What is a Home Warranty?

It is a service contract which covers the repair or replacement of many of the home system components and appliances – like the heating, air conditioner, refrigerator or kitchen faucet! It’s usually for one year. It can help you (or your buyer) avoid the cost of unexpected repairs or replacement – and it also relieves you (or your buyer) from frustrations and uncertainties of finding a qualified service provider.

Here’s how it works – you contact the home warranty company (by phone or online) when you need service on something covered by your plan. They send a qualified service contractor to fix it for you. You have to pay a flat service call fee and won’t pay anything else, regardless of the cost of repair or replacement!  Home warranties don’t cover everything so be sure you know what your plan covers – and what it doesn’t!

In some situations, a home warranty makes good sense.  If you have an older home, including a home warranty can give a buyer confidence.  For a first time homebuyer with no experience maintaining a home or an out-of-town investment property owner, having a home warranty can be helpful.  Sometimes the buyer pays for the home warranty and sometimes it is paid for by the seller.  The Ramey Team can help you determine whether or not a home warranty is a good option for you.

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