How To Make The Most Out Of Your Home Warranty

A home warranty is a contract between a homeowner and a home warranty company. It provides for discounted repair and replacement service on a home's major components, which may include the furnace, washers and dryers, toilets, air conditioning, refrigerators, heaters, plumbing, your electrical system and many more. It is usually offered when you make a purchase of a new home. Home warranties have a lot of benefits and in order to enjoy them, you must make sure that you make the most out of the home warranty you got.

Keep in mind that cash is acceptable. Ask your home warranty company if ever prefer cash to have a repair completed. For example, you wanted to upgrade your old water heater to a tankless, on-demand system. Your home warranty company will replace broken items with similar items, but you might be able to get the equivalent of the replacement cost for your old water heater in cash that you can apply toward the installation of your new system.

Get a copy of your contract/ terms and conditions/agreement. Read your contract. Read the basis of coverage. Get a copy of your contract/ terms and conditions/agreement. Read your contract. Read the basis of coverage. Go into each section and make sure you have coverage for what you actually have in your actual home. Make sure you read what the warranty covers, that will be explicit. Then make sure you read what the warranty does not cover. While you're reading be sure to pay attention if you have certain equipment, for example, a commercial like a brand refrigerator that there is no limit per contract year. Some contracts limit the amount they spend per contract year on specific items. Do not rely on oral statements that may have come from a sales representative or advertising from the website.

Make sure that all of your appliances are properly installed. Your home warranty may not cover appliances that were not correctly installed. Check for licensing and bonding if you sought the help of a professional to install it. You can view here for more info.

You should renew your home warranty. It is renewable as long as you own your home. Keep in mind that a single major repair can pay for years' worth of coverage. Learn more  about home warranty, go here.

Be prepared to pay a deductible. You can do this by understanding the requirements of your plan.

The final tip is to that if you find you don't have coverage on something then move forward to see what your options are to add coverage. More than one refrigerator, pool, sump pump, well pump. If you cannot add coverage than you can ask if they have other contracts that cover that. Take a look at this link https://en.wikipedia.org/wiki/Home_warranty  for more information. 

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