What does a home warranty cover? Typically you get a home warranty when buying a home so how does a home warranty work? In this video, I talk about home warranty coverage and what you should expect as a buyer when using your home protection plan.
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What is a home warranty – A home warranty is typically a one-year renewable service agreement that is designed to protect you from unexpected, costly repairs on home systems and appliances by covering the repair or replacement of those items. … Basic plans typically include coverage for: kitchen appliances, water heaters, plumbing, electrical, heating systems, etc……
What does a home warranty cover – While there are different home warranty plans that you can purchase and additional items that you can add on to the basic coverage your typical home warranty plan covers the following: kitchen appliances, water heaters, plumbing, electrical, heating systems, etc…… Some of the additions that can be added on to the basic home warranty plan is Air Conditioning, Roof Coverage, Pool or Spa Equipment, Well Pump and Septic System as well as additional items.
How does a home warranty work – One thing to keep in mind when using your home warranty is that you have to file a claim with the home warranty company. That means that you will need to call them and pay the service fee (around $75) to have one of their preferred vendors come out and analyze the problem. From there, the vendor can tell you if it’s something that needs to be repaired or replaced and if it’s covered by the home warranty. Most of the time, you are not allowed to use your own vendors to do the work. Also, keep in mind that each issue in the house requires you to pay the service fee for each “issue”.
What is a seller home warranty – This is coverage that protects home sellers while their home is listed on the market. This coverage will help protect the home sellers with coverage on air conditioning, heating, ductwork, plumbing, electrical systems, water heaters and more. Best of all, no plan payment is due until the home closes.
Are home warranties worth the cost? Depending on the age of your home and the major systems of the house, I would say yes. The older your water heater, furance, etc… are the more of a reason to have a home warranty as it could end up paying for itself if any of those items need to be replaced. For newer homes, they aren’t as important but could still be a good protection plan against big ticket items.
Do you have additional questions about Home Warranties? Please comment below or contact me directly by going to www.jebsmith.net.
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