4 reasons to get a home warranty now

A good home warranty should offer an extra layer of protection to help cover service, repair and help with replacement costs for a home's systems and appliances.

A home warranty is different from home insurance or existing warranties that already come with products like large appliances. It's extra coverage that, if crafted well, can help you steer through unexpected repair or replacement needs in your new home.

If you decide home warranty coverage is right for you, be sure to shop around for the best terms and conditions for your specific coverage needs. Get started now.

Important reasons to get a home warranty

Here are four reasons to consider buying a home warranty and help you determine if you'd benefit:

It may save you money. If you're unsure of the true condition - or warranty status - of major parts of your home, having a warranty could ultimately save you money - if the contract is well written. This can be true for systems like plumbing and older appliances.Unlimited repair calls. Some warranties feature unlimited repair calls. For example, if a defective part in even a new HVAC system needs replacing, multiple repair calls may be needed. Check to be sure there aren't additional fees for each visit by repair professionals under your home warranty. You have an older home. If a home isn't newly built, it can be difficult to know if appliances and other major systems are still under warranty. For older homes, warranties for appliances or systems have often expired  In these cases, a home warranty could be worth considering.It may save you time. Knowing you can call one central place for major repairs or issues can help you save the time of hunting for just the right professional to take care of your repair or issue. If you have a warranty, you call the warranty provider, who then sends a contractor to take care of the issue covered by your contract.

Pay special attention to maintenance clauses - like changing a filter -  that can void coverage if not followed. Once you call your company to send a contractor to look at your problem, be prepared to pay a service fee or deductible A basic home warranty plan can cost anywhere between $350 and $700 annually before fees or deductibles and depending on the contract, according to the website homewarrantyreviews.com. You can also sign up for monthly plans, depending on the provider.

Be sure to do the math and see if a home warranty is right for your situation. Do your research and compare multiple offers before committing to a certain company. Start your search now.

Things don't just break down during regular business hours, so make sure your provider would be more readily available for certain repairs and replacements. It's also a good idea to make sure your coverage limits meet the value of your replacement needs. If you have a $2,500 refrigerator, you'll want coverage that meets or exceeds that, for example.

How to get the most out of a home warranty

A well-written home warranty from a highly-rated warranty company can help cut costs for repairs or replacing pricey home essentials such as heating, ventilation and air conditioning (HVAC) system or large appliances such as a refrigerator if they break during the contract period, which is generally about a year.

If you're looking to avoid the burden of big-ticket repairs, look into available home warranties offerings.

It's especially important to know precisely what your home warranty covers - and what conditions might void the terms of coverage. For instance, a home warranty may cover most materials and parts for heating and air conditioning systems, but it can vary widely depending on the system and parts. It's a good idea to collect all of the warranties, maintenance records and any other documentation for your home's systems in one place when evaluating whether a home warranty makes sense for you. Items like appliances and HVAC systems have limited lifespans.

Some states require home warranty companies - also known as home servicing companies – to be licensed.

Don't expect a home warranty to cover everything. Generally, structural issues or nonmechanical items, like a crack in the foundation, electrical systems or appliances that are already broken aren't covered.

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