Now that you’ve signed the mortgage and moved into your new home, you may be thinking it’s time to kick back and enjoy it.
Not so fast.
Have you got a plan for covering the bill when the garage door sticks halfway down just as you’re leaving for work? When the ice maker leaks? When the oven stops cold while you’re baking your 4-year-old’s birthday cake?
There’s no calling the landlord now. It’s all on you.
As America's 1st Choice Home Club says, “Life happens. Be prepared.”
Different from home insurance
It’s easy to confuse home warranties with home insurance. They sound sort of alike.
But they’re not.
Home insurance protects your structure and some of your possessions after a disaster — fire, storms and hail, for example. But home insurance may not help pay to fix or replace your broken garage door or the stopped-dead oven.
That’s when you’ll want a home warranty. A warranty helps repair or replace a home’s systems and appliances that have broken from normal wear and tear.
You’ve got choices
Some plans cover more, others less. Reliable Home Warranty, for example, has three levels of coverage — one for basics (including plumbing, electrical, water heater, oven and dishwasher — oh, and that garage door) and an upgraded plan that covers more: things like laundry appliances, built-in microwaves, and cooling and heating systems. Yet another plan lets you add coverage for pools, spas, roof leaks and septic systems.
“Regardless of the age, make, or model, if we can’t repair it, we’ll replace it,” Reliable Home Warranty says.
At America's 1st Choice Home Club, you can choose among plans that cover six, nine, 15 or 18 appliances and systems. There’s additional coverage you can buy for home systems, including heating, air conditioning, plumbing and electrical. Check out America's 1st Choice Home Club; they’ll give you a quote in 30 seconds.
As always, when signing a contract, read all the details, including the fine print.
Do you need a home warranty?
Okay, warranties are a good thing. But do you need one? Well, ask yourself what you will do if:
- Your furnace quits in mid-December
- The washer grinds to a halt halfway through a load
- Your water heater springs a leak while you’re out of town
Can you afford to put life on hold while you search for a repair person? And raid savings to cover surprise repair bills? If so, a warranty’s not for you.
But for many of us, it’s a good idea.
With a home warranty, you can sleep at night knowing that when you call your warranty company, they’ll step in to help.
Warranties sell homes
Thinking of selling your home? Make your listing stand out when you offer a home warranty with the purchase. That added perk gives buyers peace of mind when they make an offer on your home.
Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.