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Do I Need a Home Warranty?

Does it seem like more and more people have home warranties these days? It’s not just your imagination. Many home warranty companies have reported an increase in sales, and it’s not expected to dip anytime soon. That’s likely made you wonder if you need a policy as well.

Let’s go over some reasons why people get home warranties so you’ll know if it’s a good choice for you. If it is, you can compare quotes and find a policy with the right amount of protection.

You Can’t Pay for Repairs Out of Pocket

Wooden cubes with the word home placed with home model and miniature cactus. Real estate business or emigration concept.

If you don’t have a home warranty, you’ll have to pay to repair or replace your home’s systems and appliances when they break down. Thus, review your finances to see if your emergency fund can absorb the costs. If not, it’s time to consider a North Carolina home warranty.

You can choose which systems and appliances to cover. Then, you’ll pay a small premium to maintain your coverage. When something breaks, you just need to file a claim, and the company will send a technician to your home to assess it. Then, the company will decide to repair or replace the item. Either way, you’ll only pay a small service fee, so you won’t have to worry about it eating into your emergency fund or adding to the balance on your credit cards.

You’re About to Put Your Home on the Market

You’ve likely heard a few horror stories from other people selling properties. They were nearing closing, only to be handed a list of requested repairs from the buyer. The entire process grinds to a halt while the seller tries to find the money to make the repairs or lowers the price. It’s even possible to lose the sale if the prospective buyer isn’t happy with the outcome.Person Signing a Document

That’s why it’s so important to get a home warranty if you’re selling a house. The warranty will protect the appliances and systems, even if you vacate the house while it’s on the market. Then, if the buyer submits a list of repairs, you can file a claim with the company instead of attempting to find the money to pay for it yourself. With that kind of protection, it’s no wonder that so many real estate agents recommend that sellers get home warranties.

Your Systems and Appliances Are Near the End of Their Lifespans

In a perfect world, your home’s systems and appliances would last forever without any issues. Of course, each system and appliance in your home has a finite life span. The closer the systems and appliances get to the end of the lifespan, the more breakdowns you can expect. Thus, it makes sense to get a home warranty to cover older appliances and systems.

Remember, you can customize your plan to only include items that are several years old if you wish. That way, you won’t spend money on coverage that you likely won’t use. Instead, you’ll cover the items that are likely to break down in the near future. You’re sure to appreciate the protection as soon as you have to make a claim.

You Just Bought a HouseKitchen with white counter tops and stainless steel appliances

If you just purchased a home, it might have come with a warranty. If not, you might want to consider purchasing one.

You received a home inspection and might have requested some repairs before buying the house. Still, you can’t be entirely sure what condition the systems and appliances are in now that you are in the home. The previous owner might not have taken as good of care of them as you think, and the home inspectors could have missed some pre-existing conditions. If you get a policy that covers undetected pre-existing conditions, you’ll be protected if anything goes wrong. Then, you can enjoy your new home instead of worrying about mounting repair bills.

Will You Benefit From a Home Warranty?

These are just some signs that you need a home warranty. You will also benefit from a warranty if you don’t like handling repairs and want the convenience of someone else scheduling services for you. Additionally, it can fill the coverage gap left behind by your homeowner’s insurance policy. With so many reasons to buy a policy, start comparing your options today.


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