When things break down in your home, you will quickly understand the importance of a home warranty. Most all of us have appliances in our homes that we use daily. These include plumbing systems, heating systems, dryers, washing machines, garbage disposal units, ovens, ranges, microwaves, and other electrical systems. Warranties are there to provide protection when things stop working. Mobile phones, TVs, automobiles, and computers have limited-term warranties. However, the place where most of our appliances are based is our home and it is beneficial to have a home warranty as well. Home warranty policies provide the necessary protection in the event of things going wrong with any of the appliances in our homes.
So When Would You Typically Purchase a Home Warranty?
For most folks, home warranties are purchased at the time that the home is bought. Choosing the right home warranty provider is really important. These home warranties can be thought of as guarantees against the inevitable breakdown of home appliances. Big-ticket items like refrigerators, boilers, AC units and ovens can be extremely costly to repair without a home warranty in place. This brings us to the next question: what appliances and systems do home warranties cover? It’s important to note that a home warranty is different from homeowners insurance. The latter covers things like damage that occurs to your home by torrential rains and flooding, electrical fires, perhaps even sinkholes. When it comes to home warranties, it’s a different kettle of fish. We’re talking about the wear-and-tear that takes place on appliances from their daily use.
Appliances Eventually Break Down
Things like the seals on refrigerator doors, the refrigerator motor, electrical components and wiring on appliances, the spinning drum in a washing machine or dryer, and so forth are all concerns. These are the items that are typically covered in home warranties. Depending on the type of home warranty you have opted for, your coverage for replacement or repair will vary. Choice home warranty offers a wide range of coverage for many appliances and home systems, including sprinklers, pool motors, spas and Jacuzzis etc. Affordable pricing and a wide range of coverage options ensure that homeowners are always able to afford coverage based on their budget. It’s important to point out that homeowners insurance is mandatory when you’re taking out a mortgage. Banks and financial institutions want to ensure that their investment is protected while you owe them money. However, a home warranty does not affect the banks in any way and it’s an optional insurance.
Avoid Unexpected Fees – Buy Home Warranty Insurance
Most of the time, you can get the best deal for a home warranty insurance plan if you purchase it at the time that you’ve bought your home. Once you have completed a year of coverage with the company of your choice, you can renew the contract, or choose a different one. As a new homeowner, there is nothing worse than all the unexpected expenses you will encounter after you buy a home. The last thing you want to be dealing with is your appliances breaking down after you’ve shelved out all of that money for realtors’ fees, transfer fees, mortgages, insurance and the like. Occasionally, a seller will throw in a home warranty policy for the full year – fully paid – to entice the buyer into the sale. If you have brand-new appliances under warranty from the manufacturer, it is less likely that you will require a home warranty during your first year in your home. However, most appliances have already reached their sell by date in terms of manufacturers warranties and home warranty insurance will be needed. One thing that is guaranteed in a home: things break. The cost of repairing an expensive stove, boiler, dishwasher, microwave, refrigerator or dryer is simply too much for a new homeowner on a tight budget. That’s where it becomes important to buy home warranty insurance the minute you move into your home.