Is Buying A Home Warranty Plan Better Than Having No Warranty?

When you own a home, it is important to administer proper maintenance and care to ensure longer lasting appliances and home systems. The cost of repair and replacement can be hundreds, even thousands of dollars. One way to ensure that your systems and appliances are taken care of is to buy a home warranty plan that covers items that are not covered by manufacturer’s warranty or home insurance. But, is a home warranty plan better than having no plan at all?

What is a home warranty?

Home insurance typically applies when a natural disaster strikes your house and only covers for events that are out of your control like freezes, tornadoes, hurricanes, fires, floods, and theft.A home warranty is a policy that protects your home's major appliances and systems as they age and breakdown due to normal wear and tear. Depending on the plan that you choose, you can protect your major home systems, such as air conditioning, heating, and plumbing, and more. You may also protect your major appliances, such as your refrigerator, stove, oven, washer, dryer, water heater, and more. Depending on your home, you can add optional coverages for your spa, pool, and water and sewer lines. 

Financial benefits that come with home warranty coverage

If you do not have coverage for such items as the air conditioning unit, repairs or replacement can cost up to $4000.00, and the cost of repair or replacement of a refrigerator can be up to $1500.00. Reputable home warranty provider plans offer a range of home warranty plans with coverages to fit your needs. Home warranty pricing and plans vary to meet every homeowners budget. Plans can include: appliance and system bundle package, extended warranties, warranty for a single item, special bundles such as a kitchen warranty plan, and more. Premiums can be paid monthly and vary by amount of coverage  You are covered in the event of major system and appliance failures for a fraction of the average repair cost. 

Home warranty coverage can include, but is not limited to: Interior Electrical System, Water Heater, Range/Oven/Cooktop, Kitchen Exhaust Fan, Refrigerator, Dishwasher, Built-In Microwave, and Garbage Disposal. It can also include: Central Air Conditioning, Central Home Heating, Plumbing System, Ductwork and more. As well, you have access to the warranty provider’s pre-vetted, trusted network of qualified contractors so you don't have to search for one. 

Peace of mind is a major benefit of acquiring a home warranty. If something breaks, you know that it is fast and easy to get a service technician professional. It can also be beneficial to new homeowners and first-timers who may not be as familiar with how their new home's systems work. In addition,  a home warranty plan is good for people who need to budget carefully. With a good home warranty, you will know the home warranty pricing and plans and the  deductible is for any repairs that are covered under the warranty. A home warranty plan really is guaranteed peace of mind.