A home warranty provides protection for systems and appliances installed in a property and offers homeowners discounts on repairs and replacements. A warranty is not the same as a homeowner’s insurance policy that pays for repairs or replaces the home if it is a total loss. Homeowners will pay an annual premium for the home warranty based on what is included. Home warranty companies provide information and estimates for the premiums and discuss ways to protect the owner’s assets. Here are details about what home warranties are and what they cover.
Major Systems in the Home
Home warranties cover all major systems in the home. This includes the electrical system, ductwork, heating, interior plumbing, and the water heater. If any of these systems require repairs or replacement, the property owner can get coverage to pay a portion of these costs. A home warranty provides the homeowner with preapproved service providers who perform plumbing, heating, cooling, and electrical services. Talk to a home warranty company if you want to know more about the things covered by your warranty.
Appliances Protected by the Warranty
Among the appliances in the home that are covered in the property are the HVAC system, dishwasher, garage door opener, garbage disposal, pool equipment, oven, stove, refrigerator, and spa equipment connected to the plumbing system.
How Does the Warranty Provide Help?
If homeowners needs services, they contact the home warranty company, and the warranty company contacts a service provider that completes the services the customer needs. Expenses are calculated according to the percentage paid through the home warranty, and the warranty company gives the client an estimate for the services. The appointment is set up for the homeowner, and all they have to do is pay their portion of the costs.
Can You Transfer the Home Warranty?
Yes, the property owner can either transfer their home warranty to a new property after they buy a new home or transfer the home warranty to the person that buys the customer’s home. When transferring to a new property, the customer updates the home warranty information and decides what systems and appliances should be included in their coverage.
The home warranty company manages all the documentation for transferring the home warranty to a new property or to a new property owner. All details about the annual premiums are disclosed before the property closing, and all parties can make decisions about the coverage. The buyer who purchases the home isn’t required to keep the home warranty, but they can use the coverage for the term the previous owner paid for.
Can You Change the Terms of the Home Warranty?
Yes, home warranty companies make it easy to make changes to the coverage, and the property owner can add or remove systems or appliances from the home warranty as they wish. Home warranty companies offer an estimate for all changes to keep the owner updated about the costs. These efforts help them customize their home warranty to keep the coverage affordable.
Home warranties cover vital systems and appliances in the home, and home warranty companies offer discounts for repair or replacement services. Homeowners purchase the home warranty for the coverage and pay an annual premium based on what is added to the coverage. Speak to a home warranty company about setting up a warranty for your home.
