What Is A Home Warranty? Where Do I Buy A Home Warranty?
Home Warranties were developed in the late 70's to protect home owners against costly repairs or replacements which may arise to any major system or appliance in their home. Home warranties are designed to cover the major systems in the home; the plumbing, electrical, air conditioning and heating and the built in appliances within the living space of the home and the garage due to common wear and tear.
When a system or appliance fails, the homeowner can call the Home Warranty Company, pay their deductible and if the system or appliance is covered by the plan it should be fixed or replaced. An appliance or system must be irreparable in order to be replaced.
The co-pays for Home Warranty Companies are not costly. The average runs between $55 and $75. This is another distinction between home warranties and home owners insurance where the deductible can run anywhere between $500 to $2000.
Additional coverages can always be purchased with a Home Warranty plan such as washer/dryer/ refrigerator, pool/spa coverage and roof coverage. Most home warranty companies have upgraded plans which can save home owner three to four times the repair and replacement costs versus the Standard plans.
There are many options to choose from when selecting a home warranty company. It's important for prospective home buyers to consult an experienced Realtor who should direct them to a reputable Home Warranty Company.
For more information about home warranties feel free to contact my preferred Home Warranty Company/Representative:
Yvette Meyer at OLD REPUBLIC HOME WARRANTY