What Are Home Warranties?

Home warranties are agreements between homeowners and insurance companies that protect them against costly repairs and replacements for issues with their homes. These warranties typically cover major home systems, appliances, and fixtures.

Choosing a Home Warranty

1. Consider your needs: Think about the condition of your home and any potential risks that may affect its value. Consider factors like age, location, and overall condition.
2. Research options: Look into different Home Warranty providers to compare their coverage, pricing, and customer service. Check reviews, ratings, and testimonials from previous customers.
3. Determine your budget: Decide how much you're willing to spend on a warranty. Keep in mind that some providers may offer discounts for long-term contracts or bundled services.

Understanding the Contract

A Home Warranty contract typically includes specific coverage areas, exclusions, and limitations. Some common clauses include: * Coverage period: The length of time the warranty is active. * Exclusions: Items not covered under the warranty, such as wear and tear or normal repairs. * Limitations: What happens if your home falls in disrepair due to unforeseen circumstances.