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The Basics of Home Warranties and What They Cover

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When you purchase a home, whether your first or fifth, you want to protect your investment. A home warranty is one way to do this, but it’s essential to understand what they are and what they cover before you purchase one. Keep reading to learn the basics of home warranties and what they cover.

What is a home warranty?

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A home warranty is a type of insurance that covers the repair or replacement of many items in a home, including appliances, plumbing, and electrical systems. Warranties are typically offered by home warranty companies as an add-on to homeowners insurance policies. Home warranties usually have a service fee that is charged each time a claim is made, and they may not cover all costs associated with a repair or replacement. Home warranties vary in what they cover, so it’s essential to read the terms and conditions carefully before purchasing one.

There are a few things that you can do to maintain your home warranty coverage. First, read your policy carefully to know what is and is not covered. Second, keep all your receipts and documentation related to the systems and appliances covered by the warranty. This will help if you need to file a claim. Third, follow the manufacturer’s instructions for the use and care of the covered systems and appliances. Finally, schedule regular maintenance checks for these items to ensure they function correctly.

What is the home warranty claim process?

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The first thing you need to do is call your home warranty company and report the issue. They will ask you a few questions about the problem and then provide you with a claim number. Once you have the claim number, you will need to gather all the information the company will need to process your claim. This includes the make and model of the appliance or system that is not working, the date of the service call, and the name of the technician who came to your home. You will also need the receipt for the appliance or system, as well as any warranties or guarantees that came with it.

If you do not have the receipt, the company may be able to trace the appliance or system through the serial number. Once you have all the information, you can submit it to the home warranty company. They will review your claim and, if approved, will work with the technician to get the work done. It is important to note that not all claims are approved, and the company may request additional information or documentation before approving your claim.

How do you choose the proper home warranty?

When it comes time to choose a home warranty, there are a few things you should keep in mind. The first is that not all home warranties are created equal. There are different levels of coverage, and some warranties may be more comprehensive than others. Another thing to consider when selecting a warranty is the company itself. You’ll want to choose a reputable company with a good reputation that has been in business for a while. Finally, you’ll also want to price compare between different companies to find the best deal possible.

When considering whether or not to purchase a home warranty, it’s essential to weigh the pros and cons. On the one hand, having a home warranty can give peace of mind knowing that your appliances are covered in case of an unexpected breakdown or malfunction. On the other hand, home warranties can be expensive, so you must ensure that the policy’s cost is worth it, given your particular needs.

Conclusion

Home warranties can be an essential safeguard for homeowners. They can provide coverage for several unexpected breakdowns or emergencies in a home. This can include things like the HVAC system, the plumbing, the electrical system, and more.

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