If you are a homeowner, you may need home warranty services. Various home warranty companies provide service contracts that can help you pay for appliance repair or replacement. There are many things you should know before you sign your agreement:
What Do Home Warranty Services Protect?
Most standard policies cover repair costs of your HVAC system, plumbing, electrical wiring, garage doors, kitchen appliances, water heaters, and other major components of your home. If you have an in-ground swimming pool or sauna, you can purchase add-on coverage for the maintenance of these items. You can also buy additional coverage for a well pump or duplicate appliances.
What Is Not Covered?
Typically, pre-existing conditions are not protected by home warranty services. Neither are items still under a manufacturer’s guarantee, repairs due to homeowner negligence, or problems caused by mold. In addition, repairs resulting from natural causes, such as storm damage, are not covered through this type of warranty. In general, these warranties are not meant to serve as additional homeowners insurance. Instead, they serve as a way to help with general wear and tear on your home, within the scope of the policy.
What Is A “Pre-Existing Condition?”
When the home is inspected before the purchase of the agreement, certain items will be checked to determine if they are in proper working order. The inspector will work with the home warranty services provider to decide what issues are pre-existing in your home. This could include a dishwasher that is not in working order or a plumbing system that has yet to be repaired.
What If Appliances Are Older?
In general, as long as appliances are in good working order, there is no age restriction for protection. It is the responsibility of the homeowner to take care and properly maintain appliances during the period of coverage.
How Is A Claim Filed?
This will depend on your individual provider, but you can typically call the toll-free number located in your service paperwork to file a claim. You should be assigned an account or agreement number that you will need to provide to the service company. Make sure you contact your provider before you begin work on your home to make sure that it is reimbursable. There may be times when your provider will want to discuss repair options with your contractor before the work begins.
As a homeowner, it is a good idea to look into companies that provide home warranty services. Warranties can be a great comfort to many homeowners. However, it is important to know what is and what is not handled in your agreement. It is important that you do all you can to maintain your home in order to get the most from your agreement.