February 27, 2017 | Kim Higgins
Have you been paying lots of expensive repair costs on your home and appliances?  If so, you may want to consider getting a home warranty to help you with these unexpected costs. However, before purchasing a home warranty,  do your homework and investigate home warranty options first to see if it is feasible for you.

Generally, home warranty premiums range from $350 to $500 per year, but you need to know exactly what the policy covers. In addition, if you are buying a newly built home, you may not need to get a new home warranty because many states require the builder to repair any defective materials or workmanship for 2-10 years. Brand new appliances usually come with a 1-year warranty. However, if you are purchasing a home with older appliances, a home warranty policy usually does not cover replacing the appliances but only repairing the existing appliances. Home warranties, like all other warranties, offer different levels of protection depending on the cost. A basic policy covers a specific list of appliances and systems with yearly maximum limits and the policy might even have a deductible. You should thoroughly read your policy, including the fine print before making your decision. Some home warranty companies do not cover repairs for improperly installed appliances; others give a 30-day waiting period after purchasing it before doing any repairs. The best way to choose the most reputable home warranty company is to go online and read some reviews and talk to your realtor if possible. After you have chosen a company, be sure to ask lots of questions before signing the contract. Also, look out for tricky wording in the contract, such as “at our discretion” or “we reserve the right”.
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