A home warranty or a homeowners warranty is a yearly contract. You pay a set fee, and in return, the warranty company agrees to help pay for certain home repairs or replacement items.
Nothing’s worse than buying something and having it break right away. What makes it worse is if what breaks down on you is expensive!
So Home Warranties were invented:
Why: to help you replace or repair something that breaks after you buy it.
If you’re buying a house—especially an old one—maybe you should be considering a home warranty.
A home warranty can help cover the costs to fix expensive and unpredictable problems with household appliances and other item, like a busted air conditioner or broken dishwasher.
Kitchen appliances, washers and dryers, water heaters and major components of the HVAC, plumbing and electrical systems are eligible for coverage, and some plans cover much more.
Make sure you know what you’re buying when you sign up for a home warranty. What they offer and what they exclude can range pretty widely between companies and it's best to know upfront what you’ll be responsible for paying out of pocket.
There are many Options to Choose from.
The best way to know what your plan covers is to read the contract.
WHAT MOST HOME WARRANTIES COVER?
Home warranty coverage varies, depending on the company you’re using and the plan you buy. But most home warranties include repairs to working parts of your home like:
The more things you want home warranty coverage for (like a swimming pool pump or a garage door opener), the more you’ll pay in your monthly or annual bill to the warranty company.
IF by chance your hot water heater stops working: