What is a home warranty? A home warranty is a service contract that covers repairs and the replacement of appliances and other systems in your home. A home warranty differs from a general homeowner's insurance policy in that it covers repairs and replacement of failed appliances or systems. Homeowner's insurance covers your home and its contents from hazards such as loss, theft, and destruction.
Depending on the level of coverage that you purchase,
annual premiums can range from $250 to $450, as well as a fee per service
incident that is usually between $50 and $75. Policies are usually pre-paid
each month, quarter or year, either by the seller of a home or the buyer,
depending on local practice. New homes, in particular, often come with a home
warranty as part of the sale package.Â The home warranty
company usually contracts services to local technicians who make repairs.
Depending on your level of coverage, if an appliance cannot be repaired, the
company will pay to replace and reinstall the appliance.
Ask you Realtor what warranty company they have done business with, and who they might recommend.
Local home warranty companies are:
Affordable Home Protection Services
Home Warranty of
Allied Home Warranty
American Home Shield
800-800-8880 x 6877
Old Republic Home
More Questions? Need a Realtor? Contact us at 512-423-5781