Home Warranty Tips
Home Warranties are a great choice for any new home Home warranties allow you to know that if there is some defect in your home, that it will be repaired at their cost and not at yours.
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This is crucial because if you’ve just bought a new home, you’ve already spent a huge amount of money. You don’t want sudden unexpected repairs to come in and cost you a lot of money too!
There are two kinds of home warranties. The first kind of the manufacturer warranty. A lot of states and Canadian provinces require any builder of a new home to include a home warranty for their product. The length of time things are covered will vary not on the company, but usually on what it is covering. Structural components like the walls and roof have longer warranties than things with moving parts like a central air conditioning unit.
A manufacturer's home warranty will cover any parts that need to be replaced and the cost of those parts. Typically this will include almost every aspect of the home. Structurally it will include the foundation, walls and interior design as well as the roof. Finish work like trim and paint are covered for the shortest length of time (often only a single year). This is likely due to the fact it’s the most likely to be damaged through normal wear and tear. Additionally basic utility items are also under warranty. This means your heating, air conditioning, plumbing and electrical wiring are all covered under the warranty. Overall a manufacturer’s home warranty will cover almost everything.
However they don’t cover everything. As mentioned, they cover the parts that need to be replaced. What they don’t cover is any labor costs for repair people. This can be quite an oversight and is often more than the actual parts. This is where the private warranty becomes so useful.
Finally homeowner’s insurance is also a factor. It will cover damage to other things caused by an incident. For example if your plumbing is faulty and it causes a flood in the basement, homeowner’s insurance will cover items that were damaged in the incident, but not the repairs in any way.
Maintenance for your home is key. Your warranty is there to protect you, but gross misuse means that sometimes the warranty can be voided. A good plan is to make a list of all potential maintenance and determine if it needs to be done monthly, quarterly, every six months or yearly. After that, some basic spreadsheeting can help you set up a plan so that you’re doing maintenance on an easy schedule without having to do too much at any single time.
There are many reputable companies that offer home warranties. Look for companies with experience and a national reach. This shows they understand warranty laws in various states and are capable of altering their warranty to always comply.
Some of the most reputable companies include Complete Protection, Total Protection, Sears Home Warranty, American Home Shield and The Home Service Club. These are only a few of the companies that can offer you the warranties that will help you feel comfortable in your house. Look into your region and see which companies are operating there for your benefit.
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