The home warranty plans are the service contracts, which cover all the home system components and essential applications while those break down because of normal wear and tear. So, whether you are just planning to buy a new home or just moving into a new home while selling your existing one, this type of warranty can be a valuable protection for your finances, which can also offer you complete peace of mind. This type of plan is completely different from the homeowner’s insurance as the latter covers the house and the personal possessions of the homeowner in case of fire, theft or damage from any other things. But in this case, the homeowner will not be able to make any claim in case of general failure of the appliances and home systems. This is the place, where having home warranty plan makes sense.
The home warranty plans are ideal choice for those homeowners, who want to take advantage of the benefits of not having to worry about the electronic systems of their homes for minimum a year, while the coverage is in place. So, when there will be the need to repair something, all the homeowner has to do is to call the home warranty provider without the requirement of involve the seller.
On the other hand, the best home warranty plans work as great marketing tools for the home sellers. So, whether you are a house-flipper, a seasoned investor, an occasional home seller or a real estate agent, it makes sense to sell the homes with home warranty plans. Even in case your home doesn’t have any home warranty plan, still the best option will be to get a home warranty plan before you sell the home so that the systems don’t malfunction or break.
But before considering the home warranty plans, it is better to research well. In most of the cases, home warranties vary from one company to another. Average cost of home insurance ranges from $300 to $500 and these mainly last for a year after the closing date. Before you sign any final document, make sure that you read all the fine prints and find out the things that are covered in the plans and what are not. Apart from that, it is necessary to check the limitations of these policies along with the additional policies that you may have to pay to get these plans.