When you buy a house, especially as a first-timer, you are joyful about it. After then, there is a high possibility that you’d be offered a warranty to help you with unexpected repairs in the house. It definitely sounds like a good offer for homeowners. But is it really a safety net? Follow closely as this is what would be discussed in this article.
What is a Home Warranty?
A home warranty is a contract between you and the company that will provide insurance in case something goes wrong with your house. A typical homeowner’s policy does not cover damage to the property from issues such as faulty wiring, clogged plumbing, or termites.
However, homeowners may purchase additional coverage from their insurer for these types of things. For example, if an electrical cord causes a fire in your home, this would be covered by your home warranty regardless of whether or not it was intentional. A homeowner’s insurance plan typically covers damages caused intentionally by people living in the house at the time of the incident, but most do not cover any accidental damage from appliances or anyone living there.
In order to have a home warranty, you must be the legal owner of your house and ensure that you only hire a reputable company to provide a contract for your home. There are many companies who claim to offer this type of service so it is important that you find one with a good deal or policy.
How’s a Home Warranty Useful?
A home warranty provides homeowners with protection for their homes. Well, if you are able to secure a contract with an award-winning home warranty company, the better for you. The warranty policy ensures that any damage done to the house or appliances will be fixed free of charge by approved vendors.
The biggest advantage is that it’s not expensive at all because you only pay a monthly fee so you could get money back in the long run.
Benefits of a Home Warranty
A home warranty can prove beneficial in certain circumstances. A contract will ensure that any damage to electrical wiring or water heater will be cost-effective. The warranty can be beneficial for first-time homeowners since they may not know the basics of maintaining their house.
What to Look for in a Home Warranty Company?
The company should provide you with a list of services and rates beforehand: All home warranty companies should provide the client with a comprehensive list of service providers so that homeowners can get their homes repaired without any hassle.
Look for warranties offered by reputable companies: Reputable companies are more likely to provide the services promised because they don’t want to end up in court with you. Most of them have reputation management systems that allow customers to give feedback about their services.
Look for a contract that covers a wide range of appliances: You should consider purchasing warranties that cover all or most household appliances since these can cause significant damage to the house and to you.
Look for warranties that are easily accessible: If your warranty service is only available during office hours from 9 am to 5 pm, then you’ll end up paying additional fees to have any repairs made outside of these hours. Therefore it would be best if your warranty services could be provided after working hours so that you would not have to pay extra.
The most important thing is to remember that your warranty agreement should benefit both parties, not just the company you’re giving your money to.
Home warranties can provide benefits when selling a house since there are people who would want to move into new places without being afraid of spending too much. Most buyers have heard horror stories about homes when purchasing one, so this will definitely take away their fears.
Home warranties can be useful by ensuring that any damage made will be covered rather than having the homeowner deal with it. The contract between yourself and the company will be beneficial for both parties.