National Home Warranty Day 2023: Date, History, Benefits, Importance

Did you know that Home Warranty Day is coming up on February 10th this year? Home warranty day has been around and it’s celebrated all across the United States. It’s a day to recognize the importance of home warranties and how they can protect homeowners from unexpected repair bills. This post will discuss what a home warranty is, why you should get one, and some tips for finding the best home warranty for your needs. By the end, you’ll have a better understanding of how home warranties can safeguard your finances and give you peace of mind when it comes to maintaining your home.

What is a Home Warranty?

A home warranty is a service contract that covers the repair or replacement of major home systems and appliances. The term of the contract is usually one year, and most home warranty companies offer renewals. Home warranties are not insurance policies, but service contracts that homeowners purchase to protect themselves from the high cost of repairs or replacements for major systems and appliances.

While a home warranty may cover the repair or replacement of major systems and appliances, there are usually some exclusions. For example, many home warranty companies will not cover pre-existing conditions or damage caused by neglect or abuse. Additionally, most home warranty companies have a list of excluded items, such as clothing washers and dryers, dishwashers, microwaves, ovens, ranges/stoves, refrigerators/freezers, and water heaters.

If something goes wrong with a covered item during the term of the contract, the homeowner must contact the home warranty company to request service. The company will then send out a technician to diagnose and (hopefully) fix the problem. If the item cannot be repaired, the company will provide the homeowner with a voucher to purchase a replacement at a participating retailer.

Homeowners should carefully read their home warranty contracts before purchasing to make sure they understand what is and is not covered.

What Does a Home Warranty Cover?

It is no secret that owning a home is expensive. From the monthly mortgage or rent payment to utilities and unexpected repairs, there are a lot of costs associated with being a homeowner. One way to help offset some of these costs is by purchasing a home warranty.

A home warranty is an insurance policy that helps cover the cost of repairs or replacements for items in your home, such as appliances, HVAC systems, plumbing, and more. Most policies have a deductible that you will need to pay before the coverage kicks in.

While homeowners insurance covers damages caused by events like fires or burglaries, a home warranty covers repair or replacement costs for items that break down due to normal wear and tear. This can be a great relief if your AC unit goes out in the middle of summer or your fridge starts making strange noises.

Some home warranties even offer coverage for things like pools and hot tubs. Coverage and benefits vary from policy to policy, so it’s important to read the fine print before you purchase a policy. Make sure you understand what is and is not covered so you can make an informed decision about whether or not a home warranty is right for you.

How Much Does a Home Warranty Cost?

Home warranty costs vary depending on the size and age of your home, as well as the type of coverage you need. Most home warranty companies offer three different levels of coverage, each with its own price point. Basic coverage typically starts at around $300 per year, while more comprehensive plans can cost upwards of $1,000.

The Benefits of a Home Warranty

A home warranty is a service contract that covers the repair or replacement of major home systems and appliances. Warranties are typically offered by home builders or sellers as an incentive to purchase a new home, but they can also be purchased separately.

There are many benefits to having a home warranty, especially for new homeowners. For one, it provides peace of mind in knowing that should something go wrong with a major system or appliance, it will be covered. This can save homeowners thousands of dollars in unexpected repair or replacement costs.

Another benefit of a home warranty is that it can help sell a home. Buyers are often more willing to purchase a home that comes with a warranty, as it shows that the seller is confident in the condition of the property. Additionally, warranties can help to negotiate repairs or replacements before closing on a sale.

Finally, home warranties can provide protection for renters. Many landlords require tenants to purchase a renters insurance policy, but this only covers personal belongings – it does not cover damages to the actual unit itself. A home warranty can fill this gap and give renters peace of mind that they will not be responsible for expensive repairs or replacements.

How to Choose the Right Home Warranty Company

There are many different home warranty companies out there, so how do you know which one is right for you? Here are a few things to keep in mind when choosing a home warranty company:

– Make sure the company is licensed and insured.
– Read the reviews. See what other customers have to say about their experience with the company.
– Compare prices. Get quotes from several different companies before making a decision.
– Ask about coverage. What does the warranty cover? What isn’t covered? Make sure you understand exactly what you’re getting before you sign up.

Take your time and do your research to find the best home warranty company for your needs. With a little effort, you can find a great company that will provide peace of mind and protection for your home.

Conclusion

Home warranty day is an important event to celebrate for homeowners across the United States, as it increases awareness about home warranties and their value. Home warranties offer protection from unexpected repairs, saving homeowners time and money in the face of major appliance breakdowns. By commemorating this special occasion each year with National Home Warranty Day on February 10th, we can continue to spread the word about how valuable home warranties are and help more people benefit from them!

NATIONAL HOME WARRANTY DAY DATES