Basics of Home Warranty- A Guide
Every homeowner needs to deal with some inevitable breakdown of the home systems and appliances. But a home warranty insurance policy can actually decrease the uncertainty and anxiety, which actually accompany all these events. But what is a home warranty? This article will explain.
The home warranty is basically a service contract, which offers for the repairing or replacement of home system components or appliances, which mainly fail because of age and standard wear and tear. For example, components of the plumbing and electrical, HVAC, washer/dryer and kitchen appliances are usually covered under this warranty. This type of warranty also covers large systems like spa and pools. Usually, home warranties have the contract terms of 12 months and these are not at all mandatory to get mortgages. It means, the home warranty is completely elective, but this is actually a smart purchase. Besides, one can also purchase system and appliance combo plans for almost $75 every month with the add-on coverage for the items like a pool or additional refrigerator available for some additional costs.
Now when you are aware of what is a home warranty, now the next thing is to know how this type of insurance coverage works. Here it is. For instance: in case the HVAC system of your home stops working, then a prescreened, licensed technician will visit your home and access the issues. In case it is determined that the home system or appliance is not working anymore because of regular wear and tear and age and in case the breakdown is covered under the service contract terms, then the service contractor will make the necessary repair. Or if needed, then they will also replace the system or appliance just for the service call rate. Usually, the one-time service call costs around $125 and the home warranty service provider will pay the rest. This way, the protection of home warranty will help to save around hundreds or thousands of dollars out of the pocket. Besides, this way, you don’t have to deal with the headache of finding a reliable service contractor to get the repairing job done.
Life happens and things break and it is really common. But when things or home systems break, a reliable home warranty service provider can make things easy by getting you a qualified service provider. This can keep you on ease while keeping a track of the budget in line.