A home warranty is often confused with a home insurance policy, and as a result, many homeowners overlook a warranty plan. However, these products are pretty different.
While a home insurance policy will safeguard your property and everything in it with financial protection in the event of unpredictable events like theft, home break-ins, weather damage, and even natural disasters, a home warranty plan is more like a service contract.
If you’re not too sure if a home warranty is really all that worth it, we’ve rounded up five of the most compelling reasons why you can’t go without this type of warranty plan.
Protect Your Budget
One of the most compelling reasons to rely on home warranty coverage is that it can help you stabilize your budget and avoid unplanned costs. This warranty plan will cover expenses associated with your home’s major systems and your household appliances. These things can be understandably expensive to repair and replace, so a warranty plan makes sense.
Instead of wondering when another appliance break-down will throw your budget off, you can opt for a one-year service agreement with one of the best home warranty companies.
Know Out-Of-Pocket Expenses
Another great thing about having a home warranty plan is that you’ll know what you’re covered for and what you need to pay for out-of-pocket; this enables you to anticipate expenses more accurately.
Extra Protection
A home warranty plan is also a great extension of home insurance for homeowners. At the same time, it’s also an extension of tenant insurance. This service contract provides additional financial protection because it covers costs that insurance policies don’t.
Your warranty plan will come in handy when you need professional service providers to repair or maintain your home’s built-in system or appliances. Unlike insurance, warranty plans do cover the expected wear and tear of appliances and home systems.
Value For Money
Everyone’s after value for money when navigating the market as a consumer; it doesn’t make sense to spend more than you should if you can save.
Home warranty plans also offer alluring opportunities to save money. Some plans extend exclusive discounts for customers that opt for warranty cover. In addition to this, these coverage plans are also relatively affordable. Some warranty plans can cost as little as $75 per month, which is a small price to pay for peace of mind.
Different cover options also allow customers to tailor warranty plans to fit their budget and cover needs better.
Peace Of Mind
One way that home warranty plans are like home insurance policies is that both of these products provide peace of mind. Because you’ll have extra financial protection as a homeowner, you’ll have fewer monetary worries.
Home insurance and home warranty plans are exceptionally valuable for consumers and homeowners. These products provide financial protection that can prevent unexpected costs from ruining your budget.
Even so, it’s wise to compare warranty options and look into the best home warranty companies before making a decision.