Smart Buyers Get a Home Warranty to help safe guard their budget against expensive system and appliance failures. The warranty can help give peace of mind when buying a home that is not brand new. Even if you are buying a condo or a town home a warranty has benefits. There are many types of home warranties on the market and your real estate agent can give you a list of reputable companies to choose from if you need assistance.
Below is a List of Typical Components of A Home Warranty.
- Usually Cover Appliance Repairs or Replacements. Items usually covered are dishwasher, refrigerator, microwave, oven washer and dryer.
- Usually Cover Plumbing Items. Items like hot water heater, garbage disposal plus plumbing leaks, toilets, drain line stoppages, etc.
- Usually Cover Electrical Items.
- Usually Cover Air conditioning and Heating Items.
- Garage Door Opener
- Additional Coverage Can Be Added. Some example, Pools, Spas, Water Softener, Well pump, Limited Roof Leak, Septic Tank Pumping ,external pipe leak and slab coverage.
- Different Level Of Coverage Available
- Different Deductibles Available. Usual range of deductible is from $75 to $100 trade call fee .
More About Home Warranties.
- Home Warranties Cost typically from $425 per year and up. Average price is around $600.
- On each service call the deductible or trade call fee is paid at time of service.
- Most companies require you to call repair claim into their toll-free number and they send one of their vendors to service your issue.
- Typical wait period is a couple of days except with emergencies usually are quicker.
- Can be paid at closing of home to give immediate coverage starting the day after the closing.
- Some can be purchased after closing of home but there is a waiting period usually once purchased before you can file a claim.
- All warranties have a list of exclusion items and a limit on responsibility. Always read the fine print before purchasing.
- Can renew warranty each year.
- Some companies let you pay in monthly installments after first year.
- Items broken prior to closing may not be covered by warranty.
I have personally seen past customers get repairs and replacements on AC Systems, Dishwashers and more for items that failed or needed repair after closing. The warranty helped them save money. Thousands in some cases. The worst case is when your AC breaks in the middle of the summer and you are told you need a new compressor. That would be several thousand dollars out-of-pocket. These expensive issues are less of a burden when a home owner has a warranty. Warranties aren’t perfect and don’t protect from everything, but they do protect from a lot.
Mention this Blog when you call me to buy and I will give you a *Free 1 Year Home Warranty at the closing of your home!
* Certain restrictions apply. Must be allowed by buyer’s lender. To be paid at closing. Commission paid by seller must be 3% or greater. Warranty Cost not to exceed $600.
Home Warranty Video Coverage of why touse a home warranty.
Scott & Pam Taylor – Taylor Team at Realty Center in Ocoee.