Home Warranties Make Great Safety Nets

Home Warranties Make Great Safety Nets

iStock_000016801117XSmallIn the minds of many, a home warranty is just another insurance policy. It would be an easy “no” decision for those who are weary and leery of the economic pinch and so-called benefits associated with extended warranties. However, a home warranty should not be mistaken for its counterpart used in one-off purchases like computers, televisions and stereo equipment. Home warranties cover a wide array of items under one contract—from appliances like dishwashers, refrigerators and dryers to utility components such as water heaters and air conditioning units.  A home warranty is not just an insurance policy — it’s a safety net.

With a home warranty, which can run from $300-$500 annually (depending on your geographic location), you don’t have to concern yourself with finding the right repair company to fix problems or negotiate fees. Your home warranty provider manages this on your behalf. Typically, your annual fee with the exception of a small co-pay covers repairs or replacement costs. With appliances ranging anywhere from a few hundred dollars into the thousands, a home warranty can look very reasonable.

Who is a good candidate for a home warranty?  It can be anyone from first-time homebuyers, landlords and financial investors to frequent business travelers or those who have older homes anticipating near-future repairs.  Real estate agents are good go-to sources for referrals or learn more by visiting: www.homewarrantyreviews.com.