Home Warranty Insurance

The last time you were in an electronics store and bought a computer or a gaming system, the salesman undoubtedly asked you if you wanted to purchase the warranty for the product. The same situation comes up when purchasing a car as well. Owning a home is no different, there is an option to purchase home warranty insurance. You probably took that salesman up on the warranty for your new electronics or car. Since a home is a significantly bigger investment, with many components that can break down, it is even more important to purchase homeowners warranty insurance. home appliances electronic city

Home warranties basically begin their coverage where your homeowners insurance leaves off. Major appliances and systems are all covered, per the specifics of your contract. And, unlike hazard insurance, like flood or fire, these types of warranties cover normal wear and tear. This is especially useful as time goes on and your appliances become older. However, rates also increase as this occurs. This rate increase will probably be yearly as home warranty insurance contracts usually expire after a year and must be renewed to maintain coverage.

When looking into buying a new home, and, similarly, when putting your house on the market, homeowners warranty insurance is extremely valuable to have. In fact, according to a Gallup Poll, the vast majority, nearly 80%, of buyers and sellers surveyed put home warranties as one of the most important aspects of buying a home. The home warranty insurance can be purchased by either the buyer or the seller. Sellers generally purchase the home warranty in order to make their home more attractive on the market. So, they are counting on it being more likely to sell the home quickly and for a better price because of the warranty. Similarly, as a buyer, you can insure that the home you are getting and its appliances and major systems will not immediate fail you. If they do, they are easily and cheaply replaced, saving you much time and hassle. The coverage can be purchased at the time of sale, saving the seller any upfront premiums. Also, the costs can be split by the buyer and seller.

The specifics your homeowners warranty insurance and home appliance insurance may vary. It is very important to know the details and the limitations you might have in your policy. Be sure to include the most important systems and appliances to you when initiating your policy. You may pay more to have certain things covered, but it may be worth it if it is more worn out, very expensive to replace or very important to you. Policy costs will vary depending on the extent of the coverage.



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