As a homeowner, there are a few practical ways to protect your pocket from unexpected and costly events. While homeowners insurance can cover you from instances of fire, storm damage, home break-ins, vandalism, and even burst pipes.
But home insurance is not the only beneficial policy out there that can safeguard your finances. A home warranty plan typically covers expenses that home insurance does not.
Benefits of Home Warranty:
Even so, if you are wondering if this service contract is worth the cost, we have listed five major benefits it provides homeowners.
1) Protect Your Budget
A home warranty plan can effectively help you stick to your budget better. This service contract covers the major systems in your home and even appliances, which are typically quite expensive to repair or replace. So, if anything in this category breaks down or needs a service, you won’t need to neglect your budget.
Nevertheless, it’s essential to read through reviews of home warranty companies to find the best deal that offers suitable coverage because all home warranty providers do not provide the same.
2) Anticipate Expenses Better
You already have so many expenses to prioritize, from insurance premiums and ongoing property maintenance to utility bills and property taxes.
If you have a home warranty plan, you will be able to anticipate out-of-pocket expenses more accurately. Instead of guessing which system might break down, you can only budget for expenses not included in the home warranty.
3) Extra Expense Protection
Home warranty plans complement homeowners insurance perfectly. These service contracts cover unexpected costs that insurance policies do not, so you will have extra expense protection.
But even though a warranty is an excellent addition to your financial plan. As a homeowner, it’s crucial to remember that a warranty cannot substitute for an insurance plan. So, it’s best to have both.
4) Better Time Management
It’s no secret that things tend to break down at the worst possible times. The ironic timing of major home system breakdowns can leave you scrambling to find a repair service in time.
Otherwise, if you have a warranty plan, all you will need to do is lodge a claim from the service contract. Moreover, the warranty provider will handle everything else for you.
For example, if you need a plumbing service, you won’t need to compare experience, read service reviews, determine reliability, and compare pricing to find the best plumber. All you’ll need to do is contact your warranty provider.
5) Value-Added Savings
Home warranties also often offer value-added savings and discounts to consumers. Some provide savings and discounts on major brand name appliances, while others provide valuable info on how to run your home more efficiently.
You can also easily find home warranty discounts and promotional codes when shopping for new appliances.
That said, when choosing the best home warranty plan, it’s crucial to read through warranty provider reviews, compare plan details, and evaluate pricing. It’s also wise to choose a warranty from a list of top-rated warranty companies. This ensures you will find a reliable warranty.