Homes have many systems and appliances that need constant care and maintenance. Maintenance costs can be expensive over time if you don’t have a home warranty. Though warranties are popular with new homes, even after you’ve gotten into your house, you can still apply for a cover from americanresidentialwarranty.com. Buying home warranty plans may seem expensive, but it can save you a few dollars in repairs for many appliances over a year or two. This article tells you why having a home warranty can save you thousands of dollars in repairs and maintenance.
- It’s Cheap
Buying a home warranty will ultimately save you money. Though premiums from various companies vary, the cost required to repair items all around the year is more expensive. Fortunately, some companies offer warranties as low as $300 for the basic plan and $500 for plans with additional coverages.
Regardless of how well you maintain your home, things will keep on breaking down. It would be disastrous if your most valued and used appliances broke down at a time you didn’t expect. That can not only be time-consuming but will also be demoralizing. For example, if you want to take a warm bath and realize that your heating system has a problem, bathing with cold water, especially during the winter, may not only affect your health but also make bathing a living hell.
Besides that, you may have appliances that need maintenance every single time. Using your money to foot such bills could be very expensive. However, if you buy a home warranty for such items, it’ll protect you from financing some repairs. Warranties are mostly a good option for homeowners who don’t have big budgets for repairs. It’s also designed for you if you don’t want to make a huge dent in your savings.
In case a covered item breaks, you can send an email or call your warranty company to send a technician to fix the item. Most warranty companies will also be glad to replace such items if they can’t be fixed if you select a more comprehensive plan. You don’t need to have a warranty plan every single time, but it’ll grant you peace of mind and minimize the fear of owning your own home.
- Comprehensive Coverage
Another reason why you need a home warranty is that they have comprehensive coverage plans. However, you need to be careful when selecting a comprehensive coverage plan because they do not cover all items. That means you need to have an emergency fund to do maintenance for items not covered.
Most comprehensive warranties only protect major home systems and appliances. That’s still important because their maintenance is expensive than the little things that the warranty doesn’t cover. Fortunately, a manufacturer’s warranty can cover new electrical items that you’ve bought, while an insurance cover can protect the other appliances, especially if an accident occurs. Therefore, if you have a home warranty, insurance, manufacturer’s warranty, and an emergency fund, you can sleep peacefully, unafraid of anything that may occur because you know you’re well protected.
- Short Waiting Period
Every homeowner feels safe to know that a warranty starts to work immediately or a few weeks after purchase. And that’s what a home warranty gives you. After you’ve carefully searched for a suitable home warranty company and signed a contract with them, your warranty will become effective after about 15 to 30 days. That means that if your HVAC system breaks down and you obtained a cover for it, you can request repair service, and your home warranty company will send its technicians to come and fix it.
Additionally, some companies don’t need you to do a prior inspection before signing a contract with them. That means that you can get coverage for your systems and appliances even if they’re older.
- Affordable Coverage
If your plumbing HVAC system, appliances, or electrical systems develop a problem, you’ll have to pay a technician a service fee to come to your house and do the repairs. Additionally, you’ll pay the replacement or repair costs out of your pocket. Unfortunately, some people opt for such an arrangement because they think that a comprehensive home warranty coverage is expensive. However, this coverage may be affordable than you think.
Most yearly premiums are between $300-$500 exclusive of the $100 service request fee. That means that if your fridge mortar costs $1200 to repair when it breaks down, you only need to pay a $100 service request fee to have it fixed if you have a home warranty. That way, you’ll save $1100. And if you use the home warranty premium frequently, you’ll end up saving thousands of dollars.
- Saves Energy And Time
Some homeowners are advantaged because they can do repairs on their own. And so if their appliances and system break, they don’t contact the technicians in the locality. Indeed, this can save you money. But what if you don’t have time to do the repairs?
A home warranty can save you energy and time. The advantage of using this warranty is that the company handles the hard work as you attend to other important businesses. Additionally, most companies used licensed technicians within your locality to expedite the process quickly.
And what’s more, you can submit your service call request online or through a call. Once you do that, the technician will contact you and set an appointment with you to assess your broken appliance. Home warranty companies streamline everything for you and work at your convenience, saving you the time spent reading online customer reviews or stressing about finding a reputable contractor.
Do You Need A Home Warranty?
No rule states that all homeowners must buy a warranty. It depends on you and the amount of risk you want to take. If you’ve moved into a newly constructed house with new or recently updated appliances, it would be needless to apply for a home warranty plan because the items are still in good condition.
On the other hand, if you buy an old home with outdated appliances, it would be better to apply for a warranty. That way, you’ll have peace of mind. You can buy a plan immediately after closing on your new home or after your appliances get some wear. Whichever option you choose, ensure you research many insurance companies to find the best policy that fits your budget and needs.
When You Should Buy A Warranty
You should purchase a home warranty immediately you move into your home, especially if the house is a bit old. Some home buyers also prefer sellers, including the warranty in the purchase price. However, it’s not a must to buy a home warranty either before or after immediately you move into your new house. You can buy it anytime you want, whether it’s some weeks after closing or after you’ve lived in the house for some years.
The disadvantage of living in the house for quite a long time is that the warranty may not cover appliances that have already worn out.
How Long Does A Warranty Last?
Warranties vary depending on companies and the premiums that you select. Some warranty policies can offer coverage for up to 10 years for structural defects. Others will offer between 6 months to 2 years coverage on items like HVAC, paint, electrical systems, and plumbing systems.
Most homeowners avoid buying warranty plans because they think that they’re expensive. However, that’s not true because they offer many benefits that you can’t get if you’re paying your home’s maintenance costs. Typical maintenance costs can go up to $15000 per year, while a warranty plan only requires to pay about $500 for the repair or replacement of covered appliances or systems. If you’re wise enough, you’ll see that home warranties are cheaper than DIY and funding maintenance from your pocket.
Leave a Reply