What Is a Home Warranty? Peace of Mind for Home Buyers and Sellers – Realtor.com News

Home warrenties are a good way to have peace of mind after you purchase your new home. It isn’t a home insurance policy and shouldn’t be mistaken for one. The Home warranty covers the systems in your home as well as appliances if you were to have issues with these items after you move in. They are a good safeguard so that you aren’t spending more money on things soon after you move in. They are affordable and can cover additional items if needed.

Key Takeaways:

  • A home warranty is a policy that covers the cost of most home appliances when they break down.
  • Home warranties cover normal wear and tear leading to breakdowns. Included items are normally electrical, plumbing, heating and cooling systems. Appliances such as washer, dryer, oven and range.
  • The cost is around $300 for basic coverage but can go up to $600 for more extensive coverage and add ons such as a pool or well.

“Don’t mistake a home warranty for homeowners insurance, which covers your home’s structure and belongings in the event of a fire, storm, flood, or other accident.”

Read more: http://www.realtor.com/advice/buy/what-is-a-home-warranty/

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