A home warranty in it's basic form is a warranty that will pay to repair or replace specific broken items in a home. Covered items will vary from one company to the next but the common items covered are the air-conditioning, heating, plumbing system, water heater, electrical system, microwave oven, range, and refrigerator. Most plans will have a small deductible or service fee and most will require you to call a number so they can set up service on the item. Prices will likely range from $325.00 to $425.00 per year.
There are several advantages to purchasing a home warranty. Most commonly, the seller may provide a warranty at closing, for the buyer. This not only sets the seller's house apart from others for sale, but it gives the buyer piece of mind on the purchase. The advantage for the seller is that some policies will allow sellers coverage. So if they list their house and the air conditioner should stop working, they can call the warranty company and have the system repaired.
If you are buying a home consider the advantages of a home warranty. If the seller will not provide one, you should consider purchasing it yourself. Its a good feeling when you can call the warranty company to fix the broken item in your new home and you don't pay large repair bills.
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