6 Reasons Why Home Warranties are Important
If you already own your dream home, perhaps you have home insurance coverage. As a matter of fact, your state might require you to get it.
While home insurance is important, there is nothing as worse as purchasing appliances and having them break after a few days. It can even be worse than that, especially when they are very expensive.
This is where home warranties come in such a case. As the plans for home warranties gain more popularity, you might be wondering, is Fidelity Home Warranty worth it?
Yes, it is worth it, especially when you go for the right plan to cover repair costs and other appliance/system replacement expenses.
But if you are still on the fence wondering whether getting home warranties are worth a short, there are several reasons to convince you. Some of these reasons are:
1. Saves Cash on Replacements or Repairs
Among the main reasons for getting home warranties is that it can help save a lot of cash on repair or replacement costs. For instance, the costs for repairing refrigerators can amount to around $530, depending on the issue’s complexity and model. Plus, there might be labor charges as well as diagnosis fees.
However, with the right plan for a home warranty, you will be able to save hundreds, if not thousands, of dollars on replacements or repairs. Your home warranty provider, like Liberty Home Guard, will cater for the repair expenses and be liable for paying a service call fee that can be around $70.
2. Anticipate Expenses
Home warranties will allow you to anticipate out all the pocket costs. Rather than guessing about what will cost you when a system in your home breaks down, you will have a rough idea of the expenses to expect, enabling you to plan for a household budget.
With most home warranty companies in the United States, you will have an option of breaking the costs of the plan you choose with one-time annual payments or monthly payments.
When you make a request for service, you can as well know the amount of TSF (Trade Service Call Fee) in advance. With home warranty companies in the US, you can also choose the TSF amount when signing up, which might offer you more financial control. So that means the higher the Trade Service Call Fee, the lower amount of payment is.
3. Get Peace of Mind
You can sleep a lot easier every night knowing that you have covered your home through the right home warranty. Some warranties may cover fixtures and appliances that might be costly to replace in case they break.
Being at peace will enable you to live life without worrying a lot when something requires attention from an expert immediately or if something happens to the house.
Additionally, the amount of time it takes for replacements or repairs can decrease since it would be an issue to determine who exactly will be liable for the expenses. When something goes wrong, you will need to call your home warranty provider and allow them to handle everything.
4. Better Coverage
Perhaps, your home has many appliances and systems. From the garden to your kitchen, there are a lot of tools that you can use.
Some tools will come with warranties from their manufacturers, whereas others won’t. Having one reliable home warranty means you will not deal with a lot of claim procedures.
You will just deal with one provider who offers the right home warranty and takes good care of the items you own. As a matter of fact, the right warranty may extend to products that don’t come with warranties.
5. Additional Protection for a Special Circumstance
Home warranties serve as an additional layer of protection for many homeowners. They can as well be an option for a new homeowner who is not able to get traditional mortgages because of poor credit scores.
Since the main repayment source on home warranties is through homeowners, this kind of loan usually carries less risk compared to a conventional mortgage, making it accessible to individuals with bad credit.
It is also suitable for individuals without debts but they are not making enough cash to cover all the expenses related to unexpected emergencies.
6. Landlord Protection
A home warranty can be a suitable option for people looking to rent out their houses to keep things running effectively or smoothly.
You never know when systems or appliances are starting to wear out since you don’t use some of them daily. So it will be more difficult to predict when they’re going to break down.
But with the right home warranty, repairs will happen faster, and the total costs can be rolled into your warranty. That means you will not find it necessary to budget for anything.
In a Nutshell!
A home warranty from a reliable company is worthwhile for many homeowners since it will give you peace of mind that all expensive systems and appliances are well covered.
Plus, if your appliances and systems break down, you will only pay a small fee for services rather than paying a thousand dollars.