Monday, February 12, 2024 / by Makayla Santa Ana
The Benefits Of A Home Warranty
A home warranty is a valuable asset to have if you are looking to invest in your house. A warranty covers the parts and/or services that are necessary to keep your home functioning properly.
It can range from things like major repairs or renovations, to smaller maintenance tasks, such as changing out a light bulb. Because these services are covered under a warranty, professionals do not need to be contacted for work to take place.
There are many different companies that offer warranties, so it is important to compare brands before choosing one. Some may be more expensive than others, but they all include similar benefits!
The advantages of having a warranty on your home go beyond saving money. It also helps ensure that your family is safe living in this property, which comes full circle.
This article will discuss some of the key reasons why a home warranty is useful and how to choose the right one for you.
Peace of mind
A home warranty can give you peace of mind. Even if your house is not damaged, they often include coverage for repairs or replacements in other areas of the home that may need work.
Home warranties typically cover items such as appliances, roofs, heating systems, water heaters, windows, and even outdoor patio covers. Some also cover outside furniture like sofas and chairs. This way, you do not have to worry about buying all new pieces once things are repaired or replaced!
These additional benefits show how important it is to have a good home warranty.
Will cover repairs no matter who does them
A home warranty is a valuable asset to have if you are buying or selling your house in the future. This coverage typically covers work done by either an authorized contractor or neutral third party, depending on what kind you choose.
Work can include anything related to the structure or interior of your home, it doesn’t need to be maintenance-related. For example, they may check the water pump on your washer or dryer, which helps prevent expensive damage or repair bills.
A manufacturer’s warranty will usually only apply to parts that fail inside the house, not to things like the lawn sprinkler system or foundation. A homeowner’s policy typically won’t because those items aren’t in their scope. A home warranty, however, will!
There are many different types of warranties out there, so make sure to do your research and find one that fits you best. Some offer limited coverage for a certain amount of time while others are all encompassing.
Can be added to your insurance policy
A home warranty is a valuable asset for your house-hunting adventure. Rather than buying a ton of features that might not work properly, a warranty covers all or some parts of your home’s upkeep.
Most warranties offer both in-home service and outside service (for things like HVAC, plumbing, electrical, etc.). This way you don’t have to worry about finding someone to take care of those problems while you’re away!
Some additional benefits of having a home warranty are stress relief and improved homeowner confidence. Since the warranty takes care of everything, you can focus on looking for your next house!
And aside from helping you find a new place to live, it gives you space to reevaluate your budget. It may even help you determine if this house is really worth what you want to pay. Sometimes a house that seems great at twice the price isn’t quite as good as it seemed.
If you’d like more information on whether a home warranty is right for you, check out our article on how to choose a home warranty company. You can also read our article on why you should consider a DIY home warranty before purchasing one.
Will pay for repairs regardless of who is at fault
A home warranty can also protect you from potential homeowner’s insurance fraud. Some individuals will attempt to avoid paying their full premium by reporting minor damage or loss as something more serious so they do not have to include this in their policy.
A warranty company investigates the claim, verifies proof of coverage, and then covers any work that needs to be done free of charge. This protects you against possible insurance scams because it removes the incentive to underreport damage.
Furthermore, most warranties offer optional services like check-wiring and inspection of neighboring homes which can help identify problems that may lead to expensive fixes later. These additional benefits are important to look into!
Will pay for repairs even if it turns out to be someone else’s problem
It may seem unfair to reward an individual for putting up a fence when what really caused the water damage was heavy rainfall, but many homeowners’ policies do not cover flood damages.
A standard homeowner’s policy probably wouldn’t either unless what happened is considered an accident. However, with a warranty you get protected no matter what happens.
Can reduce the need for a homeowner’s insurance policy
A home warranty is a valuable asset to your financial health as a property owner. Most major home warranties offer coverage for repairs or replacements of items that are considered essential to having a stable, comfortable home.
These essentials include things like your stove, refrigerator, air conditioner, washer, dryer, heat pump, pool heater, water purifier, dishwasher, and/or blender.
Some additional important covered appliances include: vacuum cleaner, lawn mower, motorcycle, boat, etc.
What Is a Home Warranties?
A home warranty is a contract between you as an individual buyer and a home warranty company that covers repair or replacement of certain critical parts of your home.
Typically, these contracts run for around two years and some have even been extended up to five! During this time, the manufacturer will pay to have their equipment repaired or replaced at no cost to you.
This way, you do not have to worry about finding money to cover the costs of repairs which can be very expensive if you are not covered by insurance. A lot of companies will also agree to waive their service fees during the term of the warranty (some even offer a discount!).
More importantly though, they may even pick up and move into your house so you do not have to find another place to live while the work is being done. This helps keep your life more normal while the work takes place.
Can save you money
A home warranty can help protect your home’s value by giving you coverage for major repairs or replacements. Most warranties cover items like plumbing, electrical, heating and air systems, as well as some components of the structure, such as roofs and foundations.
Some even go beyond that to include things like carpets and interior furniture. This is especially important if you are going through a remodel or want to sell your house soon!
A home warranty also helps ensure that your family is safe in their own home. Some warranties have check-lists of features that qualify as safety equipment, such as an alarm system and fire extinguishers.
What most home warranty companies will not do is take over responsibility for minor fixes. These might be something like replacing a washer due to mechanical failure, or fixing a leaky faucet. They usually stay within these parameters so they can avoid getting too involved with your home.
However, it is still beneficial to have this protection since it covers more significant issues.
Provides reassurance when selling your home
When you sell your house, one of the things that can be tricky is convincing potential buyers that the property’s current state meets their needs.
A lot of this depends on what features they want and what kind of lifestyle they are looking to have. Potential buyers may worry about whether or not the home has enough bedrooms for them and their kids, for example. Or maybe they don’t like how close the houses in the area are to the highway, so they wonder if their own car would get good service should something happen.
A warranty can help alleviate these fears. A home warranty company goes into your home as soon as you place it up for sale and makes sure everything works for an extended period of time – typically a year-and-a-half to two years! This gives your house more time to sit idle while people test out the surroundings, and it helps protect your investment because if there are any major repairs needed, the manufacturer covers them.
There are several types of warranties available from different companies. Some only cover parts such as appliances, whereas others also cover the rest of the home (the foundation, for instance). What type of coverage each company offers varies as well.
Will help you get a better price when selling your home
A home warranty can also help protect your house as well as your wallet in the event of an emergency or major repair. Most warranties offer limited coverage to make sure they remain competitively priced, but some go one step further by offering low cost repairs or even replacements.