5 Things You Need To Know About Home Warranties

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By Michael Longsdon

Becoming a homeowner is one of the biggest accomplishments of a person’s life. Indeed, according to Forbes, the majority of Americans aspire to own their home. If you’ve finally reached this goal, you don’t want the joy to be impeded by costly repairs and failing systems. Unfortunately, though, this is the reality that many new homeowners encounter. Consider the following five facts about home warranties — including the many advantages they can provide.

1. Home Warranties Offer Many Benefits

A home warranty is an agreement between a homeowner and a home repair company. The contract entitles the homeowner to coverage for certain repairs and services, usually including appliances and home systems such as electrical or plumbing. There are many reasons to buy one, including benefits such as the convenience and peace of mind that a warranty can offer.

2. Home Warranties Save You Time and Money

In addition to peace of mind, a home warranty can offer incredible savings on the cost of home repair services. As a new homeowner, you don’t want to face exorbitantly priced repairs on top of your mortgage and other expenses. A home warranty allows you to avoid this and budget more effectively. It can also help you expedite essential repairs because you don’t have to waste time searching for a reliable repair provider.

3. Home Warranties Can Come With a Lot of Paperwork

If you do decide to opt into a home warranty plan, you should be prepared for a bit of paperwork. In fact, there are many documents that can accompany a home warranty agreement, and keeping all of these documents organized is essential in case you need to pursue a claim. You can do so by digitizing them and storing them as PDFs. Be sure to read the fine print in these documents before you sign anything.

4. Home Warranties Are Based on Several Unique Factors

When you’re shopping for the right home warranty plan, the price of a plan will be based on criteria such as your home’s age, its condition, and the amenities it includes. Take these factors into account when you’re shopping to determine how much coverage you may need. Before committing to a warranty, you should also research the company and read customer reviews to ensure that prior clients were satisfied with their services.

5. Home Warranties Are Not One-Size-Fits-All

Ultimately, you should understand that a home warranty is never a one-size-fits-all endeavor. Every single home is unique and has its own potential challenges. When looking for an AZ home warranty, you should look for one that offers customized coverage based on the risks that you identify. Consumer Affairs points out that it’s a good idea to reach out to several home warranty companies and get multiple quotes so that you can have several different options to choose from.

Protect Your Investment With a Home Warranty

Buying a home is likely the biggest investment you’ll ever make, so of course you want to ensure that it’s protected. Enrolling in a home warranty plan offers this protection, provides reliable repair service, and allows you to avoid covering expensive repairs out of pocket.

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