Are you aware of what home warranty coverage and insurance entail? A home warranty is a contract between you, the homeowner, and an insurance company that covers specific maintenance and repair costs for your primary residence. Understanding the ins and outs of home warranty coverage can help you avoid costly surprises and ensure peace of mind in the event of unexpected repairs.
Types of Home Warranties
- Carpentry Services: Covers labor costs for carpentry-related repairs, such as roof replacements or siding installations.
- Plumbing Services: Covers labor costs for plumbing-related repairs, including water heater installation or leaky faucet fixes.
- Electrical Services: Covers labor costs for electrical-related repairs, including wiring upgrades or appliance replacement.
Coverage and Exclusions
Home warranties typically cover a range of expenses related to maintenance and repair, but may have exclusions for specific situations. These include:
- Labor costs above a certain amount (e.g., $100-$200)
- Repairs that are not necessary or require additional inspections
- Exclusions for items that are already covered by other warranties, such as appliances or major systems