Warranties are standard on most products today, such as phones and cars, and can prove extremely beneficial to purchasers in the event something causes damage to the device or object. So why should homes be any different?
A home warranty is a policy homeowners pay for that covers the cost of repairing many of the home’s internal items, like appliances, heat and cooling systems, and plumbing, if ever they break down. Service America offers several such plans.
Many people buy home warranties when they close on a new home, since such protections can provide much-needed peace of mind when moving into a new property. Consider waking up in your new home only to discover standing water from a burst pipe in an appliance. That’s a devastating thought. The following are things to consider when investing in a home service plan or warranty for your home.
What Does It Cover?
Don't mistake a home warranty for homeowners insurance. Homeowners insurance covers your home's structure and belongings in the event of a fire, storm, flood, or other accident. A home warranty covers repair and replacement of systems and appliances due to normal wear and tear. Typically, home service plans cover electrical and plumbing systems, heating and cooling components, washers, dryers and kitchen appliances, including the garbage disposal. Service America customers know that Home Service Plans save money.
What Does It Cost?
While home buyers are often required to get homeowners insurance along with their mortgage, home warranties are optional. Standard coverages begin around $300 and increase up to $600 for more comprehensive plans. For an idea of what a Home Service Plan might cost in your area, use the Service America Quote Tool. Depending on the structure and property, additional items can be covered, such as swimming pools. Many companies offer warranty plans, but home buyers typically achieve the best savings when purchasing a warranty as part of a new home.
What are the Benefits?
Home service plans offer peace of mind to homeowners, so that when problems arise, they don’t have to spend unplanned dollars on repairs. Warranties aren’t necessary with new homes, since most of the appliances are already covered under manufacturers' warranties, but as with any big purchase, you’re better safe than sorry.
Who Do I Call?
If you experience an unintentional appliance malfunction, electrical or plumbing issue, contact the company from which you purchased your home service plan - such as Service America - for immediate assistance and remediation. Keep in mind that some companies charge for service calls, which is not part of the home warranty or plan’s coverage. Keep your provider’s contact information in an accessible spot in your home, where everyone can find it in an emergency.