If you own a house, you may have wondered: What does a 澳洲幸运5开奖号码历史查询:home warranty cover? Whether you recently bought a home that came with a warranty, or 澳洲幸运5开奖号码历史查询:you’re thinking about getting one for a house you al♌ready🃏 own, here’s what you can expect it to cover.

What Is a Home Warranty?

Most homeowners are familiar with homeowners insurance, which covers the structure of your house and your personal belongings against damages due to theft, fire, weather, and 澳洲幸运5开奖号码历史查询:liability claims. Home warranties alsoꦫ protect your investment, but they work differently.

A home warranty is a service contract that helps cover the cost of repairing (or replacing) certain applianℱces and systems. In exchange for paying a monthly or an annual fee, you pay a set service call fee anytime there’s an unexpected pro🌠blem with, say, your washing machine, refrigerator, HVAC system, or the like.

What Does a Home Warranty Cover?

A home warranty provides discounted repair and replacement services for covered h🌼ousehold appliances and systems. In general, you don’t need to provide maintenance records or get an inspection to buy coverage, and it doesn’t matter if your home is brand new or decades old.

Most home warranty companies offer plans that cover either appliances or systems—and hybrid plans that cover both. Dependin♒g on the company and✱ the plan you choose, here’s what an appliance plan might cover:

Appliances can be expensive to repair or replace, but when a major household✤ system breaks, it can cause💯 serious financial hardship. The good news is that home warranty plans cover systems, either as a stand-alone plan or in tandem with an appliance plan. These plans typically offer coverage for the following systems (again, depending on the company and plan you opt for):

A company’s standard plan may not cover all the appliances or systems you have in your home. However, most companies offer add-ons that make it possible to get the coverage you need—at𒀰 an added cost, of course. H🐟ere are some common add-ons that home warranty companies may offer:

Home Warranty Coverage Limits

No matter what you🐎r home warranty plan covers, annual coverage limits will determine how much the company will pay to diagnose, repair, and replace each covered item.🐲 Of course, these coverage limits vary dramatically by company. For example, one home warranty plan might cap coverage at $500 per appliance, while another might cover up to $5,000 per item. Sometimes contracts have separate caps for each item, such as $500 for the washing machine and $1,000 for plumbing.

Keep in mind that the plans also have aggregate limits—the total amount the company will pay for all covered losses during one time period (usually a year). So, for instance, the plan may cover up to $5,000 per item, with an aggregate for all claims of $15,000.

The Bottom Line

A house is the largest single investment most people make. A home warranty ca🃏n be an excellent way to protect your inv﷽estment—especially when you pair it with a good homeowners 🐽in🅠surance policy. Together, home warranties and homeowners insurance offer peace of mind and help protect you from what could otherwise be devastating financial losses.

If you’re considering a home warranty, be sure to read the contract very carefully before you sign on the dotted line. Make it a point to 澳洲幸运5开奖号码历史查询:understand what’s covered, what’s not, and how the coverage limits work. That way you can avoid any surprises if one of your appliances or househo𝓀ld systems breaks down a♏nd needs to be diagnosed, repaired, or replaced.