28 Jun Home Warranty Policies: Items to Consider When Selecting Your Plan
Once you’ve navigated through finding a home and made it through the final closing paperwork, the last thing you want to worry about is a broken dishwasher or faulty plumbing. As such, understanding the intricacies of home warranty programs is an important step of the home buying experience.
From costs to what is covered, home warranty programs can vary extensively. The variables that shape cost and coverage are often determined by location, detail of coverage and the current age of the home. When speaking to a home warranty company, you will want to ask questions regarding different options and evaluate what type of coverage you will need based on your home’s condition and your priorities.
In general, regardless of the plan you select, policies usually work in a similar way from a process standpoint. If you encounter a problem, such as a broken dishwasher, you call the warranty company. The warranty company then reaches out to its provider, sets up an appointment for the provider to come to your home, and ultimately the provider fixes or repairs the problem. Depending on your policy, the fee you pay will vary.
As mentioned, all policies differ in what they cover, but for the most part, here are some of the items typically covered and not covered in a policy:
- Air conditioning/heater
- Garbage disposal
- Indoor plumbing
- Ceiling fans
- Telephone wiring
Typically Not Covered:
- Outdoor items, such as sprinklers or faucets
- Spa/pools, unless specifically requested
- Permit fees
It is very important to remember that improper care of an item or improper installation can sometimes cause typically covered items to not be covered. In addition, keep in mind that all policies fluctuate and may cover items that another provider does not.