A home warranty is a year-long, renewable home service plan that helps with the cost to repair or replace parts of a home’s systems and appliances. It’s not homeowners insurance, but acts as a complement to it – protecting things that your insurance doesn’t. I typically recommend (and negotiate for) a home warranty when I have a client whose purchasing a property thats around 20+ years old, or a home that has appliances nearing the 15-20 year mark. My thought is that after spending the most money they've ever spent, the last thing a buyer is going to want to do is drop another $2,000 - $6,000 to replace a defunct appliance. To prevent that, you can get a year-long home warranty for $635, the warranty would cover everything listed below provided that you pay a $75-$125 service fee. |