What Do You Get from A Home Warranty?

Homeowners review options for protecting their homes and acquiring coverage for their assets.

22:03 08 November 2020

Homeowner's insurance policies pay for property damage and offer funds to replace the property if it is a total loss. However, the policies don't provide immediate coverage for all items inside the home, and the owner could face some limitations. This is why a home warranty is so helpful, and homeowners should consider the benefits of the warranties. With the warranty, the homeowner could get coverage for items inside the home such as appliances, and they won't face high expenses when replacing the items.

 

Help with Repairs for Major Systems in the Home

 

The home warranty provides assistance with repairs for major systems inside the home. These systems include but are not limited to wiring, plumbing, HVAC, and connecting installations. When a system fails to work properly, the homeowner will face excessive costs. If they take on the task without coverage, the homeowner could face hundreds of dollars in repairs that they cannot afford. Homeowners can learn more about the home warranties by getting information from 2-10 HBW right now.

 

What Appliances are Covered?

 

When reviewing a home warranty, the property owner must consider what items are included in the coverage. When it comes to appliances, the products must be installed in the property or considered major appliances. For example, most microwaves are not included in a home warranty, but if the microwave is installed underneath a cabinet or built-in, the property owner could get coverage for the microwave. The standard warranties provide coverage for refrigerators, stoves, ranges, range covers, and dishwashers.

 

Immediate Access to A Customer Service Representative

 

Homeowners won't spend hours on the phone when they need assistance, and the home warranty company has a toll-free number that gives them immediate access to a customer service representative. The property owner will get information by calling the home warranty company, and a service provider offers fast repairs or replacement services. The coverage from the warranty applies to the scheduled services, and the homeowner receives an invoice for their portion of the costs.

 

The Warranties Don't Have Limits for the Age of the Products

 

It doesn't matter how old the appliances or home systems are. The home warranty coverage isn't limited to newer products only. However, the property owner can get help to replace outdated systems that could present a higher-than-average cost. For example, if a system such as the HVAC is older than 10 years, the homeowner may consider replacing it before it stops working or causes an energy efficiency problem. The home warranty is a great choice for managing outdated installations and improving the safety of the home. The coverage makes it easier for the homeowner to eliminate systems that could cause a fire or extensive property damage.

 

How to File a Claim

 

The property owner can file a claim by contacting the home warranty company. The warranty company completes the claim for the property owner, and all the documents are managed for the property owner. The service provider calculates the total cost of the repairs or the replacement product and services. They deduct the amount of the cost that is covered by the home warranty. The property owner doesn't have to pay the fees immediately, and the warranty company will send an invoice for the expenses. The property owner can call the warranty company directly or complete their claim online through the warranty company's website.

 

Cutting the Cost of New Installations

 

New installations require a complete estimate from a service provider or contractor. The estimates are acquired by the warranty company, and the homeowner can review these estimates when determining what option meets their needs. For example, the average cost of a central HVAC system is around $10,000 depending on the model and size of the unit. When the homeowner needs a new HVAC system, they contact the warranty company and get estimates for the services.

 

Instead of paying the full cost of the installation, the homeowner pays a portion of the installation according to the terms of their warranty. This could reduce the total cost significantly and make it more affordable for the property owner to replace their system.

 

Access to Professional Service Providers

 

Professional service providers are accessible through the warranty company. The company screens all contractors, repair services, and installation services for the property owners. The homeowner won't spend hours looking for a service provider or receive inferior services. The warranty company contacts service providers who have been screened and all services are guaranteed.

 

The homeowner won't have to worry about a service provider that isn't licensed or bonded. The warranty company ensures that all service providers have experience in their industry and the service provider won't make serious mistakes that lead to property damage.

 

How is the Cost Calculated?

 

The annual fees for the warranty are based on the property's age and size. Typically, the warranty company will calculate the cost of the home warranty according to these factors, and they will present information about the home warranty when the homeowner signs up for it. Homeowners can pay the fees upfront or pay the fees in installments.

 

The homeowner will pay the fees annually to maintain the home warranty. The warranties often last up to 13 months to give the homeowner a grace period between premium payments. The warranty company provides a free quote for coverage after the homeowner submits a request.

 

Homeowners examine the advantages of buying a home warranty. The products are not the same as a homeowner's insurance policy, and the warranty doesn't apply to the home itself. The products provide coverage for appliances and major systems installed in the property that the homeowner needs every day. The warranties require the homeowner to provide an annual fee to maintain coverage, and they file a claim through their warranty company directly. Homeowners can add new appliances and systems according to the terms of the warranty contract. Reviewing the terms of the warranty shows the homeowner what is covered and what benefits are available.