Things You Need to Know About Home Warranties
One can only imagine how a home would feel with the HVAC not working especially after one has just bought a home. It the same line, one would be very much worried if his or her roof was blown at a time he or she does not expect any expense. Even before discussing much about a home warranty, one would need to have a general overview of what it is and what it entails. It is essential for one to begin by noting that a home warranty is a type of cover that tends to cater for cost of repairs and installations of any broken appliance in the house for 12 months after its renewal. A home warranty is typically a one year agreement and hence allows one enough time to get a financial recovery.
There also tend to be a difference between a home warranty and a homeowner insurance. While insurance tend to be very specific in the items it covers, a homeowner warranty tends to be a bit general. With that in mind, one would need to view a home warranty as complementary to a homeowner insurance and not a substitute.
Most of the items in a home tend to be covered by a home warranty.
While most manufacturers tend to cover the failed part, most of them do not offer labor for the installation or repair of the failed part after one year after purchase. One would also need to note that some manufacturers tend to imply high labor cost on the owner of a given product with the intention of recovering their spare part cost.
In most cases, a home warranty may not need any inspection before one enrolls. One may need to know that any pre-existing conditions in the home appliances may not be covered in the home warranty plan. One would not need to forget that a home warranty is more or less a one year contract.
It would also be essential for one to know what happens in a case where one sells the house in question. One would need to note that the benefits tend to be extended to the new owner in a case where one sells a home. In a case where you are only three months into the home warranty contract and sell your home, you would have the buyer enjoy nine months of the home warranty. One may need to know that it is possible for one to add the remaining difference at closing to provide a full 12 months of coverage.