There’s quite a buzz about home warranties and the perks involved. It is certainly an expensive proposition. Shelling out a few hundred dollars every year does sound like an expense you would like to introspect. So, are you in a dilemma, wondering if a home warranty is any good?
Well, home protection plans might sound like an investment. The primary purpose of these plans is to safeguard your funds. Before you read any further, stop and think. Is it worth paying thousands of dollars to get the electrical in your property restored, soon after you have invested heaps of money in the house? If you too think that it could pinch your pocket pretty hard, opting for a home warranty is a smart decision.
While you are also considering ways to safeguard your investment in the property, don’t fall for online and television ads, pitching a world of wonders provided by home warranties. Before you jump to a conclusion, ask yourself a few crucial questions.
Five questions about a home protection plan
1. Do I have coverage and protection on any of the appliances?
If you have recently purchased a fresh set of appliances for your new home, there is good news. Home appliances often come with a warranty that is valid for up to 6 months or a year. There could be a possible coverage on the appliances. You can also look for ways to extend the warranty on those appliances. Not being aware of such warranties could be a bummer. There’s no point investing in home protection coverage on appliances that are already shielded with a solid warranty. By leaving out a few items off the protection plan, you can save a great deal of money.
2. Do I have a clear picture of what’s included and what’s not included in the warranty cover?
Being oblivious to the terms and conditions of a home warranty will do you no good. It is always recommended to go through the contracts and documents with a fine-tooth comb. In this way, you can be crystal clear about things that are included in a home protection warranty plan you have chosen and also about the things that are left out. Requesting for a claim is a lot easier and hassle-free when you know what your home warranty covers.
3. Do home protection plans repair broken items?
The objective of providing customers with a home warranty is to help them stay clear from footing expensive bills of repair when a mechanical system breaks down or appliance malfunctions. No company offers coverage on items that are already faulty. Sometimes, small negotiations here and there can win you an advantage. However, home protection plans do not cover broken items. If an appliance stops working after the contract is active, the provider shall provide necessary services of repair without charging a cent extra.
4. Will the plan fit my budget?
You may have exhausted most of your funds in purchasing your dream home. Spending a grand on a home warranty soon after might seem burdening. Don’t worry and do not ditch the idea of buying a home protection plan. It will save you big bucks if any mishaps occur. Study and research about home warranty companies and the plans they offer. Diverse types of protection plans are up for grabs in different budgets. You can secure your home by choosing an affordable home protection plan or go all out and opt for a comprehensive home warranty.
5. Will the home warranty pay for any damage?
No, it will not! A home warranty has limitations too. For instance, a home protection plan will not cover the roof or door of your property. The warranty will not pay for the restoration of damages that are pre-existing. Again, read the contract carefully before you make your decision.