Buying a new home requires a lot of planning and preparation. As a first-time homebuyer, you should never purchase a home on a whim to avoid making expensive mistakes. There are many ongoing costs associated with homeownership, including property taxes, homeowners insurance, and appliance repair and replacement costs.
Unlike homeowners insurance, the best home warranty plan primarily protects against expensive, unforeseen repairs on major home systems such as HVAC, furnace, plumbing, and electric systems. A home warranty can also cover a major appliance like a dishwasher, kitchen refrigerator, washer and dryer, and pool. In this article, you’ll learn more about what home warranties cover, amongst other things.
A home warranty refers to a residential service contract between a home warranty company and a homeowner. The best home warranty company usually provides cover for the cost of maintaining major household appliances or systems for a set period. The homeowner then agrees to specified monthly premium payments. However, note that home warranties differ from state to state. So, home warranty companies in Texas might offer different plans than companies in Florida.
Also, most home warranty companies work with different contractors. When a homeowner notifies the home warranty company of a claim, the company checks to see if the damaged appliance or system is covered in the policy contract. If approved, the home warranty contacts an independent contractor to repair or replace the appliance or system. There’s a clear difference between a home warranty and a homeowners insurance policy. In contrast, homeowners insurance protects the home and personal belongings against damage or theft. Essentially, it covers damage done to a home’s interior and exterior.
Take, for example, that homeowners insurance covers the replacement of broken or faulty windows. Selecting a high deductible invariably means that you’ll be responsible for repairing or replacing your broken windows. Suppose you’re looking to buy new windows for your home in Grand Haven or East Grand Rapids. In that case, you might want to Google “window replacement Grand Haven MI” to find reputable companies that provide quality window replacement services. Endeavor to find an installer with a solid reputation for quality window installation services in the industry. Remember that a replacement window is a critical home improvement project. It’s one of several home upgrades that add to the style, value, and energy efficiency of a home. So, it’s best to use a qualified contractor.
Specifically, a home warranty covers the repair, replacement, or service of major household systems and home appliances listed in the service contract. Given the many coverage options available in the market, finding the right plan for you can be overwhelming. Furthermore, home warranties vary depending on the plan type. As a rule, opt for comprehensive coverage that’s appropriate for your needs.
Are you looking for a home warranty service provider for your new home? We recommend choosing a home warranty provider with years of industry experience. Some of the best providers in the market include America’s First Choice Home Club (AFC), Cinch Home Services, American Home Shield, First American Home Warranty, and OneGuard Home Warranty.If you plan to buy a home in Texas or Florida, it’s essential to know that these states are famous for extreme weather conditions. What’s more, staying in a region with high humidity can cause havoc on your HVAC system. The good news is that companies like AFC can help homeowners cover the cost of repair or replacement of home appliances. Their warranty plans give every resident greater peace of mind. What’s more, it also covers systems that fail or break down during the home warranty coverage period. AFC’s air conditioner coverage is also a top pick.
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