Protect Investment With A Home Warranty
Why You Need a Home Warranty
Congratulations! You have just purchased a home after months of saving for a down payment. You spent hours finding the right home, researching the best type of loan, and completing lots of paperwork. Make sure you protect that investment with a home warranty protection plan.
The systems and components inside your home are critical – you can’t enjoy your home if the AC breaks. Finding a reputable repair person and paying for the replacement can be expensive and time-consuming. A home warranty protection plan does just that – protects you from fraudulent repair companies and provides a cost-effective way to keep everything in your home running in tip-top shape.
Whether you a purchasing a new home or an older home with lots of character, it’s important to protect the value inside your home as well as your finances against expensive repairs. Make sure you have a home warranty protection plan.
If you have purchased a home without a home warranty protection plan, you can purchase a plan from a reputable provider any time after the close. Whether it’s one day or a year after purchase, you can protect the valuable systems and components in your home with a home warranty protection plan.
What Is Included In a Home Warranty Plan?
Home warranty protection plans can be customized to meet your needs. Whether you are purchasing a new home in Texas or an older home in Maine, make sure to buy a home warranty that meets your needs.
There are several options available for a homeowner when it comes to home protection plans. In general, a traditional home warranty will cover
- Basic home systems, including the plumbing and electrical systems in the home
- Heating and cooling (HVAC) systems such as the air conditioner and water heater
- Home appliances, including the clothes washer and dryer
- Kitchen appliances such as the stove, built-ins, and garbage disposal
From the basic home warranty plan, the homeowner can include add-ons to the service contract to customize the protection to cover critical components in the home. These add-ons can include swimming pool or spa coverage. More comprehensive plans can cover even more components associated with the home. Review the service contract options to see what works for you.
Are Home Warranty Protection Plans Worth the Investment?
The cost of repairs and replacements is not going down. Don’t take a risk with a surprisingly expensive repair on an unprotected system or appliance. The right home warranty protection plan guards against unexpected expenses and unscrupulous repair people in the event of a covered repair.
If you have a new appliance, it may be covered by a limited, short-term warranty. But you want that appliance to last a long time. Including critical appliances and components in your home warranty plan gives you that assurance in the event of a covered repair.
What Does a Home Warranty Protection Plan Cost?
Home warranty plans are typically grouped into three types:
- Systems coverage
- Appliance coverage
- Additional coverage plans
The cost for a protection plan will include an annual premium, service fees, and potential add-ons. The average for premiums varies based on coverage and can vary based on ZIP code. Premiums are paid monthly or yearly, depending on the terms of the service contract.
Service fees can range between $75 to $125 per call, charged only if a warranty professional visits your home for a repair or service call. The amount of the fee can vary depending on the amount of the premium.
Add-ons are additional fees to cover specific items in your home not included in one of the standard plans, such as pool and spa coverage. Add-ons are included in your specific warranty protection plan fee.
Questions and Answers
Q: What are some reasons for buying a home warranty?
The cost to repair and replace the systems, components, and appliances in your home continues to rise. Protect your home and your finances with a home warranty protection plan that can keep your home running smoothly without a lot of hassle.
Q. Are home warranty policies worth purchasing?
Your home has value, and the components and systems within your home are critical. A home warranty provides reassurance that you can protect the value – and comfort – of your home without taking a hit to your finances if you need a covered repair.
Q: What is a home warranty, and how does it work?
A home warranty plan covers repair and services costs as well as replacement costs for home systems and appliances like refrigerators, HVAC systems, electrical, plumbing, and the like if the item suffers a mechanical failure (up to the stated limits in the contract). If something breaks or fails, a service technician contracted by the home warranty provider will repair or replace the covered item. You pay a small service fee for the house call.
Q. Is a home warranty worth it for HVAC?
Yes. Your HVAC system is a critical part of your home and extremely expensive to repair. A home warranty protection plan is a cost-effective way to cover the costs of covered repairs on your HVAC system.
Q: What can I do if a buyer’s agent didn’t purchase a home warranty?
No worries! You can purchase a home warranty plan on your own any time after you buy your home.
Q. Is a home warranty appropriate for a newly built home?
Yes. Regardless of when the house is built, the systems and components in your home may need repair or replacement at any time. Protect the value of your home and your finances with a home warranty plan.
Q: How long after buying a house can you get a home warranty?
Any time! A home warranty is not just for people in the process of buying a home. You can purchase a home warranty months or even years after you’ve bought your home.
Q. What are the things I have to look for in a home warranty?
Each home warranty policy is unique. Look for a policy that covers the items that are most important to you, and whose repair or replacement costs would be burdensome. Evaluate the details of a policy and the reputation of the home warranty company before you sign.
Q: Which company offers the best home warranty plan?
There are many options to consider. Before purchasing a home warranty plan, evaluate the type of coverage you need, the amount you would like to spend, and review the service contract before you sign.
Q: Are home warranties mainly scam operations?
As with any industry providing a product or service to consumers, there are bad actors. There are many reputable home warranty companies that are committed to protecting the homes and finances of their customers. Do your research, read customer reviews, and make sure you read the service contract before you sign.
Q. What is the best home warranty company in Texas?
Texas is a big state with every type of home and geography! Make sure you purchase a home warranty plan from a company that understands the unique aspects of your location and type of home.
Q. Do I need insurance for my appliances?
Your appliances are a critical component of your home. As repair and replacement costs of these items continue to rise, you should protect your investment and your finances with a home warranty protection plan.
Q: Should one buy an annual home warranty?
Home warranty contracts can be annual or multi-year, depending on the service provider and the type of contract.
Q. Do home warranties cover AC replacements?
Most home warranty companies cover air conditioner replacement costs up to a certain maximum liability. Check your contract for details.
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