Before purchasing a new home, it is important to carefully inspect a prospective property for potential problems. However, even the best professional inspectors can make mistakes, and home buyers rarely possess enough expertise to recognize problems on their own. For these reasons, home warranties are advantageous for home buyers who are afraid of the potential costs that could arise due to property defects. This article takes a look at six advantages that home warranties could have for buyers considering a new home purchase.
1. Plumbing Coverage
A home’s plumbing system can have several problems that could be very expensive for home buyers to repair. Older homes sometimes have copper plumbing systems that could require replacement after a few years. Homes that have been vacant for a significant period of time could have general problems with pipe clogging or unaddressed maintenance issues. New home buyers can enjoy full coverage of these problems by purchasing a home warranty.
2. Appliance Repair
Appliances can sometimes break shortly after a home buyer moves in because sellers often neglect to mention long-term problems with their appliances. Thankfully, many appliances can be repaired instead of being replaced. However, the costs associated with repair could still cost home buyers hundreds or even thousands of dollars. Home buyers who have a home warranty do not have to worry about appliance repair bills because these costs are fully covered.
3. Full Coverage for Replacements
If repairs are unable to solve a problem, most home warranties cover the full cost of replacement. Home buyers can also contribute their own funds to purchase a better appliance model to prevent problems from occurring again. Appliance coverage plans can be very advantageous for properties with aged appliances that could be expensive to replace. Consider a home warranty with appliance replacement coverage if you are concerned about the cost of replacing expensive appliances on your own.
4. Defect Coverage
Home buyers are exposed to problems associated with sellers failing to disclose fundamental problems with their properties. For example, a home could have a bad foundation or the roof might need to be repaired. Unfortunately, the cost of repairing these problems could force buyers to take out an additional loan or wipe out their savings. Therefore, defect coverage can be advantageous for buyers considering a property that could have major problems.
5. Electrical Insurance
The modern world increasingly runs on electricity. Unfortunately, many older properties do not have an adequate electrical infrastructure to power the hundreds of appliances that people use in today’s world. Older homes can have problems with electrical fires and short circuits, which can force home buyers to pay for expensive electrical work. A home warranty can cover the full cost of repairs or replacements for a home’s electrical system.
6. Policy Add-ons
Most home warranties are flexible enough to allow policyholders to customize their coverage to fit their individualized needs. Plans range from basic coverage of essentials to full coverage plans that pay for anything that could go wrong. If there is something specific that you want to have covered, consider a customized policy add-on to account for your needs.
American Home Shield provides plenty of great home warranty information at www.ahs.com.