Covering Your Bases: Is a Home Warranty Right for Your Home?

ktichen appliances

When your home appliances break down, you have two choices; replace or repair and at your expense. But do you really need to cover the costs out of your own pocket? It turns out that by getting a home warranty, the insurance company will likely take care of the cost. Sounds great – so now, only one question remains: is it worth it?

What’s a home warranty for?

First of all, don’t make the mistake of assuming a home warranty will protect you in case of fire, flood, or other natural disasters. It won’t, as it’s only meant to cover your home appliances, such as washer, dryer, oven, heating, electrical, and cooling systems, etc. So if any of these items break down, the insurance company will take on the costs of repairs or replacements.

How much can you expect to pay?

This is rather hard to say, since not all insurance companies are the same so it does depend on the policy. Needless to say competition in the home insurance industry is strong and the household brands offering similar insurance products would also be competitive on price. What you end up paying will depend on what you want covered in the warranty. Itemising the appliances, their style, brand etc will assist in assessing value for money. Some appliances may not be accepted as part of the policy.

Generally home insurances in America start from $300 and may rise beyond $600. Some providers offer discounts to home buyers and they are deals on to attract new business so it pays to do your research before acceptance. Here’s a site that offers reviews home warranty products: https://housemethod.com/providers/home-warranty-reviews/ sites like this one reduce the time spent researching the products in the market and help you to discover what the best providers offer.

Does a Home Warranty benefit Sellers?

Home sellers, often purchase a policy to attract buyers. While lots of appliances and products come with warrantees having a policy is attractive to home buyers so it pays to fully understand the attraction of a home warranty as an additional benefit that will likely improve the outcome of a successful sale.

So, is a home warranty worth it?

Clearly, the answer to this question depends on whom you ask. For example, a home warranty is not needed in cases where the appliances are already covered by the manufacturer. But when we’re discussing older homes with older appliances, something can break down the very next day, which makes a home warranty well worth the consideration. The good thing about it is that most of the insurance companies out there won’t change their rates based on the age of your home or appliances, so you are free to take advantage of this.

Another benefit of a home warranty is that whenever something stops working, just make a simple phone call, and a repairman will come around to inspect it and resolve the issue. If you’re the type of person who prefers to be on the safe side, it’s definitely worth it, since the peace of mind this can bring is quite significant. However, do bear in mind that in some cases, the insurance company won’t cover all of the repairs, and you’re still going to have to pay a percentage of the bill.

Conclusion

To summarize, home warranties are an interesting option for those who are entering the real estate market, those who live in an older home, and those who like to have things under control. There are many insurance companies to choose from, and you have all the freedom in the world to choose a plan that best suits your needs.

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