Many homeowners assume that because they pay for homeowners’ insurance, they don’t have to worry about making expensive repairs to their home’s systems and appliances. Unfortunately, that’s not true. Homeowners’ insurance policies only cover damage from certain events, usually restricted to unforeseeable natural disasters and thefts. Only a home warranty contract will cover damage due to general wear and tear.
What Are Home Warranties?
Home warranties cover appliances and systems to protect homeowners against expensive repair or replacement bills. They last for a year at a time and can cover anything from a few major kitchen appliances for the most affordable plans to the entire home’s appliances and major support systems. New homeowners who are on the fence about whether it’s worth taking out a warranty plan should read through the benefits below before making up their minds.
Protection Against Expensive Repair Bills
Homeowners who have home warranty plans don’t ever have to worry about paying out-of-pocket or, even worse, taking out loans to cover expensive appliance repairs and replacements. When something goes wrong, all homeowners need to do is call their warranty companies to have an inspection scheduled. When the technician arrives, the homeowners pay a reasonable service fee that works more or less like a deductible, then the warranty company pays for everything else.
Peace of Mind
Even if nothing goes wrong during a home warranty plan’s year-long term, the average homeowner still reports feeling satisfied with the purchase because it provided extra peace of mind. Without warranty protection, there’s no knowing when something will go wrong and deplete the family’s emergency fund. With a warranty in place, homeowners and their families can rest easy knowing that they won’t have to face huge repair or replacement bills.
For new homeowners, figuring out how to budget appropriately for expected expenses is hard enough. Trying to account for unexpected appliance and system failures that can’t be foreseen is almost impossible, and just one serious breakdown can disrupt the entire process. With a home warranty plan in place, homeowners won’t have to take on extra debt or choose between essential appliances and family vacations.
Make Homes Look More Appealing
People who plan to sell their homes need to take every possible step to make them look more appealing to qualified buyers, and having home warranty protection in place is a great way to do that. Most plan providers offer transferrable home warranty plans, which means home sellers can take out a plan, then buyers can choose whether or not they want to continue paying for it. In the end, everyone gets some extra peace of mind.
Start the Search Now
It doesn’t matter whether homeowners are planning to sell their properties and want to make sure the major appliances and systems will be covered during the interim period or are planning to live in the family home forever. Having a home warranty is a great way to protect against unexpected expenses. Get the search for a home warranty plan provider started as soon as possible to ensure adequate time is devoted to investigating options for warranty companies and available plans.