Home Warranties: A Brief Guide

Unlocking the Benefits: A Comprehensive Guide to Home Warranties.

Guest blog post by: Don Lewis, abilitylabs.com

Most people are familiar with home insurance, but how much do you know about home warranties? You may feel like a warranty is just another unnecessary expense, but if you own or are purchasing an older home, it may be a financial lifesaver. For example, a well-maintained furnace can last 15 to 30 years. So if you are buying a brand-new home, replacing a worn-out furnace may not be a top concern. However, if you are purchasing a home that is 15 years old, it may be worth investigating ways to save money on a furnace replacement, such as buying a home warranty. Still not convinced? Let Paris Group Realty provide you with a little more information about home warranties!

Understanding Home Warranties

Home warranties are service contracts that provide coverage for appliances and systems in your home that stop working during the coverage period due to normal wear and tear. Home warranties do not cover cosmetic damage, damage from theft or other perils usually covered by homeowners insurance, or appliances and systems that already have warranty coverage from the manufacturer.

Purchasing a home warranty can help you cover the cost of a major repair or replacement. Because it can be difficult to predict when a system or appliance will break down, budgeting for these expenses can be challenging. A home warranty is a predictable expense because you know the cost upfront; click here for more info on an option that’s well-worth considering. Having a home warranty can also save you time and effort because the warranty company will usually provide resources to help you find and hire a reputable contractor quickly.

Home Warranty Coverage

Different home warranties cover different appliances and systems. Most cover major systems, such as your furnace and air conditioning and appliances, such as dishwashers. Some also cover smaller repairs, such as ceiling fans and electronics. Some plans include discounted services for home maintenance.

There is usually a waiting period after you purchase your plan, so don’t wait until you think something is about to break to buy a warranty. Additionally, pre-existing issues are usually not covered, so don’t wait until after something has already broken either.

Make sure the systems and appliances in your home don’t already have warranty coverage. Do some research to determine how likely the systems in your home are to break down and what the cost to repair or replace them will be. Take into account how long you plan to live in the home. If you think you will sell before anything is likely to break down, a warranty may not be worth it.

Organizing Your Documents

You may need to refer to your contract when you need to make a claim or sell your home. Try storing digital copies instead of paper. This process makes your documents easier to access. And if you need to, then you can split a PDF into smaller files using this free tool. Once the pages are split, you can save the files, rename them, download them and share them with others.

Protect Your Home and Your Finances

An unexpected home repair can put a major dent in your budget. Purchasing a home warranty allows you to more easily budget for repairs and replacements so that you don’t have to worry about going without a major system or acquiring expensive financing to cover the cost. But don’t jump on the first home warranty company you find. Instead, look around for the policy that best suits your needs. And don’t forget to digitize your files and organize them using a PDF splitting tool so you can find them when you need them.

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