Basic plans typically include coverage for kitchen appliances, water heaters, plumbing, electrical, heating systems, etc. There are additional options which cover things like pool/spa equipment, washer/dryer, kitchen refrigerator, air conditioning, well pump, etc.
How much does a home warranty cost?
A basic home warranty in our area costs about $450 a year, with additional coverage options available at a higher cost.
Do you need a home warranty? Is it required?
No, you do not necessarily need a home warranty, but it can make you feel more secure that you won’t be hit with additional unexpected repair costs when you move into your home. Buyers who purchase a previously owned home inherit used appliances and home systems with wear and tear. If things break down, a home warranty can help cover the cost. The home warranty can also be great for people who are too busy to research a reputable contractor when something is in need of repair. The home warranty company provides these professionals for you.
How do I choose a home warranty company?
Not all home warranty companies are created equal, so it’s important to do your research before you take the leap. Be sure to read all the fine print! Know exactly what the company will cover and what they will not before you go any further with the contract. Research the company online at Better Business Bureau and look for reviews to make sure that they hire quality repair service workers. The experience of others before you is a great way to weed out home warranty companies to find the right one for you.
