Your home is one of the biggest assets you have, and along with that investment, you probably have quite a hefty amount of money invested in the belongings inside. It is no big secret that carrying homeowner's insurance is one of the smartest decisions you can make. However, homeowner's insurance alone sometimes falls short when you really need the added protection for your home and the things in it. If you are a new homeowner, you are bound to be curious about how a home warranty can help ensure when this happens, you are not left in a tough spot. Take a look at a few of the most common questions curious homeowners tend to have about home warranty protection.
What exactly is a home warranty?
A home warranty is designed to cover the components of the home that are commonly disregarded in home insurance policies. While home insurance basically covers the house and will kick in if the house sustains damage from a flood, fire, or other issue, a warranty picks up the tab when certain home components fail or reach the end of their lifespan. For example, the roof may be covered by your home insurance policy if it is damaged during a storm, but a warranty would cover the costs of roof repairs relative to normal wear and tear.
What types of things does a home warranty cover?
There are an array of different forms of home warranty policies available and each one will cover different components and items inside of the home. A few of the general examples of things that would be covered with many home warranty plans include:
- appliances, such as your washing machine or dishwasher
- septic tank and septic system components
- heating and cooling systems, such as the AC unit or ducts
- plumbing components and fixtures, like the toilet, shower, or pipes
- electrical system components and wiring
- spa equipment. pools, and other luxury home features
Where can you obtain a home warranty policy?
Home warranty policies are sometimes available through traditional home insurance companies as an extra form of coverage that fills in the gaps that the traditional policy does not cover. However, you are more likely to find home warranties offered by other companies that specialize in this type of protection for residential property owners, such as High Tech Home Warranties. Just like homeowner's insurance, you will typically pay a monthly or yearly premium for your warranty protection.