The Right Home Warranty for You

The Right Home Warranty for You

Homeowners review a variety of home warranty options for protecting their home and their installations. The home warranties provide a variety of plans for the homeowner, and they can review how the plans help them cover the cost of repairs, maintenance, and new installations.

A comparison for the home warranties shows the property owners what plan is best for their property and decreases their overall expenses. The age of the installations that are added to the home warranty could define how much coverage is applied.

Are Home Warranties a Requirement for Homeowners?

No, home warranties are not a requirement for anyone who is buying a home. However, the products are incredibly beneficial for the homeowner and give them discounts on repairs and new installations. The homeowner can get coverage for a variety of installations in their home such as their heating and cooling systems, plumbing, and electrical installations. Property owners can learn more about a 2-10 Home Buyers Warranty by contacting a home warranty company for more information.

How Are Home Warranties Different From Homeowner’s Insurance?

Home warranties are not the same as homeowner’s insurance policies. A homeowner’s insurance policy covers the property and provides funds to repair or replace the property. It provides coverage if a covered event caused the damage, and the terms outline what events are covered. For example, most insurance policies offer protection from losses due to disasters, fires, and vandalism.

The home warranty is not an insurance policy, and it doesn’t cover the full cost of replacement installations and repairs. They offer discounts for the homeowner and decrease the total cost. It is not the same thing as a homeowner’s insurance, and the insurance policy is required by all lenders when a buyer is purchasing a home.

Most Home Warranty Companies Have Existing Plans

When choosing a home warranty, it is beneficial to review existing plans and service agreements. Standard plans provide the homeowner with coverage for HVAC, electrical, and plumbing. There are separate plans that cover major appliances such as washers, dryers, stoves, ovens, and built-in microwaves. The homeowner can also add their hot water heater, outdoor stoves and ovens, or any appliances that present higher than average repairs or replacement costs.

How Soon Does the Owner Have Coverage?

The homeowner has coverage under the warranty as soon as they pay the annual service fee to the home warranty company. All installations that were installed in the property and added to the warranty are covered.

As long as the installation is included in the home warranty, the homeowner has coverage through the home warranty, and if they need repairs, maintenance services, or a new installation, they can file a claim through the home warranty company.

How Does the Homeowner Process a Claim?

The homeowner will call the home warranty company or set up a claim online through their user account. They provide information about the product including the manufacturer, the model, and the age of the product. If the homeowner has an existing manufacturer’s warranty for the product, they can also use it to cover some of the cost of the repairs or replacement services.

After the claim is processed, the home warranty company sends a prescreened service provider to the property, and they provide an estimate for their services. The home warranty company shows the homeowner how much of the costs are covered by the warranty, and they schedule the repairs or replacement services.

How Do They Choose What to Include in Their Warranty?

The property owner can consult the home warranty company about what installations they should add to the home warranty. The home warranty company provides them with a full list of all installations that are covered under their home warranty plans. The installations include all major appliances, swimming pools, Jacuzzis, and additional structures that are built on the property that extend the square footage of the entire home.

Why Is it Beneficial to Change the Warranty After Renovations?

After the property owner has completed renovations, the property owner will need to have the property measured to determine if they have added any square footage to the home, and they will need accurate dimensions to provide to the home warranty company.

The home warranty coverage requires the exact square footage of the property, and if the homeowner’s renovations added any living space beyond the original square footage, the home warranty company must update the information. If they added new structures onto the property that are connected to the home such as a garage, they will need to add these installations to their home warranty.

Should They Cover a Pool House Under the Warranty?

By building a pool house, the homeowner is increasing the size of the property, and they will need to add the pool home to the existing home warranty. The pool house is not attached to the primary home, but it does increase the size of the overall property and increases the value of the property.

Coverage is necessary for the pool house if the property owner wants to use a home warranty, and they have the option to set up a separate home warranty for the pool house. The home warranty company will provide a complete estimate for the home warranty and explain how the costs increase if the homeowner adds the pool house to the existing warranty.

Homeowners review home warranties and determine what products are best for their homes. The plans cover vital installations in the property such as plumbing and electrical systems, and they can get coverage for their heating and cooling systems. Homeowners pay an annual fee for the home warranty, and it gives them discounts on repairs and replacement costs for these installations.

When selling their home, the property owners can transfer the warranty to the buyer. They can also transfer the warranties to a new property if they want. The cost of the home warranties is determined by the square footage of the property and what installations the homeowner adds to the home warranty. The home warranty companies offer coverage according to the property owner’s selections.