Home Warranty Facts to Keep in Mind

Are you due for a home warranty? Here are some facts to keep in mind:

A home warranty is a protection plan that covers repairs and replacements for major appliances, systems, and components in your home.
Typically, home warranties cover items such as water heaters, HVAC systems, plumbing, electrical systems, and appliances like refrigerators, ovens, dishwashers, and washing machines.
Purchasing a home warranty can be more cost-effective than paying for repairs out of pocket. In fact, a study by the Insurance Information Institute found that homeowners who purchased home warranties saved an average of $1,300 per year compared to those who did not have one.
Home warranties usually come with a deductible and coverage limits. Make sure you understand what's covered and what's not before purchasing a warranty.
Some home warranties also offer additional benefits like maintenance plans, repair credits, and even upgrades to new appliances or systems.

Benefits of Home Warranties

Here are some of the top benefits of home warranties:

Deductible-free repairs, so you won't have to worry about paying out-of-pocket for maintenance and repairs.
Protection from costly unexpected expenses, like replacing a water heater or HVAC system due to neglect or wear and tear.
A home warranty can give you peace of mind, knowing that your home is covered in case of an emergency or major issue.
A well-maintained home can be more valuable than one that's not. A home warranty can help protect your investment.

Here are some steps to get started:

Research and choose a reputable home warranty provider that offers coverage for your specific needs.
Negotiate the terms of the warranty, including the deductible, coverage limits, and any additional features you want.
Review the warranty carefully before purchasing it to ensure you understand what's covered and what's not.

A home warranty typically covers repairs and replacements for: