Monica's Blog

Home Warranties: Protecting You from What Insurance Won't


Posted: March 08, 2017 by Monica Tobben

      Insurance is supposed to protect you when things go wrong with your home, but it doesn't cover everything.  Most insurances protect the home itself under conditions of natural disaster or fire, and if you have additional coverage it might cover the theft or destruction of your personal property as well.  What do you do if your furnace stops working in the middle of the winter, or your oven breaks?  When buying a new home, those are the concerns of new home buyers.  You just spent your savings on buying a house and all of a sudden you could be faced with a major expense; how do you afford it?  Home warranties are an affordable way to gain confidence in a purchase.  

Buyers:

   You have the right to request a home warranty on the home you are buying.  They come at different costs for different coverage, but you can request the one that is best for your needs.  Sometimes the sellers are willing to include this in the sale of the home, but if they do not want to pay for it you can buy it yourself.  Most home warranties purchased with the sale of a home will cover the home for the first year after closing, giving the buyer peace of mind as they settle into their new home.  After the first year there are options to extend the warranty.  If you are buying a new construction home in Missouri with all new appliances you may still be under the manufacturers warranty for the home systems, and the builder will have a builder's warranty for the first year of the home, but you can still do a home warranty if you want.  Home Warranties will help to protect your new home and your budget.  Home warranty companies usually have their own list of technicians they use for repairs so it will also save you the hassle of finding a trusted repairman.

Sellers:

    It is definitely worth looking into offering a home warranty with the sale of your home.  It will give buyers more confidence in making an offer on your home, and could make the deal go smoothly.  They are reasonably priced and will help set your home apart from the competition.  BUT, don't think it is all about the buyers, home warranties offer seller's coverage too.  For a small additional fee you as the seller can be covered from the time you list your house until it closes.  This could be very beneficial if something comes up in the inspection that is under your warranty it can drastically reduce your expenses in meeting inspection needs.  Having that protection if something goes wrong while you are trying to sell takes away some of the stress that can come up when you are making such a big sale.  Take some time to consider your options and see if a home warranty is right for you.

Current Homeowners:
    You are not forgotten!  If you are not trying to sell or buy a home you can still purchase a home warranty for your own peace of mind and budget.  They have plans for a monthly premium available for purchase by anyone.  It is highly likely that over time you will need to replace or at least repair some of the major systems in your home, and if that happens at an unexpected time it can wreak havoc on your finances.  With a home warranty all you will need to worry about is a small service fee for most repairs.  



Coldwell Banker works with American Home Shield to offer some great plans for both buyers and sellers.  American Home Shield is just one of many companies that offer home warranties.  If you are interested, please take some time to check out these websites and see if there is a home warranty that will fit your needs!


American Home Shield

Fidelity National Home Warranty

Home Warranty of America


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For more information about me and my services please feel free to contact me.
Cell: 636-358-7101
Office: 636-231-3169
E-mail: mtobben@cbphomes.com 

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