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Written By Erin Easley
A home warranty is one of the best investments a homeowner can make. While home insurance can protect a home in the event of a fire, flood, or other disaster, a home warranty can shield homeowners from the high cost of repairing a structure, system, or appliance in the home if and when something breaks.
Many people look into buying a home warranty after closing on the purchase of their new home, but if the seller of a home already has a warranty, it’s possible for the warranty to be transferred to the buyer. This means many new homeowners find themselves asking, how do I know if I have a home warranty?
A home warranty is a service agreement to ensure the continued functionality of major home systems at an affordable price. Should something in the home break, a warranty allows for the item or structure to be repaired or replaced. Homeowners pay the yearly or monthly warranty cost and a small service fee similar to a deductible if they need to make a claim, but they can avoid paying the full cost of repairing or replacing something expensive. In short, home warranty plans for homeowners can save a significant amount of money in the long run.
Home warranties vary from one plan to the next. An inexpensive agreement may cover only a specific system or structure. More expensive plans could cover many different items or structures in and around a home. Some of the things that can be covered by a home warranty include:
A home warranty has numerous advantages. Here are some of the most important.
It’s possible for some homeowners to be protected by a home warranty without their knowledge. If you think you may already have a plan, there are a few ways to perform a home warranty check.
If you find that you do not have a home warranty, it’s in your interest to purchase one. Liberty Home Guard has a variety of affordable plans some for as little as a dollar per day. Contact us at (866) 699-4589 or request a free quote to get started.
Check your closing documents or ask your real estate agent directly. If the seller included a home warranty as part of the sale, it will typically be outlined in your final paperwork or purchase agreement.
No, they serve different purposes. Homeowners insurance covers damage from unexpected events like fire, theft, or natural disasters. A home warranty covers breakdowns in major home systems and appliances due to normal wear and tear.
Yes, many home warranties are transferable. You’ll need to contact the warranty provider and may be required to pay a small transfer fee to put the plan in your name.
Start by contacting your real estate agent, title company, or the home seller if possible. If you still can’t confirm coverage, consider purchasing your own home warranty for peace of mind.
Most home warranty plans last for 12 months, though some builders may offer structural warranties lasting up to 10 years. Always check with the provider for specific terms and renewal options.
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