Not many people are aware of home warranty. It is a form of investment that prevents you from incurring huge expenses in the repair or replacement of the appliances in the long term. By protecting your appliances under this plan, you can get relief and mental peace from the financial stress incurred on the expensive repair and replacement of home appliances.
What is Home Warranty?
A home appliance warranty is a type of an insurance product that you can buy from any reputed home protection warranty companies. This product provides efficient coverage for all major systems and appliances you use in your home.
A home appliance warranty is a contract signed between the house owner and the insurer, which states that an insurance company would provide replacement and repair for an insured appliance at discounted rates, provided specific conditions are met.
In what Cases is the Appliance Covered?
In a home insurance, any damage that happens to the home due to crime, water damage, and natural hazards will be covered. Home appliance warranty is different from a home insurance wherein the home appliances are protected against damages caused due to normal wear and tear.
Almost all of these major home appliances and mechanical systems such as air conditioning system, windows, heater, telephone system, plumbing system, smoke detector, ceiling fans, hot water pump, doorbells, electrical system, computer, kitchen appliances, refrigerator, washing machine, etc. are covered. If you want to extend the period of coverage, you can even go for an extended home appliance warranty at a nominal additional cost.
Advantages of Buying a Home Warranty Insurance
There are several benefits of buying this insurance especially for appliances that have gone old (more than four years). Some of these benefits have been explained below:
- Provides you monetary help by covering all the costs related to repairs and replacements.
- Saves a lot of effort in finding an expert and reliable contractor to do the repair work. On contacting the insurance company, you will quickly get a talented technician at your doorstep.
- The expert technicians have good knowledge to perform the repair work themselves. If any part/parts are required to be replaced, then the insurance company will procure brand new and original parts as per your request without you paying for them.
- Depending on the extent of coverage, the damaged device will be replaced with the best quality part if the technician declares it to be an unrepairable damage.
- Provides coverage for all damages that are caused due to normal wear and tear.
- By regular maintenance of parts, the price of the property increases.
- Easy technical assistance and renewal of plan each year.
By spending a few bucks on home warranty, you can save a big amount of your hard-earned money from being spent on the replacement or repair of major appliances. Thus, a home warranty is an investment that gives good returns in the future by saving a large amount of money.