Home Warranty Guide

Home warranties have really increased in popularity over the last few years and chances are, if you don’t know what one is, by the time you are finished buying or selling a home, you will be well informed!

A home warranty is basically an insurance policy.  They typically cost about $500 or less for one-year of coverage.  Basically it goes like this:

You purchase a home warranty for your home.  A covered item (such as an appliance) breaks.  You call the home warranty company and they coordinate with one of their approved repair companies.  The repair company comes to your house and fixes the appliance.  You pay a service charge (typically $50-$75 and this is pre-determined up front when you purchase the year-long warranty) and they fix the appliance at no additional cost to you.  Most warranty companies also allow for a brand new, comparable replacement in the event they cannot fix the appliance.