Is Home Warranty Worth It?
Home warranties, also known as service contracts, are agreements that provide repair or replacement coverage for certain home systems and appliances. Some people believe that these warranties are not worth the cost because:
The coverage may not be comprehensive enough to cover all potential issues that may arise.
The repairs may not be made by qualified or licensed professionals.
The warranty company may not cover the full cost of repairs or replacement, leaving the homeowner with additional expenses.
The warranty company may be difficult to reach or take a long time to respond to a claim.
Many home system & appliances are covered by manufacturer's warranty, which will expire after a certain period, so the buyer may not need a home warranty.
It's always a good idea to read the fine print and understand the details of the coverage before purchasing a home warranty. And it's also a good idea to compare the cost of the home warranty with the projected costs of repairs or replacements without the warranty.