Why Purchase A Home Warranty?

What is a home warranty?

A home warranty is a service contract, usually covering one year, which helps protect homeowners against the cost of unexpected covered repairs or replacement on their major systems and appliances that break down due to normal wear and tear.

What is Basic Home Warranty Coverage?

Most plans offer basic coverage for a home under 5,000 square feet, regardless of age includes the home's heating, plumbing, electrical system, water heater and major appliances, such as range/oven/cooktop, dishwasher, garbage disposal, etc.  usually home warranties are available for homes that are over 5,000 square feet for an additional fee.

I'm in the market for a home. What's the benefit of buying a home covered by a home warranty?

An home warranties provide limited protection during and after a home purchase. When a covered system or appliance breaks down due to normal wear and tear, you're protected for repair or replacement usually for only the cost of a deductible.   

I'm selling my home. Why would I want a home warranty?

Some warranties offer sellers coverage during the listing period.  Ask your Realtor® which plans have seller coverage and the extent of that coverage.  Having seller coverage also gives the buyer a some security against unexpected repairs.

My home systems and appliances are old. Does that matter?

Usually not. Most policies cover items that are in good working condition at the time you purchase the plan and properly maintained.  

The key to successful use of a home warranty plan will lie with your experienced Red Brick Realty agent.  Our agents are familiar with the myriad of plans offered and can explain their similarities and differences.  You can rely on us.

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Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2005. All rights reserved. www.REALTOR.org/realtormag