If you are buying a home that needs a lot or work, that has been vacant for awhile or a foreclosure or short sale you might want to consider buying a home warranty for a year and consider renewing the warranty for an extra year. It's a peace of mind worth buying. Why? you just never know, the seller likely doesn't know, your inspector might find some things but he will not be able to find all of it unless he/she breaks the walls.
How does it work?
l If a home system or appliance breaks down or stops working, you call the home warranty company.
l Your home warranty company will call a service provider it has a business arrangement with.
l The service provider will call you to make an appointment.
l The service provider will fix the problem. If an appliance or system is malfunctioning and can’t be repaired, depending on your contract coverage, your home warranty company will pay to replace and install the appliance.
l You will pay a small trade service fee (usually less than $100).
What's not covered? Check your specific policy, but in general:
l Outdoor items such as sprinklers
l Refrigerators, washers, dryers and garage door openers
l Spas and pools, unless specific coverage requested
l Permit fees
l Haul aways
What can cause denial of a claim?
l Improper maintenance
l Code violations
l Unusual wear and tear
l Improper installation
General coverage includes
l Air conditioning
l Furnace/heating systems
l Water heaters
l Garbage disposals
l Inside plumbing stoppages
l Ceiling fans
l Electrical systems
l Range and oven
l Telephone wiring
It's important to get a reputable company and to read the fine print. The deductible per visit it's very important. Read thoroughly and understand your warranty before you agree to the terms. Be sure to clear up anything you don’t understand before you sign anything. I had in the past when i first buy my home. Kept for about 3 years. The first 2 years never used it. The 3rd year water heater died on me, the pool equipment also died, dishwasher dead as a door nail. Within 3 months. Yeap! Home warranty replaced them ALL. Please call me if you want to hear the whole story rather than reading. 954-914-8056 -Marina Sarabia