Homeowners choose to buy home warranties to get maximized coverage for the unexpected. The warranties provide discounts and immediate savings on a variety of maintenance, repairs, and new installations the owner will need. The products can provide help for homeowners who don’t have extensive emergency funds to cover sudden repair costs.
How Long Do You Have Coverage?
The homeowner has coverage for 13 months once the home warranty starts. The owner must pay the same amount each year after their coverage period ends. If the owner makes changes to the warranty, the home warranty company will make updates to the coverage items and the annual cost.
If they reduce the number of products and systems covered by the warranty, the company also reduces the cost. Homeowners can learn more about what is covered under homeowner warrantiesby contacting the home warranty company of their choice now.
Is It the Same As Homeowner’s Insurance?
No, a home warranty is not like a homeowner’s insurance policy. A homeowner’s insurance policy covers the entire property, personal belongings, connecting fixtures around the property. The insurance provides coverage only if a predefined event causes property damage. If property damage happens because of events that aren’t included in the policy, the homeowner won’t get any coverage.
A home warranty is a product that provides coverage for all items listed in the warranty. If the items are damaged, the homeowner gets discounts on repairs, and if the products need to be replaced, the homeowner gets discounts on new installations. They won’t be denied coverage through the warranty if a covered event didn’t cause the problem.
How Does the Warranty Work?
If the homeowner needs repairs, maintenance, inspections, or replacement services, they contact the home warranty and submit a claim. The home warranty company contacts a service provider they have a contract with and sends the service provider to the property. The amount the homeowner will pay for the services is based on a discounted rate. They never pay the full cost of the services, and the home warranty company pays their portion first.
How Are Plans Set Up?
The homeowner can review several home warranty plans that are designed for specific installations, such as electrical, plumbing, or HVAC systems. They can also create a customized home warranty that covers more than a standard warranty. The home warranty can add all installations the owner wants to be covered by the warranty if these installations are eligible. This includes additional structures built on the same property such as pools, pool houses, or even guest homes.
Can You Add More to the Warranty?
Yes, if the homeowner has an existing warranty, they can make changes or add more items to the warranty whenever they want. If the homeowner decides to add new installations around the property, such as an outdoor kitchen, they can get coverage for electrical installations and appliances. When reviewing new installations, homeowners can get advice from their home warranty provider.
Homeowners purchase home warranties to get coverage for a variety of installations throughout their homes. All electrical, plumbing, HVAC, appliances, and electronics are often added to the standard home warranty. Homeowners can get coverage for additional installations around their property, too. If they upgrade the property’s exterior or add new rooms, they can add any new products to the warranties and maximize their coverage.