What Is a Home Warranty and How Can You Find the Best One?

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What Is a Home Warranty and How Can You Find the Best One?

If you are in the market to buy a house, the topic of getting a home warranty likely comes up frequently during your research. At first, it may seem like a burdensome expense at a time when you are already committing so much money to find the perfect place for your family. However, having a home warranty can actually save you money if something goes wrong after you make the big move.

You can make the best decision when it comes to buying a home warranty when you understand how this coverage can benefit you and the steps to finding the best policy. Today, DreamRose Design explains how.

What Can a Home Warranty Actually Do for You?

Study.com notes that the main purpose of a home warranty is to protect homeowners from excessive costs if a home system or appliance breaks down. The right warranty provider will also streamline the process of putting you in touch with a trusted local contractor. Depending on the nature of your policy, you might receive partial or even full coverage when repairs and maintenance become necessary.

It is important to keep in mind what a home warranty does not cover. Damage resulting from weather, vandalism, and similar disasters is covered by a home insurance policy, not a home warranty.

How Do You Know What Coverage You Need?

Before you start shopping around, assess what type of coverage you actually need. While it might seem appealing to opt for a one-size-fits-all policy, purchasing a warranty that specifically suits your situation will give you the most value.

Take a careful look at the systems and appliances you are using in your home. This even applies to items that are outside – your warranty will often cover outdoor kitchen systems, including BBQ ranges and range hoods. Newer models are likely to require a slightly more expensive policy in order to get the right kind of coverage. Keep in mind that any home warranty is likely to have coverage limits.

When you know exactly what items you want to protect under your home warranty, you can avoid being caught off guard by a coverage limit that excludes important systems. For example, a warranty may or may not cover smarthome equipment. You can turn to product manufacturers and online resources to do some troubleshooting yourself, but take a look at policies carefully for coverage.

Is There a Way To Narrow Down All Your Options?

You might find that you have quite a few home warranty providers in your area. Start by determining your own budget constraints and then compare companies that offer services within your price range. It is best to have a warranty provider that is reputable and responsive, so be sure to carefully browse reviews before making a decision. There are plenty of good options for home warranty companies, so do your research before committing to one.

When you have just a few strong choices to pick from, compare quotes to determine who is offering the best deals. Safer America reminds you that you should also read the fine print on any policy before you sign so you know what you're agreeing to before it's too late.

What Should You Do if You Ever Need To File a Claim?

When a system or appliance breaks down, it is in your best interest to file a claim quickly so you can get back to your normal routine as soon as possible. That is why organizing your home warranty documents is so important. Consider digitizing your records so that important files are always accessible and close at hand.

Set Up Your Home Warranty

Purchasing a home warranty can be the crucial step that really solidifies that a home is yours to enjoy and maintain. It is also just the sort of thing that almost seems unnecessary right up until the moment you truly need it. Give yourself peace of mind by being proactive about protecting your investments. Read through online reviews to find the best company, and then keep organized digital records in case you need to file a claim. Your extra effort will be rewarded when your warranty pays out!