Home warranties are contracts between a homeowner and an insurance company that provide financial protection against costly repairs and replacements for major home systems, appliances, and components.
- Ventilation Systems: Air conditioning units, fans, heat pumps, and other HVAC systems
- Cabinets and Countertops: Kitchen cabinets, countertops, sinks, and stoves
- Plumbing Fixtures: Toilets, showers, bathtubs, and sink drains
- Appliances: Garbage disposals, refrigerators, dishwashers, washing machines, dryers, ovens, ranges, and microwaves
- Bathroom Fixtures: Showers, bathtubs, sinks, toilets, and faucets
- Tire and Wheel Replacement: Tires and wheels due to wear or damage
Home warranties can be taken out at the time of purchase of a home or added later during the first year of ownership. Typically, they last for 1-5 years, depending on the type and terms of the warranty.
- Typically, most homeowners opt for 2-year warranties
- Some companies offer lifetime warranties or extended warranties that can provide protection for up to 10-15 years