We do recommend home warranty insurance, and we could help
The home warranty insurance is fairly inexpensive, typically ranging from $250 to $400 a year, depending on the coverage you want. When a repair or replacement is necessary, the homeowner pays a trade fee, which is usually less than $100.
It pays all or part of the cost to repair or replace an item in your newly purchased home. Usually, the item will be replaced if the contractor hired by the company has determined that it's not repairable.
Because the last thing you want to worry about after closing on a home is what could break or malfunction, the insurance is a good idea. There are several warranty plans to choose from. Before choosing, it's important to make a list of each appliance and system that you want covered.
The National Home Service Contract Association, a nonprofit industry organization, says the best way to ensure a positive experience is for the company to provide the customer with clearly defined expectations of what a contract will cover.
For a quick reference remember the word PEACH: Plumbing, Electrical, Appliances, Cooling and Heating. Basic coverage does not include such things as the roof, windows, termite damage, or pre-existing conditions.
Sometimes the seller pays for the warranty coverage. It's to the seller's advantage to do so because it's a selling point. Further, the seller knows the new owner won't be calling after the closing if something breaks.
The policies are prepaid for a year in advance, at which time they expire or they can be renewed. Sometimes warranty companies compete with each other by offering discounted sales.