A home warranty, also called a home protection plan, protects the appliances and systems in your home from unexpected breakdowns. It covers significant appliances and essential systems, unlike traditional home insurance, which only covers damage to the home itself. A home warranty plan’s value depends on your home’s age and the appliances and systems in it. Older homes typically require more maintenance and repairs than newer ones, and a home warranty plan helps protect you from these costly surprises.
It can be a selling point for potential tenants.
A home warranty plan protects the rental property against the unexpected. The typical homeowner spends thousands of dollars each year on repairs. However, these costs can be avoided or minimized with a home warranty plan. Potential tenants will be attracted to a home that is protected.
Some of the best home warranty companies in Texas offer several plans, including a basic plan. These plans include coverage for plumbing, HVAC, appliances, and ductwork. Some also offer a build-your-own option where the landlord chooses the specific features. After selecting a plan, landlords should wait for the grace period. This period varies by company, but it is typically around thirty days.
Having a home warranty plan will help you to get a higher return on your investment. A well-maintained rental property is more valuable, and people will be more willing to pay more to rent it. This will allow you to charge a higher rental rate to potential tenants.
The cost of a home warranty plan varies according to the provider and the plan itself. However, it is essential to note that every plan covers not all items. You should carefully review the coverage and terms before committing. The basic home warranty plans cover plumbing, electrical systems, and built-in appliances.
It can protect you from unexpected repair costs.
While the most basic home warranty plans typically cover kitchen appliances and home systems, many more advanced plans cover everything from the electrical system to the ductwork. Make sure you understand what each plan covers and your deductibles. The most comprehensive home warranty plans have broad coverage options, excellent service, and high cap limits on coverage.
Home warranties protect you against unforeseen costs for repairs. These plans can help you save money on unexpected repair costs and help you maintain the value of your home. Many plans are customizable, so you can pick and choose which items you’d like covered. You can also choose how many services calls you’d like covered.
The service call fee for most plans varies from sixty to one hundred dollars in Atlanta. This fee helps cover the cost of sending a technician to your home. However, you must know that you’ll be responsible for paying out-of-pocket if your warranty policy covers more than a certain amount. For example, if you have an appliance worth a thousand dollars, you’ll need to pay a minimum of $500 to cover the rest. In addition, you’ll need to pay the service fee, which is not refundable.
When deciding on a home warranty plan, knowing what is covered is essential. You should also keep detailed records of maintenance and damage. In addition, you should mitigate the damage as much as possible.