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