Importance of Home Warranty Insurance for the Property Buyers

In case you are searching for a home for sale, you must have noticed in some of the listings that the seller is offering some home warranty with the sale. Or maybe your real estate agent has suggested that you ask for the top home warranty in the purchase offer, or it is just the part of inspection negotiations. At this stage, you might be asking yourself, “What does this type of warranty cover?”

As an answer to this question, it can be said that the home warranty can be really valuable for the buyers as well as for those homeowners, who lived in their own homes for a certain period. This type of warranty will cover all the issues, which will arise in the home systems like electrical, plumbing, heating, cooling and appliances. Besides, there are some extended coverage policies meant for the items like spas and pools. For repairs to the covered appliances and systems, the homeowner just needs to pay for the cost of the service call and the warranty company will cover the rest.

But there can be some variations between the home protection warranty companies as well as the coverage offered by them. Therefore, it is always a good idea to read the fine print and ask the service provider before purchasing this type of coverage. Another thing you need to consider is that while you purchase an old home, there will be no guarantee on home warranty coverage. As this type of coverage mainly covers new homes, older homes are not covered.

But for the new homeowners, this type of warranty can offer peace of mind. Besides, this can also be used as the bargaining chip in negotiations. So, you must talk to the real estate agent about whether to include the home warranty in your offer or not. Even in case the home warranty is not part of your home purchase process, then also you can get it on your own. Getting this warranty will be beneficial as the cost of warranty will be much less than the cost of replacing the home systems like as water heater, furnace or air conditioner.

So, if you have decided to purchase a home warranty system for your new property, then plan ahead. The home warranty providers generally have an initial waiting period. Therefore, it is better not to wait to purchase the warranty coverage until the furnace breaks.

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