Your home is likely the most significant investment you’ll make. After spending all that time, effort, and money into finding the perfect home for you and your family, the last thing you want is to have to deal with issues that can significantly cost you down the line. That’s where a home warranty comes in – the ultimate protection for your investment. If you want to learn more about home warranties and how to shop for one, keep reading for some advice below.

What Exactly Is a Home Warranty?

A home warranty is a service contract that covers the repair or replacement of major home appliances and systems, such as air conditioning, electrical, and plumbing systems. Homeowners pay an annual or monthly fee for the warranty, which typically lasts one year and can be renewed. Homeowners can benefit from having a home warranty, as it can help save money on expensive repairs or replacements. Home warranties usually cover the cost of parts and labor, so you wouldn’t have to pay anything out of pocket if something went wrong! Another benefit of home warranties is that they offer peace of mind. If something breaks, you can call the home warranty company and arrange for a technician to fix it. This is especially helpful if you’re unfamiliar with home repairs or don’t have the time to do them yourself.

Know What’s Covered

When you’re looking for the best home warranty company, the first thing you need to do is find out what’s included in the coverage. Most home warranty companies offer coverage for major systems like air conditioning, heating, electrical, and plumbing, as well as standard appliances like refrigerators, dishwashers, and clothes washers and dryers. Some companies also offer coverage for pools, spas, and other recreational equipment. Whatever it is you’re looking for, read the fine print of the home warranty contract to find out exactly what’s covered and what’s not, so you have ultimate clarity on your agreement.

Compare Coverage and Cost

Once you know what you need coverage for, you can start shopping around and comparing home warranty companies. When you’re comparing plans, be sure to look at the coverage levels and the costs. Most home warranty companies charge a monthly or annual fee plus a service call fee every time you need to use the warranty. Some companies also offer different levels of coverage, so you can choose the one that fits your needs and budget.

Read the Reviews

Before you decide on a coverage plan and company, you need to do your research. Check out websites like Consumer Reports to see what other customers have to say about the company’s customer service, claims process, and overall satisfaction. This can be super helpful in understanding the policy from a user’s perspective. You can also ask your friends, family, neighbors or REALTOR Candis for recommendations they might have.

Get Everything in Writing

Once you’ve chosen a home warranty company, get everything in writing. Read the contract carefully and understand the coverage, exclusions, and terms and conditions. If you need additional help, check out this guide by Sterling Miller on navigating and deciphering legal contracts. Be sure to keep a copy of the agreement in a safe place so you can refer to it when you need to use the warranty. In addition, it will be prudent to keep good records. Keep track of all correspondence with your home warranty company, including phone calls, emails, and letters. This will come in handy if you ever need to file a claim.

Investing in a home warranty will be critical for every homeowner. Not only will it save you thousands of dollars if any issue arises, but you will also benefit from the peace of mind of knowing that your investment is in safe hands.

If you need help buying or selling a home, reach out to Realtor Candis Carmichael. Click here to schedule an appointment today!

Article provided by Jason Kenner of OnParParent.com