Owning a home is a big responsibility, not only financially, but maintenance wise as well. Your financial responsibility doesn’t stop with your mortgage payments; there’s insurance to keep updated, property taxes to pay, and maintenance and repairs constantly adding to the cost of home ownership.
You insure your home against natural disasters and accidents, but are your plumbing, water heater or appliances covered? The answer is “no” with most home owners insurance policies. Replacing a large appliance such as a refrigerator can get expensive, not to mention the costs of repairing plumbing problems. Yet, there is a way to cover most appliances, plumbing and heating and cooling systems for less and that’s with a home warranty.
Worried that your home may be too old to qualify? Purchasing a home warranty doesn’t necessarily mean you need a home warranty inspection. One company, American Home Shield, offers plans without having to go through an inspection.
Their plans are flexible. They range from purchasing a warranty for only your household appliances, or your heating and cooling systems, or a combination of both that fits your needs.
American Home Shield (AHS) also provides quotes right there on their site. You provide your home address and select what kind of plan you’d prefer, and their quote estimator quickly generates a monthly rate.
Their warranties cover your home for a year and will cover an infinite amount of repairs. Most warranties will renew annually.
AHS provides a plethora of information on their website. It clearly describes what their warranties cover, tips and maintenance advice, and the average cost to repair or replace what their warranties cover.
Some additional benefits of home warranties include:
- Owners of rental properties can benefit from purchasing a home warranty and saving them the headache of many major repairs. Let AHS contractors take care of it instead.
- Buying or selling your home. Having a warranty is a benefit when selling your home and can help with repairs when buying a home.
- Help maintain an elderly parents home. AHS warranties will help relieve the stress of maintaining your parents home as they get older.
For a low monthly premium you receive peace of mind knowing that you major home repairs are covered.
Do you have a home warranty or have you looked into this option?
3 Comments
@Heather – Thanks for sharing your experience. Saving and repairing your own stuff is sometimes a much better option.
I was not aware that homeowners insurance policies didn’t cover some of the major items you listed! Imagine your plumbing being damaged and flooding your home. I wonder if flood insurance would cover those expenses because it was a pipe bursting in my own home rather than an act of nature or if I would end up paying for those expenses out of pocket? I would have nothing left for my retirement! Home warranties seem like they would be a good idea to get a hold of.
@PennyPincher – I would think that in acts of nature, home owners insurance would cover the plumbing. But if the pipes just burst, I’d think the home warranty would cover the pipe repair and home owners insurance would cover your things that were destroyed. At least that’s how I understand it.