| Homebuyers are a curious lot. They routinely ask | | | | And let's view this same scenario from the opposite |
| thought-provoking questions. A common question is, | | | | direction. Would we expect that our life insurance |
| "If I get a home inspection, should I still get a home | | | | carrier would recommend to us that we forego the |
| warranty?" Then there's always this question, "If I | | | | expense of regular physical exams, because, after all, |
| get a home warranty, do I still need a home | | | | we now have life insurance! Insanity! |
| inspection?" | | | | The life insurance companies, in fact, feel so strongly |
| The choice between having a home inspection and | | | | that a physical exam is such an important part of risk |
| purchasing a home warranty is a question that I | | | | reduction that a physical exam is often required to |
| frankly do not understand. Each is intended to serve | | | | secure a life insurance policy, or at least has an |
| a separate purpose and ideally work together to | | | | effect on the insurance rate. |
| protect and reduce the risk of homeownership. | | | | If insurance companies want to have you "inspected" |
| Maybe an analogy will make the matter clear. An | | | | prior to assuming the risk of your passing, it certainly |
| individual has just had a complete and through | | | | makes sense for the homebuyer to have the home |
| physical exam. The results of the exam and all | | | | inspected prior to purchase. Doesn't it, therefore, |
| associated lab tests are that the individual appears to | | | | make similar sense to warrant unforeseen failure with |
| free of all disease or illness. They are presently the | | | | the home warranty? |
| picture of health! | | | | When buyers fully understand risk and the |
| Would it be prudent or responsible for the doctor | | | | cost-effectiveness of risk reduction tools, they |
| then to recommend to the patient, due to their fine | | | | almost always want all of the risk reduction tools |
| physical condition, that it is a waste of money to | | | | available. It is in everyone's best interest to reduce |
| continue to pay for health insurance? Of course not! | | | | risk by every cost effective means possible. Buyers |
| None among us would consider the doctor even | | | | love to be educated about understanding and |
| sane, let alone responsible to make such a | | | | reducing risk, and everyone loves a happy |
| recommendation. But, is that not the same situation | | | | homebuyer! |
| to someone feeling that they need not purchase a | | | | Copyright © Florida HomePro, Inc. and Wallace |
| home warranty because they just had a home | | | | J. Conway. All rights in all media reserved. |
| inspection? | | | | |