What is a Home Warranty?

    shutterstock_74536378When you purchase real estate, you’re making a big investment. In fact, for many individuals, the purchase of a home is one of the biggest investments they’ll make in their lifetime. Making sure that this investment is protected is extremely important. While most people understand the importance of having homeowner’s insurance, a home warranty is an excellent way to fill in the gaps.

    A home warranty is basically a service agreement that covers the major appliances in your home. While homeowner’s insurance is an excellent way to protect your home in the event of a major disaster, whether it be wind, flood or fire, a home warranty will protect you from the expense of repairs and replacement of major home system that fail due to regular use. This type of failure that results from daily use is not covered by a typical homeowner’s insurance policy.

    When purchasing real estate, it can be hard to know how well appliances and HVAC equipment have been maintained or serviced. Purchasing a home warranty offers an excellent measure of protection. Not only will having a home warranty provide peace of mind, it is also an important part of protecting your budget. Let’s face it, for most people, unexpected repairs can wreak havoc with their budget.

    It’s important to understand that there are big differences between various home warranties. Make sure you know exactly what is covered and what isn’t. Sometimes, you’ll need to purchase additional warranty coverage if you want your home’s AC or refrigerator to be included in the warranty. Additionally, a home warranty does not mean you can choose whoever you want to do the repairs. If you need repairs for something that is covered under your home warranty, you’ll need to contact the company that issued the warranty. They will schedule one of their repair technicians to complete the work.

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