Owning a home is one of the largest financial commitments that most people undertake in their lives. Homeowners must budget for the mortgage, taxes and insurance as well as set aside money for necessary repairs as needed.
A home warranty helps homeowners by offering a service contract to handle the breakdown of your home’s major mechanical systems and home appliances, such as your refrigerator, garage door opener, air conditioner and more. When these items break down, repairs can be costly, ranging from a few hundred to a few thousand dollars. By purchasing an annual home warranty, homeowners can save money on the repair or replacement of any of their covered appliances and home systems. A policyholder only pays the cost of the service visit from an independent contractor hired by the home warranty company.
There are specific mechanical systems and appliances covered by your home warranty. Mechanical systems include air conditioner, furnace, water heater, electrical, central vacuum, plumbing and duct work. Major appliances can include refrigerator, washer, dryer, dishwasher, range, microwave oven, garage door openers, garbage disposals, trash compactors, smoke detectors and ceiling fans. Home warranty companies generally charge an additional cost for coverage on a pool, spa, hot tub, well pump or septic pump.
For an owner wishing to sell their home, a home warranty is attractive to potential buyers as it can offer peace of mind to the new occupant. Home warranties can be purchased for any home, new or old, at any time. Depending on the provider, the home warranty company will quote the warranty price based upon the age, size and market.
A home warranty offers homeowners confidence that they will be able to financially weather home system breakdowns and appliance repairs when they (inevitably) occur. For these reasons, a home warranty is a good investment for any homeowner.
Be sure to visit American Home Shield to learn more about home warranties and how you might benefit.
Post Author: andyc.