A home warranty is a safety feature of a new home that every buyer should request. Home warranties are also wonderful selling points for people who wish to sell their home. Home warranty is actually a contractual agreement provided to a house owner by any of a number of different types of entities such as home builders, risk management groups or others. Home warranty industry was founded in the year 1971 by American Home shield. Have a look at what a warranty for a new home can do to allow homeowners to love into their home comfortably.
The general idea behind this warranty is that is helps to differ the cost of major repairs. Many new home buyers are afraid that their home will turn into a money pit the second they get the keys. If small repair issues plague the new homeowner, a warranty helps the new homeowner to afford repairs that could have devastated their budget.
Home Warranties Repair Many Things
Home warranties are designed to cover repairs on small components of the home that break down over time. The warranty cannot replace appliances or the HVAC system, but the warranty can pay for repairs to those systems to help the homeowner. The range of repairable items is large, and homeowners should read over the warranty before filing a claim with the provider.
Home Warranties Offer Assistance
Home warranties also offer approved vendors that can help with repairs. Homeowners may be concerned about the vendors they are using to repair their home, but working with the approved vendors from the warranty company gives the homeowner peace of mind.
Home Warranties Keep Cash In-Hand
Homeowners who are making claims on their warranty can keep money in their pocket because the warranty company pays for the repairs. There are times when homeowners need to pay a small fee for the visit, but the remainder of the repair is paid for by the warranty provider to the vendor directly. Homeowners do not have to wait for reimbursement to reconcile their monthly budget.
The best part of using this type of warranty is its convenience. Homeowners do not have to worry about paying for repairs, finding a repairman and getting a good deal. The warranty offers homeowners the opportunity to get repairs done quickly so that they can move on with their lives.