About Home Warranty Plans ~ 101.
A Home Warranty Plan is not the same as your Homeowner’s Policy. A Home Warranty Plan is a one year service plan that usually covers your major home system components and appliances that can break down over time.
Often Real Estate Agents use home protection plans as a selling point to buyers giving them more confidence so they can rest easy that the home systems and appliances are covered. First time home owners and rental properties owners are another big user of these policies.
Coverage under these plans includes future normal wear and tear malfunctions during the contract term and not present problems. Usually a set fee is established for homes less than 5,000 square feet with additional costs applied to larger homes. Fees vary from company to company and service to service but a typical yearly fee can range from $400 up to $700 depending on what is covered and deductible. Most companies offer a range of deductible service fees from $65 up to $150.
Pools, wells, septic systems, ice machines are usually an addition cost but reasonable for a year of insurance.
It is important on these home warranty plans that you properly maintain your systems and appliances and have them professionally installed to qualify for full coverage.
Since many Home Warranty Companies work throughout the nation it is best to get local recommendation and referrals on how well their services are in your region. Friends, family, real estate agents and property managers are probably you best source for this. Last and not least read the contract fully to understand what and what-not is covered.
ActiveRain just posted some reviews on Home Warranties Companies.
Product Reviews and Ratings ~ http://activerain.com/action/product_sub_category/show/home-warranties-insurance?product_category_id=services
AR Blog "Home Warranties are they Worth it?" ~ http://activerain.com/blogsview/3807323/real-estate-home-warranties-are-they-worth-it-
RISMedia Article Feb '14 ~ "Installing Confidence in Buyers and Sellers - Home Warranties Cover all the bases"
This article has been written by David Popoff.
David Popoff | Broker
Direct Line: 203-228-0646
DMK Real Estate is a full service license Connecticut Real Estate Broker firm that serves lower Fairfield County. With lower overhead costs DMK Realty can fulfill buyers and sellers needs locally and on the internet at lower costs compared to the larger national brands.
David Popoff is a license Connecticut Real Estate Broker in Realtor lower Fairfield County, Connecticut.
DMK Property Management llc a locally owned company serving lower Fairfield County, Connecticut.
Specializing in Residential Property Management that can custom tailor a program to fit the homeowners needs be it short term or long term from rental management to full estate management.