HOME WARRANTY YOUR PROTECTION AGAINST OLD HOMES AND ACCIDENTAL DAMAGE

By Cathy Caballero

In this time of disaster and accidents, people become insurance conscious. They need ample protection. At first, it is a warranty of life – so underwriters covered their lives, their possible accidents. Then, there were fire insurance, car insurance and a lot more different kinds of protections. Why do people seek insurance? The simple answer is protection! What do people insure? – Anything that is important to them. So protection and insurance are partners, indispensable from one another. Now comes another milestone in the field of underwriting – the home warranty protection.

Home warranty protection is an unpopular kind of insurance. Not many people know about this. Perhaps only the rich and famous are familiar with this. Is it a new kind of policy? Why did insurance companies carry this kind of insurance?
Meaning of Home Warranty Protection.

From the term itself, you can deduce it is something pertinent to the home and the protection of the home. Well, you know that as it protects, it means insurance. But not all homeowners are privileged to know about this. So it is imperative that you know what are covered under this policy?

Coverage of Home Warranty
Home warranty covers cost of repairs and replacement of various appliances – costly ones. Otherwise you will not pay a premium for cheap appliances. Among the covered appliances are heating, ventilating, and air-conditioning (HVAC) units. It may also cover high end types of televisions (such as led tvs), refrigerators and electronic gadgets. It may also cover the plumbing system of your home.

There is fire insurance to cover the contents of your house in case of fire. What makes home warranty insurance different is the fact that it is not about a negative eventuality. It is pertinent to the wear and tear (through age) of any appliance or equipment.

Well, here are some questions you might want to answer.
1. When your appliance is worn out, will you buy a new unit?
2. When your appliance is subject to repair, will you have it repaired or just buy a new one?
3. Will you just invest on home warranty insurance to cover the repair and replacement of your appliance?

The big reason for a “YES” answer to question number 3 – why you should invest on home warranty protection.

The premium you will pay for the insurance of your particular appliance is usually less than the cost of replacement or repair. If your appliance is a led television, or your video is a home theater or your audio system belong to the high-end class, how much do you need to have it replaced? To have it repaired? Well, of course such valuable items are very expensive. So – your wise alternative is to insure those valuables, hardly replaceable appliances. Whereas the annual premium for the appliance is even lower that 10% of its cost.

Caution
But be wary of insurance coverage. Before you pay the premium or before you sign the contract, be aware of the provisions. There may be some catch in the contract. You will be in a battle with your insurance company when you are not paid for the replacement or repair of the insured appliance. To protect your investment, the best thing to do is find a trustworthy insurance company. Then, only then, would there be a need to buy an insurance policy.

So if you have really good quality and high-end appliances, it is imperative that you insure these hard to replace electronic devices. Your most practical move is to secure a home warranty protection. Although most of these appliances are covered by warranties upon purchase, they can wear out in a matter of time – after the expiration of the warranty accompanying the purchase.

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