Many people confuse home insurance with home warranty, and also think that warranties are something which is included in the home insurance. But this is just a misconception since warranties are taken to insurance your appliances and protect against repairs and replacements if need, while a home insurance is taken for the entire home, but which does not cover appliances.
But the main question is what is home warranty and why is it needed, or rather do we actually need it. Home warranties in general terms is a contract which is entered into by the warranty provider and you, to take acre of any major or minor repairs for your appliances, electrical and even plumbing systems.
You might consider taking up a home warranty if you have old appliances, you don’t have time to make minor repairs yourself, you don’t know a trusted contractor who will not try to rip you off. But the main reason might be, you just don’t have the budget for the costly repairs which is more the reason why you should take up a home warranty.
Getting an estimate will not hurt anyone and won’t cost you much in the first place. For new homeowners, this is not a pressing problem since there is a good chance you might have opted for home warranty when you signed the purchase or lease agreement. But for existing homeowners, getting a home warranty or renewing your online plan will give you peace of mind.
It is advisable to conduct periodic inspections to ascertain the wear and tear of your house and appliance for that matter over the years. But most importantly because, now might be a good time to take up that home warranty because a number of repairs will be due. Vital electrical systems and plumbing systems will need servicing and repairs, or even to some extent replacement. You will have to incur the entire cost I there is no warranty, but in case you have opted for the contract, it is the service provider’s responsibility to take care of all these issues as stated in the contract.
Ensure that you check the list of appliances which are covered under warranty before taking up that contract. A basic list includes, inside electrical systems, appliances, heating and air conditioning and to some extent interior plumbing, not including the fixtures for some contracts. There are a number of benefits of taking up a home warranty. The contract does take care of costly repairs, covers major appliances, covers multiple contractors visits amongst many others.