This topic will cover the importance of having a home warranty from a reputable company when you buy a new or resale home. The standard home warranty is a one-year service contract that protects a resale home buyer or current homeowner against the cost of unexpected repairs or replacement of major systems and appliances that break down due to normal usage. Coverage is also available to home sellers during the listing and escrow period to help them keep unforeseen breakdowns from potentially delaying the close of sale.
Basic Plans usually include:
Heating system, plumbing system, electrical system, water heater, oven/range/cook top, dishwasher, built-in microwave oven, garbage disposal, built-in whirlpool motor and pump, exhaust fan, garage door opener, and sump pump.
You will want to make sure to add coverage to your cooling system, pool and/or spa, refrigerator, and the washer and dryer.
Make sure make note of when your coverage expires and make sure to renew your plan before it overlaps. Most companies will not cover anything for the first 15-30 days.
I have personally used the following companies:
Old Republic - Plans start at $395 with a $55 service fee.
American Home Shield (AHS) - Prices vary by location, but should be between $300-$500 and a $55 service fee.
Make sure to do some research before choosing a home warranty company, visit the Better Business Bureau website and do a search on the company. Also ask your local Real Estate Professional who they recommend, they will know who to use and who not to use.
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