Many people believe that a home warranty will cover anything that is wrong with the home during the first year of ownership. This is absolutely NOT the case and in the majority of the home warranties have what are known as "General Exclusions and Limitations".

It is important that you know that the majority of the home warranty companies won't pay for any repairs that are considered preexisting. If you buy a house and the furnace doesn't work at the time you purchased it, you likely won't have coverage.

Did you know that the majority of home warranties do not cover structural defects or roof replacements? The reality is that the majority of items on most home warranties that are covered are typically mechanical items such as a furnace, central air unit, hot water tank, plumbing leaks, electrical repairs and some have built in coverage for appliances while other warranty companies charge additional fees to cover appliances, hot tubs, spas or well pumps.

There is also typically a deductible for each time you use the home warranty and or have a service call. Something else you may not know is that you typically can't contact your own contractor to have repairs made. You most often must report the claim direct to the home warranty BEFORE any work can be completed. Many of the home warranty companies are nationwide firms so they have contractor agreement with their own contractors and many of them are not local to your area. This can make getting a service / repair call a bit more challenging if you have a claim.

My best recommendation when it comes to choosing and buying a home warranty is to read and compare the home warranty contract agreements between the different home warranty companies because they are NOT all the same and items covered within their standard warrant can vary significantly. Ask your real estate agent what their experience is with the different home warranty firms relating to how quick they respond to service calls and does the home warranty company make it difficult to turn in a warranty claim. Something else to consider is if the warranty company uses local contractors for service and repairs or do they contract with out of area contractors.

What is your experience with having a home warranty company? Add a comment below and tell us about your experience and feel free to tell us if you had it to do over, would you still have purchased a home warranty.

Thanks for watching!

Sam Miller
REMAX Stars Realty
710 South Main Street
Mount Vernon, Ohio 43050
Call 7403977800
http://www.SamMillerSells.com

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