Owning a home can be expensive. From the initial realtor fees to regular maintenance and upgrades, homeowners will spend significant amounts of money when they occupy the house. If you own a new home or maintain an older one, hidden expenses will arise with any dwelling. If a refrigerator goes out or the water heater malfunctions, a homeowner could incur thousands of dollars in repair or replacement costs. If something significant happens, such as a plumbing emergency, the expense could be even higher. In these situations, a home warranty could protect your budget and home.
A home warranty and a home insurance policy both provide financial protection and peace of mind for homeowners when something goes wrong. While both kinds of policies provide security, they offer coverages for different things. In simple terms, an insurance policy covers structural issues and loss of personal property, while a warranty can assist with home systems and appliances. If you have requisite insurance, there are a few things to consider when looking at warranties. Should something arise, such as an emergency with the plumbing system, you’ll want to make sure that you’re covered. Let’s take a look at how a home warranty might protect you.
What is a home warranty?
A home warranty is a supplemental agreement in addition to insurance that covers a home’s major systems and appliances. For example, a warranty will step in to help cover the costs associated with the replacement or repair of air conditioners, refrigerators, washers, and dryers that have broken due to normal wear and tear. Additionally, your insurance usually won’t cover the cost to repair a septic system or HVAC ductwork; however, a home warranty will. To find the best home warranty, search for something like “top home warranty in Arizona” and browse available coverages and plans. The best home warranty company will provide comprehensive coverage for all of your home’s major systems and appliances.
Does a home warranty cover plumbing emergencies?
Your plumbing system is quite delicate and could be a significant cause of damage if something goes wrong. While pipes can burst due to cold weather, your plumbing system could become clogged or incur other issues at any time. Water lines are usually pressurized and can build up pressure that can burst pipes and lead to other problems. Such plumbing emergencies can cause issues or damage to your sinks, drains, toilets, showers, and even dishwashers. A plumbing system issue could also cause problems with your water heater and septic tank. In these situations, your walls, floors, and cabinets could become soaked. While your insurance may cover physical damage, it usually won’t cover the cost to fix burst pipes or plumbing problems. Fortunately, a home warranty will.
Since homeowners insurance covers the structures of your home, if your plumbing system develops an issue, you might be out of luck and have hefty out-of-pocket costs. A home warranty is a plumbing warranty for your home, however. A home warranty can cover little things that can go wrong with your home’s plumbing system, such as leaks, worn-out valves and faucets, or broken pumps and motors. It will also protect against major issues such as burst pipes and septic tank back-ups. A home warranty can provide coverages so that your plumber can correct the problems and get your home back on track.
In addition to providing a protection plan for your plumbing system, a home warranty can extend coverage to all of the essential systems and appliances throughout your house. From your electrical system to the HVAC, a home warranty provider can make sure that you’re covered. The average price of a good home warranty ranges from $300 to $600 per year. When you consider the cost of a plumbing emergency, however, the cost could be well worth the peace of mind and protection.
