Home Warranties

When you shell out a lot of your hard-earned cash for a nice, new flat screen TV, you probably purchase a warranty on it. Why wouldn’t you do the same for your house, which cost you so much more? Home Warranties are great for protecting your newly purchased home from everyday wear and tear.

What is a home warranty?

A home warranty is a contract between you (the homeowner) and a company that commits to repairing or replacing most major systems and appliances in your home if and when they break down. In exchange, you pay an annual premium for the warranty and a minor service fee for visits from specialists (like electricians and plumbers) when they are sent to make repairs or replacements in your home.

Why would I need a home warranty?

Unless you wrap all your appliances in bubble wrap and never use them, you can’t prevent all normal wear and tear to your home and your appliances. Even if you take excellent care of them, your fridge, air conditioning, or electrical system will eventually break down. Home warranties can save you a lot of money and prevent a lot of frustration.

If you’re buying a new house and you’re worried that something you can’t afford to fix will break or if you simply hate dealing with the hassle of finding and hiring contractors or professionals every time you need something repaired, a home warranty can give you peace of mind. If your air conditioning breaks down on the hottest day of the year, your home warranty will spare you the potentially huge expense of repairs and the frustration of having to find a professional. They’ll send in an approved professional to fix the problem for minimal fees, with minimal frustration.

What would a home warranty cover?

Coverage varies from warranty to warranty, but many home warranties will cover systems like your air conditioning, furnace/heating system, water heater, ducts, plumbing, electrical system, and telephone wiring. They also frequently cover major appliances and fixtures like dishwashers, garbage disposals, ranges and ovens, built-in microwaves, refrigerators, ceiling fans, and washers and dryers.

What’s the difference between homeowner’s insurance and a home warranty?

A homeowner’s insurance policy protects you from loss if there is a major disaster, like a tornado, fire, or theft. A home warranty covers repairs or replacements that result from everyday wear and tear. They both cover the same things, but they protect them from different dangers. You can have both a homeowner’s insurance policy and a home warranty and be protected from damage caused by the mundane and the extreme.

Interested in a home warranty? Contact an Adkins Insurance Expert to discuss your options.