There are many risks a homeowner can face during the life of their home. Appliances can break down, heating and cooling systems may need to be replaced, even the roof can face serious issues. When these issues happen without warning, it can be impossible for a homeowner to cover the cost out of pocket.
Fortunately, there are options to help with these various issues. Homeowner’s insurance can help with unexpected issues that can occur due to natural events and disasters. A home warranty can provide help for those unexpected, yet expected, breakdowns.
What is a Home Warranty?
A home warranty is basically a service contract. The homeowner establishes this contract with the home warranty company to provide repairs and replacements of covered items at a set price. It is important for homeowners, when buying a home warranty, to ensure all items wishing to be covered are included in the contract.
In general, homeowners can have their home’s systems covered under a basic home warranty. They can also have their primary kitchen appliance covered under the warranty as well. Other appliances, systems, and even roofs can be added to a home warranty to provide full coverage for their home.
System’s Coverage
Every home has a variety of systems that keep the home running. If a problem arises with one of these systems, it can bring the home to a screeching halt. If the problem is severe, it can be quite costly to repair or replace that system in the home. This can often create serious financial hardships for homeowners.
The basic home systems can include the home’s heating and cooling systems, this includes both the furnace and air conditioning units. Home systems also include electrical panels and wiring, plumbing, and the water heater. When these break down, it is important to have coverage to help with the repairs or replacement.
If any of these systems are damaged due to a natural disaster or other emergent events, then the homeowner’s insurance will provide coverage. However, if these systems have a problem due to normal wear and tear, a home warranty can offer coverage to assist with these costs.
Appliance Coverage
Another very important part of a home is its kitchen appliances. The refrigerator ensures food is preserved to prevent spoilage. The stove provides the means to cook that food. Various other kitchen appliances help with cleaning and food preparation. These appliances are important for daily living.
When an appliance breaks down, homeowners must do what they can to have that appliance repaired as soon as possible. The national average for a typical and simple appliance repair is approximately $175. If the appliance is beyond repair, homeowners will have to purchase a new unit in addition to the service call cost.
A home warranty can offer flat rates for repairs and even replacements of those appliances. The appliances that are usually covered in a typical home warranty are the refrigerator, oven, dishwasher, and built-in microwave. If a problem arises, simply contact the home warranty company and they will dispatch a service person to handle the issue.
Roof Coverage
The roof is a vital part of a home. It provides protection against the weather. It also provides the structure for the home. Keeping a roof in good repair Is a necessary part of being a homeowner. Unfortunately, even with proper maintenance and care, a roof can leak or have other serious issues.
A home’s roof requires regular inspections to ensure no damage has occurred. It also requires timely repairs to keep it performing at its best. A roof also needs to be replaced from time to time as the materials wear out. Following these important steps, however, does not necessarily ensure the roof will never leak.
Major storm events can cause serious damage to a roof. Branches and other debris can even break through a home’s roof. This type of damage can be very costly to repair. Fortunately, many homeowner’s insurance policies will cover this type of damage.
There are times, however, when the roof can leak even without a major storm and with the proper care. Deficiencies in the materials used on the roof, poor workmanship by the roofers, or even normal wear and tear of the roof can create vulnerability where water can leak into the home.
Homeowners can add roof coverage to their home warranty to cover these types of situations. A clear and transparent service contract can be established to provide protection for roof leaks due to normal wear and tear throughout the year.
Other Additional Coverage Options
Typical coverage for any type of home police, whether insurance or a warranty, covers the basic items that nearly every home has. However, each home can vary in the things that they contain. For example, a washer and dryer set is common in many homes, but not something found in every home. This is why additional coverage is often necessary for homeowners.
For homes with additional features, systems, or even appliances, changes are often made to their homeowner’s insurance policy to cover these things in the event of a fire or other unexpected event. Many of these things would not be covered if not specifically added to the policy. The same is true with a home warranty.
To ensure the home warranty will cover these additional things in the home, it is important to have them added to the policy. This will allow the same repair and replacement options for the items not typically covered in a standard warranty.
These additional appliances can include the washer, dryer, wine cooler, stand-alone freezer, additional refrigerator, and other personal appliances. Other home features and systems can also be included in a warranty. These can include extended pipe leak coverage, septic systems, water softener, well pump, or even pool and spa equipment.
When purchasing a home, most homeowners understand that they need insurance to provide protection in case of the unexpected. A home warranty provides protection for the things that are expected. Eventually, an appliance or system will break down, when it does, a home warranty can help with the cost.
