Debunking 7 Common Misconceptions About Home Warranties

A home warranty is a contract between you and your home's manufacturer, service provider, or retailer that covers repairs and replacements for major appliances, systems, and structures.

Myth #1: Home warranties only cover expensive items.

While it's true that home warranties often include coverage for high-end and costly items, they can also help protect against more affordable maintenance costs. For example, a roof inspection may reveal issues with your gutters or flashing, which can be costly to repair. A warranty can provide peace of mind in these situations.

Myth #2: Home warranties require you to live in the home for a certain period before coverage kicks in.

No, this is not true! Home warranties typically kick in as soon as you purchase or install the covered item. You can choose when and how often you want your warranty to go into effect – but once it's activated, it's yours to use until it expires or is cancelled.

Myth #3: Home warranties only cover repairs, not replacements.

That's a misconception! Many home warranties include coverage for replacement items, such as new windows or doors. Some warranties may also provide maintenance and repair services for minor issues.

Myth #4: Home warranties are only available to homeowners who live in the same house for an extended period of time.

Nope! While it's true that some home warranty programs focus on long-term relationships with homeowners, many others accept new homeowners right away. Check your policy or contact your provider to see if you're eligible to get started today.

Myth #5: Home warranties are a way for manufacturers to take advantage of homeowners who can't afford the cost of major repairs.

No, this is not the case! Home warranty companies work with home owners to determine their financial readiness for coverage. If you're financially able to absorb the costs of major repairs, a warranty may be a good option for you. But if budgeting concerns apply, it's worth exploring other options first.

Myth #6: Home warranties are only available through traditional manufacturers or retailers.

Nope! Today, home warranties can be purchased directly from the manufacturer, service provider, or retailer. Many companies offer online platforms and flexible payment plans to make it easier for homeowners to get started with a warranty that fits their budget and needs.

Myth #7: Home warranties are too expensive compared to other maintenance and repair options.

A common misconception! While home warranty premiums may be higher than some other maintenance services, they can provide long-term savings on costly repairs. Plus, many homeowners find that the peace of mind and convenience of a warranty far outweigh the initial cost – and that's priceless!

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