A home warranty can work together with your homeowner’s insurance to give you more protection.
What is a Home Warranty?
A home warranty is a service contract that can give you coverage for everyday wear and tear on home appliances and systems. If something breaks down, a home warranty can help you pay for a repair or replacement on a covered item.
You can buy a home warranty directly from a company like America’s Preferred Home Warranty (APHW), or you might receive a home warranty as part of a home purchase.
The home appliances and systems covered by a home warranty depend on the provider and plan you choose. However, most plans offered by home warranty companies include coverage toward repair or replacement of:
- Common household appliances like a dishwasher, refridgerator, and oven
- Major home systems like plumbing, electrical, and heating
It’s important to read the service contract to fully understand a plan’s limitations before you sign. But you should also know that some providers will let you buy optional coverage for items not covered by one of their home warranty plans.
If You Have Homeowner’s Insurance, Do You Need a Home Warranty?
If you have a home, you most likely have homeowner’s insurance, since most mortgages require it as part of the lender agreement. Yet, while homeowner’s insurance protects your home from all kinds of events and disasters, it doesn’t cover your home for normal wear and tear.
This is where a home warranty can help.
Here’s an example from the America’s Preferred Home Warranty website of how homeowner’s insurance and home warranties work together to give you more protection:
"If your dishwasher starts to leak and causes floor damage, homeowner’s insurance could cover the damage, but may not fix the leak. Whereas a home warranty could help you fix the leak, but not the damaged floor. Working together, the two policies could cover everything (less your deductibles), and help you avoid much of the costs of getting these items fixed yourself."
For a brief overview of what one warranty company covers and how it works, please visit:
America's Preferred Home Warranty - What We Cover
America's Preferred Home Warranty
You can choose your own licensed contractor for all covered repairs with this RE/MAX Approved Supplier of home warranty coverage. Click the link to view the full warranty booklet from America's Preferred Home Warranty that explains the easy 3-step claim process, what items are covered, as well as pricing information.
America’s Preferred Home Warranty booklet: clickhere
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