For new homeowners, a wide range of coverage opportunities on the market today can make it extremely difficult to find the right policy. When weighing out your options, it’s always important to bear in mind what you actually need and what’s already covered. While every case is different, here are five reasons you may want to look into getting a home warranty.
You’ve Got an Old Home
If your house has a few years on it and you don’t know how old your appliances are, repairs can start to get pretty pricey. Repairs on expensive appliances like refrigerators, ovens, dishwashers, washers and dryers, air conditioners, and water heaters can start to add up. For an average yearly cost of $300 to $600 a year, a home warranty can be a great option for those that want to avoid the inevitable expenses associated with old appliances starting to break down.
You’ve Got a Busy Schedule
When you’re weighing out your options, it’s important to consider your schedule.…
In This Topic, We Cover the Precautions For Protecting Your Home With a Home Warranty
Unfortunately, home warranty claims are occasionally denied. The reasons for this vary depending on the situation, but it’s helpful to be well versed in the ins-and-outs of home warranties so that you can try to avoid this situation and, if it does occur, know what to do.
First, let’s take a look at some common reasons as to why home warranty claims get denied:
The appliance is excluded from your home warranty coverage
This may seem obvious, but it’s one of the most common reasons for home warranty claims to be denied. When you purchase a home warranty, you decide how extensive your coverage is. That means that you make the decision about whether or not an appliance is covered. Before you submit a claim, take a look at your service contract to make sure that the appliance that you’re trying to get serviced is covered by your warranty.…
Deciding whether or not to purchase any kind of warranty often comes down to a simple question: is it a sound investment? Is the thing that you’re trying to cover, whether it’s a home or an appliance or a car, valuable enough to make payments to ensure that it’s covered?
That’s also the question that most people ask when they’re deciding whether or not to purchase a home warranty. And while there are rare circumstances when it may not be the best choice, more often than not home warranties are a solid investment. Let’s take a quick look at the numbers:
Home warranties cost anywhere between $300 and $600 a year. On average, homeowners spend about $300 a month on home maintenance. Now, a portion of the $300 a month spent on home maintenance likely goes towards things not covered by a home warranty (new exterior paint, for example). But, even if only a small portion of that amount goes towards the appliances and systems covered by home warranties, you’re still saving a lot of money.…