6 Ways to Maximize Your Home Warranty Benefits 

• Posted by Hammad Rafique October 30, 2023 Filed in Arts & Culture #home  195 views
  click to rate

  Home warranties offer a convenient and affordable way to budget for unexpected repairs. However, there are some important considerations to keep in mind before signing up. 

  Newly built homes often come with a warranty included in the sale price. Sellers who want to attract buyers can also add a warranty to their listing. 

  1. Look for a company with a good reputation 

  Home warranties offer financial protection to new homeowners. They help minimize risk, prevent buyer’s remorse, and reduce unexpected expenses. They also provide peace of mind, especially when it comes to aging appliances and systems. 

  It’s important for homebuyers and sellers to choose a company with a good reputation. Be sure to read reviews and testimonials before making a decision. Look for a company that charges reasonable service fees and provides reliable contractors. Additionally, make sure you’re comfortable with the coverage limits and add-ons. For example, a pool or septic system could require a higher service fee than an electric or furnace. 

  1. Shop around 

  Home warranties aren’t for everyone, but they may be worth it for homeowners who want to protect themselves against expensive unforeseen repair bills. When shopping around, buyers should look at what’s covered in each policy and whether it has a deductible. 

  Many reputable home warranty companies have their contracts online, which makes it easy for consumers to compare plans. Buying a home is a big investment, so having peace of mind that repairs and replacements will be covered can be well worth the cost of an annual premium. For some, a home warranty is also an alternative to having an emergency fund on hand. 

  1. Maintain your appliances and systems 

  Home warranties are a great option for those who own homes with appliances and systems that have expired manufacturer warranties. They can also be beneficial for first-time homeowners who may not be accustomed to arranging repairs and have limited emergency funds. 

  However, it’s important to keep in mind that warranty coverage can only be accessed by filing a claim when a problem arises. Homeowners should try to schedule routine maintenance, as it’s a critical step in maximizing their protection. Not doing so can be interpreted as improper usage and could result in a denied claim. Alternatively, homeowners can save the money they would have spent on a warranty and put it into an emergency fund instead.

  1. Take care of your home 

  Home warranty plans are not required by law or most lenders, and whether they’re worth it depends on your priorities as a homeowner. Generally, a home warranty company covers the cost of repairing or replacing certain appliances and systems when they break down due to normal wear and tear. The cost of the plan is often included in your closing costs or negotiated during negotiations with the seller when buying a new home. Many brand-new homes even come with a year of home warranty coverage! If you’re considering a home warranty, talk to your real estate agent and compare the companies in your area. 

  1. Don’t delay filing a claim 

  Home warranties are important for both buyers and sellers. They can help to speed up the selling process, reduce buyer’s remorse, and protect against expensive unexpected repairs or replacements. 

  But it’s important for homeowners to understand their contract and the reasons for claim denials before they decide whether or not a home warranty is right for them. Frequent maintenance and meticulous record keeping can go a long way in helping to avoid a denied claim. 

  And remember that home warranties only cover systems and appliances that are in working condition at the time of a service call. Limits are in place to keep home warranty coverage affordable for the average homeowner, so it’s important that homeowners don’t exceed those limits. For more information, look into sites like https://www.cinchhomeservices.com/homeowners/services/protection-plans that will give you more information on good warranty coverage.