What are the Advantages of a Home Warranty?
When most people think about taking steps to protect their home from unexpected events, they tend to think of home insurance first. What they may not know is that home insurance only protects you from major disasters such as hurricanes, vandalism and lightning, they're not actually meant to cover day to day damages and wear that your home experiences through everyday use.
If you're looking to protect your home, your appliances and the systems that keep your life comfortable, then what you actually need is a home warranty.
Unlike home insurance, a home warranty is designed to care for your home and the systems within it when they break down through regular use. For instance, if your central air conditioning is getting too old to function reliably, your homeowners insurance won’t do anything for you. With a home warranty that covers your air conditioner, you can reach out to your warranty provider and they'll help cover the cost to replace or repair it. Some home warranties, like those provided by American Home Protect, even send repair or installation technicians directly to you so you don’t have to do anything aside from report the issue.
American Home Protect also covers many types of routine maintenance on your house and allows for you to have a handyman come out to mount your TV or clean your gutters for the same cost as your deductible.
To help you become more familiar with the advantages of a home warranty, we've created this helpful guide. Read on to find out the many benefits that home warranties provide that make them a great idea for smart homeowners as we explore the following topics:
· What are Home Warranty Cost Benefits?
· How Long Does a Home Warranty Last?
· How Soon Will Your Home Warranty Take Effect?
· What Will a Home Warranty Do for Me?
What are Home Warranty Cost Benefits?
Like any sort of warranty, the primary benefits of a home warranty come into play when you weigh their cost against the potential cost of replacing a home system or appliance.
For instance, imagine that you have a home warranty in place when your refrigerator breaks down for no apparent reason. If it’s covered, you could get a new refrigerator, or at least repair your existing refrigerator for a minimal cost. On the other hand, if you aren't covered by a home warranty, you'll be on the hook to replace the appliance yourself. This could ultimately cost you well over $1000 depending on the particular model of refrigerator that you have.
It's worth keeping in mind that home warranties do have a deductible as part of the cost. This means that if you need to replace or repair a home system or appliance, you'll have to pay a small fee in order to have someone come and perform the task. However, this cost is almost negligible when compared to what it would cost to hire your own technician or to purchase a new appliance. In most cases with American Home Protect this deductible is only $65.
How Long Does a Home Warranty Last?
Home warranties tend to last for about a year at a time, though some warranties, like the ones offered at American Home Protect, last for three years at a time. These warranty policies often come with a renewal option upon expiration, which allows you to seamlessly renew your coverage so that you don't have to worry about anything breaking while you're uncovered.
With these renewal options in place, your home warranty can last for an indefinite period of time. So long as you remain happy with the benefits that are provided by your home warranty coverage, there's no reason that your policy should ever expire without your knowledge.
How Soon Will Your Home Warranty Take Effect?
As soon as you purchase your plan and sort out all of the necessary details, you have a 30 day waiting period and then your home warranty will go into effect. This means that once you get all the information you need over to us and activate your plan, you’re covered 30 days from that point — even if a well-maintained appliance breaks. That appliance is now covered under your home warranty, and you can call in a technician for a repair or replacement.
What Will a Home Warranty Do for Me?
A home warranty can do a lot of things for you as a homeowner. It can help you replace or repair broken appliances and home systems. For that reason, probably the biggest benefit it provides is peace of mind.
If you're a homeowner, especially if you're a new homeowner, then it's likely the first time that everything under your roof is entirely your responsibility. That responsibility can be a double-edged sword. In some ways, the increased control over your lifestyle allows you to craft the best life possible within your means. On the other hand, that higher level of control can result in your being on the hook for things when they go awry, even if it's not through any doing of your own.
Ultimately, things are going to go awry in some way. Even the best maintained appliances and systems break down from time to time. And when things go wrong, the difference between paying thousands of dollars out of pocket for a new appliance versus paying less than $100 for someone to come to your home, diagnose the issue and then set you up with a brand new appliance is undeniable. It can mean the difference between draining your hard-earned savings and having enough money to keep your budget on track.
If you're interested in having more peace of mind, or simply want to know more about home warranties in general, then you've come to the right place. Explore our warranties or sign up for one today to see how having a home warranty can make a difference in your life as a homeowner!
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