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What is a Home Warranty?

Posted by Jeff Sallan on Friday, February 15th, 2019 at 11:11am.

If you're new to home ownership, you may be confused about a home warranty. Maybe you've owned your home for years and are considering a home warranty for any emergencies that might spring up. There are several home warranty companies and you should do your homework before selecting one. You may consider asking a Realtor you trust the following questions: 

1. What does a home warranty cover? Typically, well-maintained systems and appliances are covered. Home warranties will usually cover the cost of an appliance or system (that's covered under the plan you choose) that's breaks down from normal wear and tear. In addition to the annual fee, you will also pay a service fee to the provider. 

2. Who does the repairs? Local contractors that are contracted with the warranty company will complete the repairs. As the homeowner, you would contact your home warranty company and they will reach out to one of their approved contractors to contact you to set up the appointment. You do not choose your contractor. 

3. Do all home warranty companies cover the same thing? There are several home warranty companies and they typically have different packages. If you're purchasing a home, the seller will likely pay for a certain package or tier of service. If you want a better package you can pay the difference or work that in to your negotiations. If you currently own your home, consider the system or appliances that have been well maintained but may be toward the end of their lifespan. These are the items you may want covered under your home warranty.

4. Aren't all home warranty companies the same? There are several reputable home warranty companies. There are also companies looking to make a quick buck. Your Realtor will be able to provide you with information about legitimate companies they've worked with before. Also consider doing your own research and check with the BBB and look at online reviews. 

Buying a home is a big decision and Sallan Real Estate would be honored to help you find a home in Northern Nevada that fits your lifestyle. We work closely with our home buyers and have decades of experience helping them to find homes they love in the many wonderful neighborhoods in Reno-Sparks. If you have any questions about the local real estate market or buying or selling a home, please reach out. 

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