Are you planning on buying a home in Southern California within the coming months? If so, you may be faced with having to choose a home warranty policy and will be wondering if such a policy will be worth the investment.
In this week’s video, we break down home warranty policies and provide you with an understanding of home warranty policies so you can have confidence in choosing one for your home.
How Do Home Warranty Policies Work?
Sometimes confused with a homeowner’s insurance policy, a home warranty policy is a contract between the homeowner and a home warranty company. With this contract, the homeowner can enjoy discounted repair services should any of the major mechanical systems in their home like the air conditioner, furnace, plumbing, or electrical system need to be repaired.
Some home warranty policies also cover repairs on major appliances like refrigerators, washers/dryers, and swimming pools as well depending upon the add on features of the policy.
Think of a home warranty policy as a “coupon” that you can use to potentially save thousands of dollars in repair costs should one or more major components in your home need to be repaired during the year.
How Much Do Home Warranty Policies Cost?
Like any form of insurance, you may also be wondering how much home warranty policies costs right? Depending upon the home warranty company, a typical home warranty policy can cost between $300 and $700 for the year.
Will a home warranty policy cover every damage or repair in your home?
The answer is no because, the type of coverage that you receive from a home warranty policy solely depends on the home warranty company that you choose, how to call them when something in your home needs to be repaired, what to say, and knowing the type of coverage that you are entitled to.