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Home Warranties: What to Consider When Protecting Your Home

When it comes to homeownership, ensuring your property's safety and functionality is paramount. Home warranties are a valuable tool that provides peace of mind by covering unexpected repairs or replacements of major home systems and appliances. However, choosing the right home warranty company and plan is crucial. At UFS United Financial Services, we want to help you make informed decisions when it comes to protecting your investment.

Consider the Reviews:

Before committing to a home warranty company, take some time to research their reputation. Online reviews and testimonials from real customers can provide valuable insights. While low prices may be tempting, be cautious of companies with a history of poor customer service, delayed responses, or declined claims. Opt for a company with a track record of delivering on their promises.

Seller Contributions and Costs:

In many real estate transactions, sellers may contribute to the cost of a home warranty as an added incentive to buyers. Typically, sellers may cover up to a certain amount, such as $700, for the first year of coverage. However, it's essential to remember that after the initial coverage period, you'll be responsible for the full cost of the home warranty plan. Be prepared to budget for this expense as part of your homeownership costs.

Deductibles and Coverage Limits:

Home warranties often include a deductible that you must pay when requesting a service call. Deductibles typically range from $75 to $150 per claim. It's important to review your warranty's deductible structure and ensure it aligns with your budget.

Additionally, carefully examine the coverage limits and items included in your plan. Focus on essential systems like plumbing, electrical, HVAC, and appliances, as these are the most common areas where issues can arise. Some warranties also offer optional coverage for items like roof repairs.

Upgrades and Additional Coverage:

Consider whether you want to upgrade your basic home warranty plan to include more extensive coverage. While the initial cost may be slightly higher, expanded coverage can be highly beneficial, especially for older homes or homes with complex systems.

Benefit of Home Warranties:

Home warranties can save you significant amounts of money when unexpected issues arise. Instead of paying the full cost of repairs or replacements, you'll pay a relatively small deductible, typically less than the cost of hiring a technician.

Home warranties are particularly valuable for covering major appliances and systems, such as water heaters, furnaces, air conditioners, and refrigerators. Without a warranty, these repairs can be expensive and often come at the most inconvenient times.

Home warranties are a valuable investment for homeowners, providing financial protection and peace of mind. When selecting a home warranty company and plan, prioritize good customer reviews, consider seller contributions, and evaluate the deductible and coverage limits. Don't hesitate to explore upgrades for comprehensive protection.

At UFS United Financial Services, we're committed to helping you make informed decisions about your homeownership journey, including choosing the right home warranty plan.

Contact us today to discuss your options and receive expert guidance on protecting your home investment!

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