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What is the home warranty policy?

What is the home warranty policy?

What is the home warranty policy?


 A home warranty is a service contract that covers the repair or replacement of major home systems and appliances. It provides homeowners with financial protection against the cost of unexpected repairs or replacements due to normal wear and tear. Home warranties are different from homeowners insurance, which typically covers damage to the structure of the home and personal belongings caused by specific perils like fire, theft, or natural disasters.


Here are some key points about home warranty policies:


1. Coverage : Home warranty coverage varies, but it typically includes major systems such as heating, ventilation, and air conditioning (HVAC), electrical, plumbing, and major appliances like refrigerators, ovens, and dishwashers. Optional coverage may be available for items like pool and spa equipment or washer/dryer units.


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2. Service Calls : When a covered item breaks down, the homeowner can contact the warranty provider, and they will arrange for a service technician to assess and repair or replace the item. The homeowner usually pays a service fee or deductible for each service call.



3. Contract Period : Home warranty contracts typically last for one year and can be renewed annually. Some contracts may have longer terms.


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4. Limitations and Exclusions : Home warranties often have limitations and exclusions, and not all repairs may be covered. Pre-existing conditions or issues caused by neglect or misuse may not be covered. It's crucial to read the terms and conditions of the warranty carefully.



5. Renewability and Transferability : Some home warranties are renewable each year, while others may not be. Additionally, some warranties can be transferred to a new homeowner if the property is sold during the warranty period.



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6. Cost : The cost of a home warranty can vary depending on the extent of coverage, the provider, and the location of the home. Homeowners typically pay an annual premium, in addition to the service fee for each repair or replacement.


It's important for homeowners to carefully review and understand the terms and conditions of a home warranty before purchasing one. Additionally, they should research and choose a reputable warranty provider with a good track record for customer service and claim resolution.

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