Home warranty is an agreement between a homeowner and a business that provides discounted costs on major home repairs. Purchasing a home warranty provides protection against unexpected, necessary repairs that may place great strain upon your finances.
Most warranty plans contain a basic component that provides coverage for certain home repairs. You can also purchase additional coverage by paying extra to the home warranty service provider. A typical home warranty covers repairs on major home appliances such as dryers, washers, etc; as well as furnace, plumbing, and electrical systems.
There are various benefits of purchasing a home warranty. For a homeowner who doesn’t have an emergency fund, a home warranty may be the only protection against unforeseen repairs. Here we reveal some of the most important benefits of buying a home warranty:
1. Perfect Peace of Mind
The foremost reason to buy a home warranty is that it provides a peace of mind against the peril of costly home repairs. You cannot fathom when a costly home repair will arise. Many home repairs can take away a major chunk of your wallet or add a significant amount to your credit card. With a home warranty, you can rest easy knowing that the home warranty provider will take care of the problem in case of any unexpected repairs.
2. Avoid Unforeseen, Costly Repair Bills
Another great reason to purchase home warranty is that it will protect your investment against unforeseen and costly repairs. Especially in older houses or with older appliances, essential repairs tend to occur out of the blue. Some of these repairs need to be dealt with instantly, to prevent further damage. With a warranty on your house, you just have to inform your service provider and they will instantly take care of all the repair work in your residence.
3. Savings on House Repair & Maintenance Cost
Finally, home warranty allows you to save money in terms of reduced repair and maintenance cost. You do not need to spend on costly repairs, in case your HVAC system breaks down during the middle of winter or summer season. If you buy a home warranty, sometimes all you need to pay for is a service call fee and your home warranty service provider firm will take care of the rest.
On an ending note, a number of people are in the dark about home warranties. A home warranty is certainly not the same as home insurance, nor is it a replacement for it. Home insurance provides protection against major perils like fire, flood, hail, theft etc. Home warranty, on the other hand, provides insurance against unexpected home repairs. When something that is covered in the home warranty breaks down, you just have to call your home warranty service provider and they will take care of the problem.
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