Do you need a home warranty? Is it worth investing in a good home protection plan? Simply put, the answer is ‘Yes.’ But, it is also crucial to reckon if the home warranty will be of any value to your asset.
A home is not a structure of bricks and mortar only. You can only hang your hats in a house once the furnishings are in and the bare minimum home systems are in place. Can you call a washroom functional if there is no plumbing system? Will the HVAC work if the electrical is messed up? In a nutshell, home warranties come of aid when appliances and mechanical systems are set up in a house.
There’s no doubt that a home is one of the mammoth investments in your life. It is never harmful to seek extra precautions and ensure that your investment is safe and well shielded. Deciding upon a home warranty plan is the right thing to do. However, you must get your facts right and learn about the ins and outs of a home protection plan.
Describe a home warranty
Are you of the idea that a home protection plan is similar to home insurance? Not true and the difference is quite evident. Similar to an insurance plan, a home warranty is a yearly service contract. It offers coverage on home systems and appliances.
Let’s come straight to the point. How does a home protection plan keep your money safe? Regular kitchen appliances, heating systems, electrical and pretty much any mechanical system functioning in your property can be broken or ruined without a sign of warning. Repairing these home systems and appliances can cost you an exorbitant sum of money. This is where a home protection plan steps in and saves you from busting your budget.
The one-time service fee you pay while drawing up the contract entitles you to avail free services of repair and replacement of faulty products and systems in your home. It is a huge relief since footing these expensive bills can take a toll on your finances. Particularly, after you have just bought a property. The list of perks does not end here.
Have you dreaded but managed to put a hold on the maintenance and security checks of your appliances? Paying for periodic maintenance is a rich investment too. This is why most comprehensive home protection plans cover the costs of maintenance. You can schedule security checks without worrying about paying out of your pocket.
Are home protection plans worth it?
If amounts like $600 or even a grand scare you, then home protection plans are certainly worth every cent. When you look at the quotes suggested by home warranty companies, the money could spark some doubts. You might question the importance of paying a few hundred dollars extra for a home warranty.
Here’s the bigger picture you must look at. If one of the pivotal home systems breaks down, you will have to shell out thousands of dollars to get the same fixed. Can you choose to turn a blind eye to the fault? Absolutely not! Instead, if you have paid for a home warranty and the system is covered in the protection plan, you will not have to pay a single dollar. Immediate service will be provided by the company and the best of professionals will be of assistance.
Can you skip buying a home warranty?
It is not lawfully binding to purchase a home warranty. As a homeowner, you are responsible for the decisions you make. You can let go of securing your property with a home protection plan for a year or so. Only, if the house is brand new with all new fixtures and appliances. Mechanical systems are less likely to break down and most of the appliances should have a warranty paired.
This is however not recommended because faults in home systems can pop up anytime and restoring them is a costly affair.