Home Warranty Facts for Homeowners: What You Need to Know

Learn more about home warranty facts and how they can protect your investment.

Home warranties are insurance policies that provide financial protection to homeowners by covering the cost of repairs or replacements for major appliances, systems, and components. These policies typically require a monthly premium payment, which is usually paid on a monthly basis. The most common types of home warranties include:

• Home appliance warranty: Covers repairs or replacements for household appliances such as refrigerators, ovens, dishwashers, and washing machines.
• Plumbing warranty: Covers repairs or replacements for plumbing systems, including pipes, fixtures, and appliances.
• Electrical warranty: Covers repairs or replacements for electrical systems, including wiring, outlets, and lighting fixtures.

Signs that You Need a Home Warranty:

• If you've experienced frequent breakdowns or repairs for appliances, plumbing, or electrical systems within the past year.
• If you're planning to sell your home and want to protect yourself from costly repairs before listing it on the market.
• If you've had a recent flood or earthquake that may have damaged your home's systems or appliances.

Tips for Choosing a Home Warranty:

1. Research and compare different warranty providers to find one that suits your needs and budget.
2. Read reviews and check ratings from other customers to get an idea of the provider's reputation.
3. Make sure you understand what is included in each plan and what costs are added on top.