Home Warranties and Peace of Mind


Home Warranties and Peace of Mind

Contemplating on whether to purchase a home warranty? You might begin by asking yourself some fundamental questions on costs and the potential savings involved. How much would it actually cost to restore some of the chief systems in your home, if they were to break down? Factor in systems like your heating and air conditioning, which could cost well over a thousand dollars to repair. Next, think about items like a hot water heater that could also cost several hundred dollars. After you factor in how much it would cost to replace these items, contrast that to the amount of money you are going to have to expend on the annual premium and the fees for a service call. Comparing these numbers will help you decide whether or not it is worth the money to get the home warranty.

If you are purchasing a newer home, you may think that you do not need a warranty. Newly built construction, however, can still have problems with the appliances or some of the other important systems in the house. After making a large purchase like a home, the last thing that you want to do is shell out tons of money on repairs. With your home warranty in place, you won’t have to worry about these kinds of expenses. The key is to get a protection contract that will cover you when you need it. The following tips will help you purchase a home warranty that is right for you.

If you are buying newly built construction, check with the builder first. Many builders will offer some type of warranty. In certain states, builders are actually required to offer a warranty that can last for as long as ten years. The drawback to the builder’s home warranty is that it can very often be hard to track down a builder for warranty claims once they have begun to focus on a new project. Even if your home comes with a warranty by the builder, this is often only for the actual structure and will not include things like your appliances or other major systems that can also be expensive to repair or replace. This type of warranty is usually folded into the overall cost of the property so there is not any up-front additional cost. You can supplement the builder warranty by a third party warranty that may include other areas you may be concerned about. These programs can cost several hundreds per year and can be very beneficial if you expect that repairs will be needed.

Understanding In most instances, when you have an appliance or home system that malfunctions, you contact your warranty provider and they send out a contracted repair person. You will typically have to shell out the for the service call. Usually a home guarantee contract includes coverage for air conditioning and heating systems, fridges, stoves, refrigerators, fans, indoor plumbing, garbage disposals, telephone wiring and electrical systems. Keep in mind that not every policy will cover all of these eventualities. You also need to know if outdoor systems are covered, and what types of things can make your warranty invalid like not having maintenance performed regularly.

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Home Warranties and Peace of Mind / Author: Anita

Occupation: Writer
Anita has a BA in English literature and writes about real estate related interests.
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