What Does a Home Warranty Give Homeowners?
The concept of home warranty plans might perplex some homeowners. They might wonder, “Do people really need home warranty plans? After all, homeowner’s insurance should cover everything that warranties would, right?” Actually, no—home insurance covers household systems and appliances in the event of a fire, flood or other disaster. However, most plans do not offer coverage for general wear and tear. For example, if a home’s refrigerator or water heater simply breaks down one day, the homeowner could end up paying the full price for a replacement if he or she does not have a home warranty. In the case of water heaters, that price could be $500-$1,100. For a new refrigerator, a homeowner could end up spending well over $3,000. Home warranty plans cover occurrences that homeowners insurance policies do not. By paying the affordable home warranty cost, a homeowner can save hundreds or thousands of dollars on repairs and replacements. Here are two major benefits of getting home warr