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What is a home guarantee and how do they work in 2020?



A home warranty is a service agreement that covers you in the event of major appliances or systems in your home. It has a predetermined contract length and is not the same as home insurance.

Buying a newly built or used home is very exciting.

However, figuring out what a home warranty is and how it works can be confusing.

But what if I told you that:

  what is a home warranty

Once you understand how they work, home warranties are very easy to understand and easy to buy.

In this post today I will go through how home guarantees work, who should buy them and the different costs of buying one.

What is a home warranty plan?

What is Home Guarantee Insurance? Is it insurance for your house? How is it the same as or different from a homeowner's insurance?

Maybe you first heard about home guarantees when you wanted to buy a house.

But here's the thing:

If you did not have a clear understanding of what a home warranty is, it was probably not a convincing point of sale at the time.

Even if the home you bought did not do with a home warranty, you should consider buying one.

A home warranty is a service agreement that provides you with coverage for regular wear and tear on systems and appliances in your home.

When something breaks, the home warranty company sends out a contracted professional who can diagnose and repair the problem.

Home guarantees are made easily.

Agents not required.

Get a quote and register online without talking to an agent. But we're here if you need us.

Impartial, expert advice.

Get impartial insurance training from licensed experts and also avoid dubious sales calls.

Coverage in minutes.

You can get a home guarantee within minutes of receiving your quotation and application online

How does a home guarantee work?

Most home warranties work the same way.

  • Once you have chosen the plan that is best for you, you will pay an annual or monthly premium.
  • When something breaks, you submit a claim to the home guarantee insurance company. You will need your home warranty policy number to make a claim.
  • The home guarantee company calls one of its contractors and assigns them your claim. The service person plans a time to come to your home.
  • When the contractor arrives, you pay a service fee ranging from $ 50 to $ 125, depending on the company and your plan. The contractor will fix the problem.
  • If your system or appliance needs to be replaced, it will go through the claim process, and the home warranty company will decide what to cover.

Home guarantees from state .

What does a home guarantee cover?

You may be wondering what a home warranty will cover and if you need one. Home warranties range from very basic to comprehensive.

The simplest home warranties cover a handful of basic appliances, such as your washing machine, dishwasher and waste disposal.

More comprehensive policies may include coverage for the systems in your house, such as components in your plumbing, plumbing and electrical systems.

It is important to carefully read the fine print in the plans you are considering.

Knowing and understanding the fine print will ensure that you know what is covered and what is not.

You may want to add additional coverage (if available) for some of the commonly used items, such as spas, pools, and ice makers.

Hemgaranti vs. home insurance

Now here it is, both of these products have:

  • Deductibles
  • Premium
  • The requirement to file a claim
  • Important fine print

nothing in common and handles two different situations.

A home insurance offers coverage for disasters, e.g. fires or lightning.

If something happens in your home, your insurance will cover the loss. Buying a home, the cost of home insurance premiums for the first year can be part of your closing costs. After that, you can pay monthly or annually.

Your home insurance costs can vary depending on, among other things, property value, risk of crime and environmental risk.

However, a home guarantee is not an insurance. It is a service agreement that covers appliances, house systems and sometimes the roof of your home.

Home warranty policies have different coverage options, so you can customize what you want to include in your plan.

As home insurance, you can pay monthly or annually and the coverage you want to determine the cost of the home warranty plan.

Home guarantees in a simple way.

Agents not required.

Get a quote and register online without talking to an agent. But we're here if you need us.

Impartial, expert advice.

Get impartial insurance training from licensed experts and also avoid dubious sales calls.

Coverage in minutes.

You can get a home guarantee within minutes of receiving your quotation and application online

When to buy a home guarantee?

Home guarantees are often packaged with a home sale.

Such a package provides assurance if something happens to the house after you have purchased it, especially if it is an older home.

  how a home guarantee works

When a home guarantee applies to an older house, the contract is usually one year. After one year, you can choose to renew the policy if you wish.

Think of a home guarantee when you buy a new house. New homebuilders can offer a warranty that covers up to ten years for structural components, such as sheet metal, floors and ceilings.

How much does a home warranty cost?

The average cost of a home warranty plan varies from $ 350 to $ 600. What you pay for your home warranty varies depending on several factors.

What type of home warranty do you want?

Most home warranty companies offer several home warranty plans, and this means that your cost depends on the coverage you choose.

The most basic plan may only cover a handful of larger appliances. A more comprehensive plan may include house systems.

What is the company's service charge?

Service call charges are similar to a deductible and can range from $ 50 to $ 125. Some companies only charge once if you call with the same problem within a certain time frame.

What type of home do you live in?

Do you live in an apartment or a motorhome? Are you buying a townhouse or a duplex? The type of property you own will affect the cost of your home warranty.

Do you want coverage for supplements?

Maybe you want your roof or garage door opener covered. It may cost you more. Including additional items in your plan costs extra.

Home guarantees are made easily.

Agents not required.

Get a quote and register online without talking to an agent. But we're here if you need us.

Impartial, expert advice.

Get impartial insurance training from licensed experts and also avoid dubious sales calls.

Coverage in minutes.

You can get a home guarantee within minutes of receiving your quotes and application online

Taking action

Home guarantees can be helpful for your budget and peace of mind in the right situation.

A home warranty is good for taking care of your home, especially if you are not naturally handy or mechanical.

2020, a home guarantee may be right for you if you buy an older home. They are easy to use and offer a network of professionals to help you with your home repair needs.

Just make sure you read the fine print, know what exceptions apply and what your plan covers.

If you have any questions about home warranties and how they work, please leave a comment below or start the process by clicking here or any of the buttons above.


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