Your home is one of your most important assets. As a homeowner, you want to make sure that every inch of your home is protected. This includes appliances. While insurance is a great way to protect a home, it is not a complete protection plan.
There are many other items in your home that need protection that insurance does not cover. To fully protect your home, you need a home warranty.
What is a Home Warranty?
A home warranty is a service contract that covers the cost of repairs and replacements of many household appliances and home systems. Plumbing systems, HVAC systems, and electrical systems are all covered under home warranties. Common household appliances such as refrigerators, dishwashers, washers, dryers, and ovens are also covered.
Home warranties are great for new and existing homeowners. It is never too late or too early to begin protecting your home. Home warranties are also offered for different types of home styles. Home warranties are available for houses, townhomes, and condos. Not only are costly repairs avoided, saving homeowners money, but there is a sense of comfort knowing that your home is fully protected.
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Is a Home Warranty Different Than Insurance?
One of the main reasons that people think they need a home warranty is because they have home insurance. At a glance, the two might seem like they are similar, but they protect homeowners in different ways.
Homeowner’s insurance protects owners from paying for damages caused by external forces, mainly natural disasters. Weather-related damages such as wind and tree damages are covered under homeowners’ insurance.
It also covers fire damage and vandalism but would not cover the expense of an appliance that suddenly stops working. This is why homeowners need both homeowner’s insurance and a home warranty.
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How Does a Home Warranty Work?
Home warranties are offered by third-party companies that are not affiliated with the appliances you own. A home warranty is, in a sense, an extended warranty because it protects covered items once factory warranties expire. When an appliance or system stops working in a home, a home warranty promises that that appliance or system will be repaired or replaced.
The process of getting something fixed is simple. Homeowners have to simply call their warranty providers and file a claim.
Once the claim is accepted and processed, a service technician is dispatched to the home. The cost of the appliance and the labor is usually covered by the warranty company. Some warranty providers might charge homeowners a service charge.
Coverage
Intensive research is suggested before deciding on a plan as home warranty coverage differs depending on the provider. There are also several things to be mindful of before purchasing a plan. What appliances and systems are covered, is there a fee to cover additional appliances, is there a coverage limit, and are there any fees or deductibles? When shopping for a plan, it is important to find the best warranty plan that is best for your home.
Every home will need repairs at some point. It is best to be prepared ahead of time. With a home warranty, you are promised coverage that may save you thousands of dollars. All you need is one protection plan. Start researching home warranties in your area for inexpensive peace of mind.
