A home warranty is a type of coverage that secures the appliances of the house. To safeguard the valuables contained in your house against different types of damages and due to different situations, home warranty proves to be very helpful. Many of the people are now aware of this type of coverage.
How home owner’s insurance is different from home warranty?
A homeowner’s insurance provides coverage to the house of the person against any serious damage. These damages can be robbery, fire, etc. A home warranty for appliances, on the other hand, is limited to the protection of selected house appliances such as furnace, windows, and other valuable home appliances.
Who is responsible to pay for the warranty?
When you buy a home warranty, the selling company provides compensation to the buyer to fix any undue damages in an affordable manner.
When should one take a decision to buy it?
Home warranties are considered to be an intelligent purchase. This warranty is provided to people when they buy home from the previous owner of the house. This warranty becomes more profitable when you move to an old home that has outdated appliances.
The money that can be reimbursed by a home warranty supplier is equal to or more than the total cost incurred in repairing.
Till what period can you avail the benefit of house warranty?
Most of the home warranty that is offered by companies lasts for only three months to a year. After this period, the manufacturer takes no responsibility for the breakdown of the appliance. To get continued protection for a long time, you can go for an extended appliance warranty option. Extended warranties are available for different duration and cost.
How beneficial is to get extended warranty?
You can also get an extended warranty at a very less price. As the appliances tend to lose their efficiency with every passing year, spending a few bucks on buying an extended warranty will be beneficial for the house owner.
The cost that you would incur in replacement of your major, large and costly appliances such as windows, furnace, etc. in the house will always be higher than the investment you make while buying an extended warranty.
With increasing prices, the cost of home appliances such as television, computer, refrigerator, washing machine, oven, etc. that people use today has also become very expensive. They are based on newer and advanced technologies that are made to offer various features to enhance the comfort of the person.
As every appliance comes with a shelf life, with several years of use they become prone to damages and break down. Buying a new one in place of them or repairing them will involve a lot of expenditure. When you have a home warranty with the extended coverage, you will pay significantly lesser amount than what you have paid for their repair/replacement.
Knowing the basics of home warranty will help one make an informed decision. Investment in this coverage helps you get a peaceful sleep with an assurance that you are completely insured.