Home Warranty Plans
Home Warranty Plans
When investing in a home, be it new or previously owned, it is always a good idea to have some type of warranty placed on it. There are several Homeowners Warranty Plans available. They are similar, in that they all cover mechanical items only and not structural items. Typically, plans cover air conditioning units, heating units, electrical and plumbing systems, built-in appliances, etc. Some restrictions apply to each plan, and each plan has some form of deductible.
Sometimes, sellers offer a Home Warranty Plan with the home, in which case the seller pays for it. However, in the event a seller does not provide a home warranty the purchaser can buy one. The warranty plan normally runs for one year from the date of purchase. Some plans are renewable. Costs vary, but typically are in the $350-450 range. You may purchase additional coverage for such things as swimming pools and spas.
Please understand, machines being what they are, an appliance or air conditioning unit may work perfectly one day and fail the next. There is usually no warning when a machine is about to fail, and it would be most difficult to prove that a seller had prior knowledge that something was defective. The warranty plans have saved homeowners millions of dollars.
Imagine, should an air conditioning compressor fail, the repair could cost hundreds of dollars to repair or replace. For the simple payment of a small deductible, the compressor may be repaired or replaced.
HOME WARRANTY PLANS ARE WORTH THEIR WEIGHT IN GOLD!