Sep. 28, 2012
Few things fill me with dread as much as warm, moist air pouring from my house’s air vents in August. And that’s exactly what faced me about six months after I bought my home.
Then I remembered the one-year home warranty the sellers had included with the sale of the house. The home-warranty company dispatched a repairman who informed me that my $1,500 outside unit was toast – and that it would cost me $250 to replace it.
Home warranties act as an insurance plan that covers appliances and systems in a home. There are exceptions and exclusions and fine print, of course, but normal wear and tear on basic systems is covered – like my garage-door opener that died a month after the air conditioner.
Many sellers offer to purchase a home warranty for whoever buys their house, but you don’t have to get a home warranty from a seller; anyone can purchase one. And there’s no guarantee it’ll save you money. But if you’re looking for some protection against the cost of potential repairs, a home warranty is an option … especially if paying $250 for a $1,500 repair appeals to you.
