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Home Warranty Plan Coverage

Why You Need a Home Warranty When Buying a Home

Regardless of when you buy a home, be sure your home is protected with a home warranty. Whether you a purchasing a brand-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 covered repairs.

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.

When Should You Purchase a Home Warranty Plan?

Many homes come with a home warranty plan as part of the mortgage in a real estate transaction. Or, the previous owner may pass along a home protection plan as part of the sale. However, if a home warranty protection plan is not part of the closing process, you can still purchase a home warranty.

What Is Included In a Home Warranty Plan?

All home homes are different, and home protection plans can be different, too. Whether you are purchasing a new home in Texas or an older home in New York, 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 or refrigerator

From the basic home warranty plan, the homeowner can include add-ons to the service contract to customize the protection to cover other components in the home, such as a swimming pool or spa. Review the service contract options to see what works for you.

Is Home Warranty Protection Plans Worth the Investment?

You have made the important decision to purchase a home and likely made a significant down payment. The systems, appliances and components are an important part of your home and should be protected.

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 for breakdowns of the critical components of your home.

What Does a Home Warranty Protection Plan Cost?

The cost of a protection plan depends on the level of coverage you choose and will include an annual premium, service fees, and potential add-ons. The average premiums will vary based on coverage and 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 repair professional visits your home for a repair or service call. The amount of the fee can vary depending on the home protection plan.

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 monthly fee.

Questions and Answers

Q: Why would I need a home warranty?

The cost to repair and replace the systems, components, and appliances in your home continue 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: 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. 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. 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 history of the home warranty company before you sign.

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. 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: Should one buy an annual home warranty?

Home warranty contracts can be monthly, annual, or multi-year, depending on the service provider and the type of contract.

Q. What does a homeowner’s warranty cover?

Each policy is unique. But in general, a home warranty provides for the repair and replacement of a home’s major components including the furnace, HVAC, plumbing, and electrical systems in the case of a covered repair. In addition, a home warranty may also cover major appliances, such as washers, dryers, and refrigerators.

Q. Do home warranties cover AC replacements?

Most home warranty companies cover air conditioner replacement costs up to a certain maximum liability. Review your contract for specific coverage limitations.

Q. Is a home warranty worth it for HVAC?

Your heating and cooling system is a critical component of your home. A right-sized home warranty protection plan can cover your HVAC system in a cost-effective manner.