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What is a home warranty?


A home warranty reimburses homeowners (sometimes after a deductible) for the cost of failures for systems in the house such as electrical outlets, fans and other appliances and systems beyond the control of the owner. A home warranty acts additional coverage and fills in gaps in standard homeowners insurance.
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A home warranty reimburses homeowners (sometimes after a deductible) for the cost of repairing appliances and home systems such as roofing, heating, air conditioning, electrical, and plumbing. The intent is to insure conditions that are not covered by traditional homeowners insurance policies.

Answer: A home warranty benefits home buyers by providing reassurance that they can move in without worrying about shelling out even more for surprise repairs. Home warranty coverage, limitations, costs and co-pays vary from company to company, and I recommend shopping around for comparison purposes, but they all offer coverage on the major, structural home components. A home warranty can also benefit home sellers (if they don't have it already), since it can cover these elements during the listing period; some companies even offer free seller’s coverage during this time with the hopes that the buyer will decide to continue the coverage. Oftentimes, home sellers will offer to pay for the first year of a buyer's home warranty to entice buyers to bite.
Real Living Kee Realty
Answer: It is a warranty protecting the home owner against possible future expensive repairs.
Royalty Home Solutions, Inc
Answer: A home warranty is an "insurance" policy bought to protect the beneficiary from catastrophic costs associated with a major failure of one of the homes components (plumbing, HVAC, septic system, roof, etc.). When something happens, the owner normally calls an "800" number and the Warranty company will normally check to make sure the issue is covered, take a "co-pay" and then dispatch a vendor to diagnose the problem and make corrections.
Rightway Residential Home Inspections
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Related Questions

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