Are you in the market for home warranty insurance?
Many people are unsure exactly how much coverage do they need. The problem is that many individuals are simply overinsured. They have overlapping insurance that covers the same item from more than one policy.
For example, if you have extended coverage on your refrigerator that you bought with your initial purchase, you simply don’t need another warranty to cover it also. Most purchases made at a home improvement warehouse will come with some coverage. So, chances are the salesmen sold you an extended warranty to go with it, even if you have forgotten about it.
Just check your paperwork to be sure.
Many appliance repair plans cost anywhere from two hundred dollars to around six hundred dollars. The upper end of the range can even go higher if you need some specialty items covered like a pool, Jacuzzi, or even a guest house.
Most homeowners just need some single coverage that will cover their major systems and appliances.
The appropriate time to buy a home warranty insurance is when you buy your house. That may be a foregone conclusion for most people. But the fact of the matter is, this is when you will get the best deal.
Many times when they are bought at the closing of your new home, you get a special offer that the real estate agent has worked out with the warranty company.
“I called Bill on a Thursday and he was available on the following Monday for a residential home inspection. Bill was courteous to us and thorough with his report. On the same day of the inspection, I received a detailed report including multiple pictures of each item reported. He made recommendations on handling each reported item and spoke to me on the phone about his findings. I would highly recommend Bill Bond and have been very pleased with his work. ” – Review of In-House Inspections LLC By Carter Capocaccia
You are going to know renew your existing home warranty insurance policy. How much risk do you want to take?
The name of the game with any insurance is how much peace of mind that you will need. I for one cannot afford the repair of a major system in my home. The choice is easy for me,
Being able to guarantee the proper functioning of a home’s systems is an attractive feature for potential buyers: not all homes have warranties, and it signifies to a purchaser that the seller stands behind the quality of the house.
In today’s market, having a warranty in place gives a salesperson a competitive edge that is desperately needed.
If you feel that your “for sale by owner” home has been repaired enough to go on the market, you may need to consider a home warranty.
A home warranty is short term insurance that covers the major appliances, electrical system, plumbing system, heating and air conditioning for the time span that the home is on the market. In most cases, the seller will pay for this three or four-hundred-dollar warranty.
However, there is a different approach that many vendors take. They include this cost in the sales price of the home.
If a buyer has his choices narrowed down to two or three homes. Why should he not choose the one with the warranty?
The final thing a buyer would like to deal with after paying a large down payment is the prospect of shelling out even more to fix a broken appliance. There is great peace of mind in knowing that the house’s systems are covered.
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At In-House Inspections LLC, we deliver detailed, accurate, and affordable home inspections in Memphis, Arlington, Shelby, Tipton, and Fayette Counties in West Tennessee and Desoto, Marshall, and Tate Counties in north Mississippi. We have been protecting home buyers and sellers since 2006. We take home inspections seriously and always find it an honor to inspect your prized real estate investments.