Published On: Wed, Oct 13th, 2021

Home Warranty: What Makes It Worth It?

Are you about to buy a house, or did you just purchase one? If the answer is yes, congratulations are in order. However, before getting ahead of yourself, you may want to consider investing in something else: a Florida home warranty. That item could offset the costs of repairing home appliances and systems when disaster strikes. For instance, if the air conditioner breaks down unexpectedly, provided you have the right coverage, the price of repairing or replacing it might be covered. Then, instead of spending $1,000 to get it fixed, you may only have to shell out a small deductible.

That alone could be enough to make a home warranty worth it. However, some people may still have doubts. If you’re one of them, don’t go away just yet. Instead, stick around and read on to learn about what makes a home warranty worth it. Then, you can decide for yourself whether to obtain coverage or not.

Peace of Mind

One of the primary reasons why people purchase these policies is to provide themselves with peace of mind. They like knowing that if something breaks, they won’t have to come up with a ton of money at a moment’s notice. They can get the issue fixed instead of leaving the appliance as-is and hoping it’ll resolve themselves. So, if you value peace of mind, a home warranty could very well be worth it.

Are Any Issues Still Covered by Builder or Manufacturer Warranties?

Is your house brand spanking new? And, if so, does it have builder or manufacturer warranties? That tends to be the case with new homes, and, as such, buying an additional home warranty may not be in your best interest, at least not right now. If something goes wrong, the manufacturer/builder will pay to have it fixed. In other words, if you have a home warranty, you’ll probably never have to use it during the manufacturer/builder warranty span. However, it can be a good idea to get a policy after that period expires.

What If the Seller Provides the Home Warranty?

Sellers sometimes provide home warranties as an incentive to draw in buyers. This can be a great perk; you can move into a new house without worrying about how you’ll cover any issues with systems or appliances that crop up for a while. Any breakage due to regular wear and tear will be covered, and you didn’t even need to pay for the policy.

However, some sellers might not get the best home warranty; they might just slap a cheap one with minimal coverage onto the deal instead. So, if you’re buying a home and it comes with a policy, do yourself a favor and read over it thoroughly to make sure you’re getting what you want. This applies if you’re choosing a home warranty for yourself as well. Make sure you get the coverage you want at a reasonable yearly rate.

Average the Savings That Could Come Your Way

If your primary concern is to save money, and a home warranty helps you do that, it goes without saying that the contract is worth it. However, it would help if you had some examples to see the savings that could head your way because of a policy.

According to The Balance, the average cost of an appliance repair is $171. But, with a home warranty, $96 is the average savings people receive on the said repair. Meanwhile, the article also states that the normal cost of a household HVAC system fix is $370, but a person can save a whopping $241 or so with a warranty. Those are pretty significant savings, especially over time.

Closing Remarks

There are different things to consider when determining if a home warranty is worth it or not. Yet, for the most part, if you do some research and make sure you’re getting the best bang for your buck, a policy can be beneficial. Thus, whenever you’re ready, obtain yours and discover what the fuss is about for yourself.

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