What are Home Warranty Programs?
Home warranty programs are insurance policies that cover the cost of repairs and replacements for major appliances and systems in a home, such as HVAC, plumbing, electrical, and appliances. These programs are usually offered by manufacturers or third-party companies and provide financial protection to homeowners who purchase them.
The Benefits of Home Warranty Programs For New Builders
A home warranty program for new builders can bring several benefits, including:
- Financial Protection: By having a warranty in place, homeowners can avoid financial ruin if unexpected repairs or replacements are needed.
- Increased Property Value: A well-maintained home with regular repairs and replacements can increase its value over time.
- Reduced Stress: Knowing that your investment is protected can reduce stress and anxiety for new builders, allowing them to focus on the build process without worrying about major expenses.
How Do Home Warranty Programs For New Builders Work?
A home warranty program typically consists of a set of components that are included with the purchase of a new home. These may include:
- A list of covered appliances and systems, such as HVAC, plumbing, and electrical
- Costs for repairs and replacements, which are usually based on a schedule or mileage-based model