f you are considering insurance policy. Home sellers
buying a home, condo or sometimes purchase this type of
townhouse, then you should policy and offer this as an
know about home warranty plans. incentive to homebuyers to
purchase their home.
The term Home Warranty is used to
describe a variety of products. If a repair is needed during a
In some situations, new covered period for items that are
homebuilders use the term to covered, then the homeowner
describe the standard coverage simply contacts the Warranty
they provide on items in a new Company to request service. The
home. In other contexts, it is Warranty Company will send out a
used to describe an insurance qualified professional to repair
policy purchased by a homebuyer the item. The homeowner will
or home seller to cover items on usually have to pay a small
a resale home (not new deductible for a service call,
construction). and the warranty company covers
the rest.
In this article, we are referring
to the later type of policy –a The home warranty industry is a
policy purchased by a homebuyer competitive business and items
or home seller for a resale home. covered and costs vary from
In this context, a home warranty company to company. In general,
is a service contract to maintain many home warranty policies
or repair, when needed, certain cover: plumbing, heating,
items in a home, condominium or electrical system, water heater
townhouse. This type of warranty and major appliances, such as
is an option for buyers wanting range/oven/cooktop, dishwasher,
more coverage beyond items and garbage disposal. Policies
normally covered in a homeowner’s are typically issued in one-year
intervals, with the option to
renew at the end of the year. The In making your decision, be sure
cost of a policy varies from $200 you carefully evaluate your
per year for a small home, condo financial situation and determine
or townhouse, up to $1000 or more if you have the means to pay for
for large properties with a major repair should some costly
expanded coverage. item in the home need repair or
replacement. You should also
So should you get a home carefully evaluate your
warranty? The answer is it homeowner’s insurance policy to
depends on the condition and age determine what items are already
of the home, your financial covered. A good home inspector
situation, and your level of risk can provide you a through
tolerance. A warranty may be a evaluation about the condition of
good idea if you are buying an a home and it’s major systems
older home that is in poor before you sign a home purchase
condition. However, if you are contract. This information will
buying a newer home in excellent help you decide on whether or not
condition, then you may decide to purchase a warranty policy.
that there is less risk.
About the Author:
San Diego Homes
Mira Mesa Homes
Pacific Beach Condos
Read more articles by:
Real Estate Pros
Article Source: www.iSnare.com 
