In case if you recently bought a home, you may be exploring ways to prepare yourself against expensive repairs and replacements of your home appliances and systems. Purchasing a home warranty insurance policy is the best way to go about it. The right home warranty plan can save you a great deal of money in the long run. However, homeowners do hesitate to go for home warranty insurance. There is nothing wrong with rethinking your decision before investing in a home warranty. After all, it is a major investment and you would want to make sure that it’s worth the money.
What are the benefits of home warranty insurance?
There are several perks of having a home warranty for the appliances and systems in your residence. In fact, home warranties have been gaining popularity among homeowners who are forward-thinking about future expenses and financing. Some of the key benefits of home warranty plans are:
1. Convenience
The home warranty providers have their own network of repair technicians and other professionals. This would save you all the trouble of having to find the right people for the job. Once the warranty provider approves your claim, they would send the technicians to your home. This ensures a great deal of convenience for homeowners.
2. Peace of mind
One of the biggest advantages of a home insurance warranty is the peace of mind that it guarantees. When you have a comprehensive home warranty plan covering your appliances, it would naturally save you from the anxiety of huge expenses. Especially if you are purchasing a home with used systems, you would feel more reassured if you have a home warranty coverage.
3. No need for DIY
Homeowners often have to go through the hassle of developing DIY skills, so that they can carry out repairs themselves. However, when your warranty provider sends you the technicians for the job, you do not need any DIY skills for it. It would also save you the expenses of having to purchase DIY tools for the repairs.
4. Savings
The key purpose of home warranty insurance is to help you save money on major repairs and replacements. For instance, repairing an HVAC system could turn out to be quite expensive. In most cases, homeowners find themselves unprepared to bear the costs. However, a warranty provider paying for the repairs would save you a lot of money.
Is a home warranty worth your money?
You might be wondering if it is worth spending on home warranty insurance, considering that you might not even need to submit a claim. Well, while you may or may not benefit from the insurance, it is certainly worth getting one. The money that you can save due to a home warranty coverage is far higher than what you have to pay for it.
Often, homeowners decide to not go for home warranty insurance, in a bid to save money. However, you might want to remember that you can pay for your home warranty in affordable installments. On the other hand, the bills for major home system repairs would be much higher, and possibly above your budget.
What does a home warranty cover?
A home warranty can cover various appliances and home systems. However, it depends on the insurance plan you choose. The wider the coverage, the more it would cost you. Generally, a leading home warranty company should be able to offer a warranty for the following:
• Plumbing
• Heating
• Air conditioning
• Electrical
• Garage door opener
• Kitchen appliances
• Washing machines and clothes dryers
Ideally, you would want to purchase a home warranty policy that covers as many appliances as possible.
When do you need home warranty insurance?
Ideally, one should always get a home warranty for appliances that no longer have the coverage of the manufacturer’s warranty. Purchasing a home warranty plan is definitely a good idea in case:
• You have purchased an older home with used appliances
• You do not know many reliable repair technicians in the locality
• You wish to plan strategically and keep your expenses low
• You are trying to attract a better price for a home you are selling
In any case, it would be smart to find one of the leading home warranty providers in your city and explore their warranty plans here