Home warranty coverage is a crucial aspect of protecting your investment in your new home. But how much do you really know about it? In this article, we'll delve into the world of home warranties and uncover the truth about what they cover, who offers them, and why they're essential for your financial security.
A home warranty is an insurance policy that covers specific repairs and replacements for major home systems and appliances within a specified timeframe. It's designed to help homeowners deal with unexpected expenses, such as leaky faucets or broken appliances, without having to pay out-of-pocket.
Home warranties are typically offered by home builders, manufacturers, and service providers. However, some companies specialize in providing warranty coverage for specific systems, such as HVAC systems or plumbing fixtures. It's essential to research and compare different options before choosing a provider.
A typical home warranty will cover repairs and replacements for certain major home systems and appliances, such as:
The cost of a home warranty varies widely depending on the provider, the coverage level, and the system or appliance being covered. On average, you can expect to pay between $300 to $1,000 per year for a standard warranty.
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The Truth About Home Warranty Coverage - Inspire Buddy