7 Reasons Why You Should Have a Home Warranty

reasons homeowners need home warranty insurance coverage

Owning a home is every American’s dream, with over 72% of renters hoping to own a home in the near future. Having a home brings a peaceful feeling, but this joy is shortlived, especially if you’re faced with emergencies that threaten to drain your bank account.

Whenever something major such as air conditioner, fridge or TV unexpectedly breaks in your home, the repairs may cost thousands. It can be stressful to dig deep into your pocket to cover these unexpected expenses.

A home warranty will relieve you of such stress; it covers the repairs or replacement cost of your covered systems and appliances whenever they break. Even though it’s an additional bill you’ll have to deal with, a home warranty is worth the risk.

Here are seven reasons why you should invest in a home warranty.


A Home Warranty Saves You Money

Home repairs are costly. Household items are bound to develop faults regardless of how well you maintain your house.

Repairing the damages is very expensive. It may cost hundreds or even thousands of dollars. In addition to the repair and replacement costs, you’ll also pay a technician to do the job if you can’t do it yourself.

You need a home warranty from a reputable company to cover the breakdown costs and keep your household appliances working smoothly.

With a home warranty, you’ll no longer drain your emergency fund on repairs or replacement costs. You will pay a service call fee, and your warranty company will contact their technician who will then book an appointment with you to check and repair your broken items.

You will also avoid hidden fee since there are no buried charges that often show up when you are paying a technician directly to repair damages.

Even though your warranty won’t protect you from every single home repair, it will cover your home’s main components, and that will save you thousands over the years.


The Warranty Saves You Time

Your warranty company has a partnership with various certified technicians such that there’s always someone available to service your home whenever you experience problems.

But if you were to source a technician on your own, you may spend hours in the computer reading customer reviews as you look for a certified and affordable technician you can rely on. Once you find one, you’ll wait until they squeeze time into their busy schedule before they can visit your home.

It may take ages before you can get services you are looking for. If you want to replace your item, you will also spend more time looking for the best replacement you can get in the market.

Sometimes you don’t have any money in the emergency account; therefore, you spend lots of time sourcing for the fund to cover the repair and damage costs.

Waiting is costly. For example, your food will go bad as you wait for the refrigerator repair technician to come. With a warranty, you can get emergency repairs and avoid such losses.


The Coverage is Affordable

Contrary to what most people think, a home warranty isn't always expensive. Home warranty consists of different coverage plans such that you only settle for what you want and can afford. Learn more here about the average home warranty cost and how to get an affordable cover.

You may be charged a service fee just for a contractor or a technician to come to your home. In addition to that, you will still pay them for their services. When you combine all the expenses you would incur whenever your items break down, it's way cheaper if you have a warranty to cover the costs.


The Warranty Gives Your Home Value

A home warranty is a great marketing tool when selling a home. It increases a buyer’s confidence in choosing your home. A home warranty is attractive to home buyers who prefer not to spend money on broken items the moment they close on a house.

When you decide to sell your home, your one year warranty can be transferred to the buyer, who will of cause pay you for it.

Again, without the warranty, a buyer might ask you to replace your old appliances before they can purchase your house. Therefore, don't let lack of home warranty to be the stumbling block when your home is on sale.


You Get Piece of Mind

With a warranty, you won’t worry about your appliances getting broken, and even if they break, you won’t think about the repair or replacement costs.

You’ll feel at peace knowing that your warranty takes care of your worries for you. Peace of mind will make you focus on other important things in life.

Worrying affects the body in so many ways. Excessive worrying leads to anxiety which interferes with your ability to function properly.


It Compliments Your Insurance

Your homeowner insurance covers against damages or losses caused by wind, fire, hail, thefts, vandalism, etc. On the other hand, your warranty cover against mechanical breakdown and the regular wear and tear.

The insurance usually won’t cover breakdowns arising from old age or wear and tear, but the home warranty will.

For example, in case your HVAC system gets damaged from a fire accident, your home insurance will likely pay for the damages. But they won’t pay you if the system breaks down due to a worn out thermostat.

Invest in a home warranty; it will complement your insurance to give you complete coverage.


It Helps You Stick to Your Goals and Plans

Your system or appliances may fail anytime, even when you least expect it. If you don’t have a warranty, you will be forced to dig into your own pocket to cover the costs.

Sometimes you’ll have to use the money you’ve already planned for. As such, some of your plans will be aborted or put on hold as you settle the cost of the urgent damages. But with a warranty in place, repair costs won’t interfere with your current and future financial plans.


Protect Your Investment with a Home Warranty

A home warranty is optional yet very important for your home. It will be your savior whenever your dependable appliances break down or wear out. 

Get yourself a cover today and enjoy these and more benefits of having a home warranty for your property.

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