Homeownership is a dream come true for most of us. However, the expenses of owning a home don’t stop with monthly mortgage payments. You need to take care of costs related to home maintenance, repairs, upgradation, and utility bills to name a few.
Having a home warranty plan ensures you don’t have to pay for expensive appliance replacements and repairs in case of a malfunction or breakdown. Read on as we explore the reasons a home warranty will aid you in better managing your household and finances.
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Convenient Service
When you have a home warranty, all you have to do is call the home warranty services in case an appliance malfunctions. They will schedule a visit by their technician to look into the matter and make the necessary repairs.
Although these services are claimed to be provided round the clock, you might have to wait for some time before a technician arrives.
Normally, it takes at least 3 working days for the home warranty service technicians to arrive and carry out the necessary repairs. However, in case of an emergency like a power outage, the service personnel will be sent within a few hours.Â
Budget Protection
Having a home warranty in place ensures you stay within your budget. A home warranty can cover expensive appliance repairs and replacements.
Your home warranty will provide services for a majority of appliances like HVAC systems, electrical failures, plumbing issues, and the repair or replacement of several household appliances.Â
You don’t know when an appliance can break down, resulting in repairs that can range from a few hundred to thousands of dollars. Fortunately, home warranties fit within the budget and won’t cost much.
Better Time Management
Most home system and appliance breakdowns occur at the worst time possible, making you look anxiously for repair services and contractors. With a home warranty in place, you only need to inform them about the malfunction, and you’re all set.
This saves your valuable time and the hassle of finding a reliable contractor. However, some home appliances might not be covered in the home warranty services. You can contact the relevant personnel to know whether the household appliance is covered or not.Â
Providing Complete Protection
Most homeowners get a home warranty alongside home insurance to provide complete protection.
While home insurance provides coverage for the building’s structural damage in case of theft, vandalism, a natural disaster, or a household fire, a home warranty will provide you with repair and replacement services for household appliances and systems that homeowners insurance does not cover. This added protection provides the ultimate peace of mind a property owner seeks for.Â
Cost-Friendly Option
While it might be difficult to dish out a few hundred dollars now and then for appliance repairs, paying for a home warranty is not. Home warranties are a cost-effective option that can save you from paying for costly repairs that can disturb the budget.
As there are several types of home warranty services available, never forget to review the cost of a home warranty and the available services, so you know the extent of the coverage you will be getting. Another thing to remember is always to compare the costs of different home warranty providers so it becomes easier to choose the best possible options.Â
When you secure a home warranty plan, you will either pay the service charges upfront or every month. Furthermore, when you request repair services, you will have to pay a one-time service fee to initiate the process. Fortunately, most home warranty services follow a policy of complete transparency, writing down every single detail in the contract.
Exclusive Perks
Several home warranty providers offer exclusive perks and discounts to their customers. A home warranty service will offer exclusive discounts for services they are providing that are not covered in the home warranty service.
For example, if you want to install a smart home TV, you might get an exclusive discount from the home warranty service. There are even referral programs run by home warranty companies that offer incentives when you recruit other people to get the home warranty. Exclusive discounts and perks may seem intimidating, but remember that these discounts should never influence your decision.
When it comes to choosing a reliable home warranty service, you always need to ensure the quality of services provided by the home warranty. Furthermore, read reviews and testimonials, and check their reputation in the industry so you know you’re dealing with a trustworthy company.
Providing Value
Before renting out a property, securing a home warranty increases the value as tenants see the insurance as a perk. Doing this sends a clear message to the tenants that the owner genuinely cares about facilitating the tenants and takes good care of the property and the installed appliances. Providing valuable services like these to the tenants fosters a sense of trust that is crucial when renting out a property.
Buying and Selling Properties
Whether you are buying or selling a property, having home insurance in place will save you a lot of money that would be spent on repairs. Interested buyers might have concerns about the condition of appliances and home systems that can be resolved if you have a reliable home warranty in place. These home warranty policies can be easily transferred to the new owner in case you sell the property.Â
Likewise, when buying a home, there are a lot of costs involved when moving to the new home. You can review the home inspection report to evaluate the condition of the appliances you will be inheriting with your new home. If the condition is poor and you are anticipating repairs to come up after you move in, a home warranty will not only save you money but also provide you peace of mind.
Whether you want financial protection or want to ensure guaranteed repairs, choosing a home warranty is the right option. Lastly, remember to never miss out on the monthly payment of the home warranty services. Keep the payment on top of your priority list, as failing to pay on time can void the contract.
