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Home warranty is a homeowner’s protection against the cost of fixing damages brought by the normal wear and tear process. Basic coverage includes HVAC systems, electrical, plumbing systems, gas range, oven and other stuff. Basic coverage varies depending on your service provider. As to who pay for it, it all depends on the agreement of the seller and the buyer. Some states have their own ruling as to who should pay for the service. Nevertheless, this can be negotiable.

Here is how it works. If some of the things mentioned above will break down for a particular reason, you can just call your service provider and they will fix the problem for you. However, there may be instances when your request will be denied. This can happen if the item that broke down is not covered under your basic coverage, there was evidence of negligence, code violations and out of the ordinary wearing down of the appliance.

Nevertheless, the benefits of having a home warranty can be tremendous. Here are some of the benefits:

If selling/rental homes- In this situation, having a warranty can be one of your selling points. More buyers will be drawn to purchase your homes because the risk involved in buying your home is lessened. On the other hand, renters can also be demanding as to repairs because they know you are obliged to maintain the property in a livable condition. Therefore, when this happens, you can just call the service company and qualify the problems. At least you will have a professional's opinion on what the cause of damage is. This will also give you a better way on how to handle the problem and inform your tenants if the kind of repair to be made will be covered or not. Otherwise, you can inform them that the expenses will be deducted towards their earnest money.

If buying homes- Purchasing a house with home warranty will give you piece of mind. Knowing that some appliances in resell properties are not really new, it will be prone to breakdown in a few years time. Any unseen damages brought by the normal wear and tear process will be less of a problem. In case, these things will be uncovered, you do not have to shell out money just to have them fixed.

Getting one for yourself- This saves you the hassle of shelling out money for expected repairs. However, not everyone should get a home warranty. Some experts suggest that smartest time to get a home warranty is if your house is way too old and if you have already spent a hundreds or even thousands of money for maintenance alone. Moreover, it may also be smart purchase it if you forecast problems financially. A warranty helps you take care of any repairs needed for major systems at home during this times. This way, you do not have to spend money for costly repairs.

A home warranty may be an additional expense. That is why one needs to evaluate properly whether or not to purchase it. Nevertheless, it is an insurance. It will always be there to protect you from costly repairs.

By: Katrina

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