7 Questions To Ask Before Buying A Home Warranty

Are you planning to buy a home? A home warranty can provide peace of mind and financial protection. However, understanding what it covers and how it works is crucial before making a purchase.

What exactly does the home warranty cover?

A standard home warranty typically includes repairs and replacements for major appliances, plumbing fixtures, electrical systems, and structural components. It may not cover minor issues or cosmetic problems.

What is included in the warranty period?

The typical home warranty period is 1-5 years, depending on the provider and coverage options. Some warranties may include an annual renewal fee. Check with your provider for specific details.

Who can file a claim?

You or your landlord can file a claim for covered repairs and replacements, as long as you've fulfilled the terms of the warranty agreement. Some providers may require proof of ownership or rental agreements.

What happens if I need maintenance outside of the warranty period?

The home warranty typically only covers repairs and replacements within the specified coverage period. If you need maintenance during this time, you may need to pay for it out-of-pocket or consider an additional warranty option.

How do I file a claim?

Most providers have a process in place for filing claims. You can typically submit a request online, by phone, or in person at the warranty provider's office. Be sure to provide all required documentation and information.

What are the deductibles?

The deductible is the amount you'll need to pay out-of-pocket before the warranty kicks in. Some providers may have a fixed deductible, while others may have a tiered system. Check with your provider for specific details.

Can I cancel or change my home warranty?

The majority of home warranties are non-transferable and non-cancellable once the initial coverage period expires. However, some providers may offer flexibility to cancel or modify your policy after a certain amount of time.

Learn more about home warranties on St Hint