The home warranty insurance is considered to be one of the best methods of protecting the budget of a homeowner. But what is it actually? This article will offer complete information. For the homeowners, costly repairs are one of the biggest worries. So, what if somebody told you that you could actually alleviate all the fear with the knowledge that in case something breaks in your home, you will actually be able to get the coverage for a simple service fee? Does it sound really great to be true? Actually, this is not. In fact, the homeowners warranty is one of the best methods of protecting the budgets of a homeowner.
What is home warranty all about?
The home warranty insurance is basically a one year service contract, which covers both repairs and replacement of all the major home system components and appliances because of standard usage, failure and other issues that happen because of age. After one year, this coverage is renewable for a year.
What does home warranty cover?
The home warranty insurance mainly covers the majority of the home components and the large systems like the hot water heaters, HVAC system, electrical and plumbing system and more. This also covers the regular appliances like dryers, washers, stoves and refrigerators. Some of the plans also allow the homeowners to buy optional add-on coverage for the components like swimming pool, second refrigerator, spa, pumps and more.
How does home warranty coverage work?
While the home system or appliance breaks down, contact to your home warranty service provider immediately. In case the breakdown is covered by the plan, then the home warranty insurance service provider will set an appointment with a pre-screened and licensed service provider in your place. The licensed service technicians will assess the situation, your coverage option and then will inform you about the proper course of action to repair the appliances. You just have to pay them the service call fee and the rest of the cost would be covered by the home warranty providers.
When to purchase home warranty coverage?
You should only purchase the home warranty coverage after purchasing your home or anytime during the ownership. Moving and adapting to the new neighborhood can actually be stressful for you and also for your family members. Learning about the appliances, which are covered by the home warranty can actually alleviate a big deal of worry.