When a person does not have any emergency fund prepared, a home warranty can greatly help. Like all other kinds of warranties, home warranties help protect a homeowner from unpredictable repair amounts for a damaged item or area. It provides peace of mind to homeowners to have an emergency net when faced with situations in the house where they will need a large amount of money.
When things suddenly break down in a house, a home warranty can help lessen the burden of paying a large repair fee. It covers electrical repair, plumbing repair, air conditioning systems, kitchen appliances, clothes washers, and the like. So, read down below to understand and know more about what you need to know about home warranties.
What is a home warranty?
A home warranty is one of the brilliant ways to protect your budget. There is a signed contract between the homeowner and a homeowner company that offers their clients a discounted repair and replacement on some of the house’s major areas. Home warranties cover the amount of maintaining the appliances and systems.
It is usually only available for only a specific time. Usually, one year but still renewable yearly if the homeowner wants to. Thus, when the warranty is near its expiration date, most homeowners conduct a house inspection in their homes to see if there is any need to be repaired.
What are the covers of a home warranty?
Before getting a home warranty, know the things covered under your plan since home warranty coverage differs from each other. Here is a list of what companies offer to their clients as a home warranty to help you learn more about the right one to get for your home.
System Plans
The system plans cover the repair or replacement of the eleven major home systems in your home. These major systems in your home include repair of air conditioning, electrical systems, HVAC, and plumbing problems. Visit https://www.crediful.com/home-warranty/sears-home-services/ to learn more about a good home warranty you could avail.
Appliance Plans
On the other hand, an appliance plan covers repair and replacement for up to ten major home appliances. These include washers, built-in microwaves, refrigerators, and other essential home appliances.
Combination Plans
The combo plan is a big-time warranty covering the repair or replacement of the combination of system plans and appliance plans. This makes it a warranty for twenty-one items in total. If you wish to have a warranty on both your home systems and appliances, a combination plan is the best way to go.
What is not considered covered in a home warranty?
Your home warranty will not automatically cover everything that gets broken in your home. Structural items are not considered to be part of a home warranty, like the walls and windows. Doors are also not part of a home warranty because it is not a home system or an appliance. These types usually belong to homeowners insurance.
Roof leaks are also not considered to be part of a home warranty. Although you may defend that it could be part of a plumbing issue in your home warranty, specifically in the system plan, roof leaks are not related to plumbing and are considered to be part of a structural item.
Other items include outdoor sprinklers, hot tubs, and swimming pools, garage doors, and more. Also, always review the cover of your home warranty since there may be included coverage depending on the type of home warranty you have.
Is there a limitation in the number of times you can ask for a repair or replacement?
This lies between what was stated on your contract. There are home warranties that do not limit the number of times they could cover a repair. Although, some do.
When is the perfect time to get a home warranty?
You can get a home warranty by the time you first buy your home or even anytime you have the ownership. Having a home warranty lessens new home buyers’ stress and anxiety, knowing that a home warranty covers the systems and appliances they have at home.
When purchasing a house, remember to ask the seller about the house’s warranty coverage- especially if the house and appliances inside are already old. It is ideal for getting a home warranty as soon as you can. But don’t rush; you still can do it even after months or even years after you have moved in.
Comparison of Home Warranty and Home Insurance
Home warranties are somehow similar to home insurance but differ in some ways. A home warranty covers the replacement and repairing of systems and appliances in your home. It provides you the protection that you need in case systems or appliances break.
On the other hand, home insurance also protects you but focuses more on a loss caused by a fire, explosion, vandalism could cause, and the like.
Takeaway
If you are afraid that an unforeseen house repair bill will soon get all your money, you should get a home warranty. It saves you from all the worrying and hassle. Thus, to help you know more about getting a home warranty, listed above is the necessary information you would need. Just remember, without a warranty, you cannot consider you are protected.
