What is a Home Warranty?
A home warranty is a protection plan that covers the cost of repairs and replacements for certain major components of your home, such as appliances, plumbing, and electrical systems. It's designed to give consumers peace of mind when it comes to their home's maintenance and repairs.
Benefits of a Home Warranty
- Financial protection against unexpected repair bills
- Numerous coverage options to choose from
- Flexibility in choosing the coverage period and plan
- Convenient claims process through a third-party administrator
When to Buy a Home Warranty
To get the most out of your home warranty, consider the following factors:
- Cost: Compare the cost of the warranty to the repair costs.
- Coverage period: Choose a plan that covers repairs and replacements for at least 12-18 months.
- Component coverage: Make sure the plan covers the components you need protection on.
Types of Home Warranties
A home warranty typically includes coverage for:
- Major appliances and systems, such as refrigerators, ovens, dishwashers, and HVAC systems
- Pipe and electrical system replacements
- Plumbing leaks and burst pipes
- Cabinet and furniture repairs