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The Top Five Things to Look for Within a Home Warranty

A home warranty is a policy that covers theis money, and time and convenience are part
homeowner for items that are not coveredof  the  benefit  of  a  homeowner  warranty.
under a typical homeowner's insurance policy.
Some of the items that may be covered under aIn addition to the ability to reach a
home warranty are heating and airrepresentative, confirm that there are repair
conditioning, roofing leaks, electrical andpeople in the area. While this may be
plumbing problems. Some home warranties alsounderstood, many rural areas are not covered
cover repairs on major appliances, such asby all types of repairmen that are included
the  washer,  hot water tank or refrigerator.in the contract, or they may be far enough
away that getting someone to your home
Home warranties are paid for with an annualquickly  can  prove  difficult.
premium, then, when you file a claim, you
will pay a predetermined service charge. This- What limits are included with the policy.
will cover the cost of the repair. ManyIt is important that you read your policy
people like home warranties because they knowcarefully. What sounds like a good deal when
that they will not have unexpected repairyou sign can quickly become not much of a
expenses, and it makes it easier to prepare adeal if your policy excludes parts of the
budget.home from coverage. Also, ask what may cause
a claim to be denied. Some common reasons
Not all home warranties are created equally.that a claim may be denied are improper
When shopping for home warranty coveragemaintenance, excessive wear or improper
there are five things that you shouldinstallation. Some home warranty companies
consider  before  choosing  a  company.also depreciate the value of your home's
contents, which means that they will pay less
- The experience of the warranty company. Aas the odds of needing a repair increase.
home warranty company will not stay inWhile you may have to settle for some limits
business long if their service is poor, theirand exclusions, it is important that they are
prices too high or they do not deliver onspelled  out  up  front.
their promises. When choosing a home warranty
company, pick one that has been in business- The cost, both annually and for the service
more than a few years. New companies may trycharge. There are two types of payment for
to lure customers in with low prices, but thehome warranty service. The first is an annual
savings will not be worthwhile if the companypremium, which may be paid annually,
is not in business when you are ready to makequarterly or monthly. This is similar to an
a  plain.insurance policy and must be paid in order to
retain coverage. In addition to the annual
- Whether the warranty is transferable. Thepremium, you will be responsible for a
home warranty should go with the house.nominal charge for each service call that you
Studies have shown that homes that havemake. The cost of the service call is
homeowner warranties sell more quickly thannormally between 30 and 100 dollars. This is
the equivalent home without a warranty. Whenall  that  you  will  owe  for  repairs.
choosing a company, ask if the warranty will
transfer should you sell your home in theHome warranties are a good way to save money
future.on what can be costly home repairs. To get
the most value for your money, you need to
- What type of coverage is provided? When youresearch several home warranty companies,
call the number provided by the warrantyassess the customer service and make sure
company, you should reach a live person, 24that there is adequate coverage in your area.
hours a day, 7 days a week. In addition, theyBefore you commit to a particular home
should be ready to schedule your repair visitwarranty company, read the contract
right away. If you have to leave messages andthoroughly and, if possible, speak with some
wait for call backs, and then wait days, orcustomers to see how easily their claims were
weeks, for a service call, all you are savinghandled.



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