Having a home warranty can provide peace of mind and financial protection, especially for homeowners who invest heavily in their property. A home warranty is a contract between the homeowner and an insurance company that covers repairs and replacements for major home systems and appliances.
Home warranties can be seen as a financial tool because they allow homeowners to budget and plan for unexpected expenses without worrying about the cost. By investing in a home warranty, homeowners can build an emergency fund or cover some of their ongoing expenses.
- Cooking and food spoilage: $200-$500 per year
- Plumbing issues: $300-$1,000 per year
- HVAC repairs: $300-$1,500 per year
A home warranty can also provide peace of mind for homeowners. By knowing that they are covered in case of unexpected repairs or replacements, homeowners can focus on their daily lives without worrying about the cost.