Http://ipsnews.net/business/2023/07/22/important-home-warranty-facts/

Home warranties are contracts between a homeowner and an insurance company that provide coverage for repairs and replacements of certain items in the home. These agreements typically include a list of covered components, such as appliances, HVAC systems, plumbing fixtures, and roof components.

Importance of Home Warranties

• Provides financial protection against unexpected and costly repairs or replacements, reducing the risk of financial strain for homeowners.
• Can help prevent lawsuits by ensuring that homeowners are not liable for damages or injuries to others caused by the malfunctioning of their appliances or systems.
• May include provisions for coverage of maintenance and replacement costs, as well as deductibles and exclusions that can be negotiated between the homeowner and the insurance company.

Facts About Home Warranties

1. Typically require a deductible, which is the amount the homeowner must pay out-of-pocket before the warranty coverage kicks in.
2. Covering repairs or replacements may not include maintenance and upkeep services, such as routine cleaning or inspection of systems.
3. Exclusions may apply to certain types of damages or injuries, such as those caused by natural disasters or wear and tear over time.
4. Warranties usually have a specific length of coverage, typically ranging from one to five years, depending on the product and agreement terms.

https://ipsnews.net/business/2023/07/22/important-home-warranty-facts/