It's a common practice for Americans to review finances and plan for the new year, and homeowners can benefit by considering a home warranty.
Unlike home insurance, which covers unexpected events, a home warranty is a service contract specifically for normal wear and tear on appliances and home systems.
This additional coverage can be important when faced with unexpected and costly repairs or replacements.
A home warranty proves beneficial if the condition and warranty status of appliances and key systems are uncertain.
It protects against the high costs of repairing or replacing things like heating, air conditioning, and plumbing.
For example, if your air conditioning unit fails, the home warranty may cover most of the cost with the service fee being the responsibility of the homeowner.
Realtor and attorney Bruce Allian emphasizes the cost-benefit, noting that even with non-covered modifications, the cost of the warranty is justified compared to the total repair costs.
It's also important to mention that warranty costs vary by market and coverage.
Home warranties facilitate quick and affordable resolution of appliance issues.
Service professionals are usually connected within 24 to 48 hours (about 2 days), and warranties often offer unlimited claims visits with capped coverage amounts.
This convenience provides peace of mind as homeowners can easily submit service requests and rely on contracted technicians,
Those who perform well are incentivized to ensure future business through referrals from satisfied customers in the home warranty program.