Photo by: Caleb Woods via Unsplash
Home repair insurance is an optional service agreement also known as a home warranty. It is put in place to save costs when there may be a need for repairs or replacement of any major system or household appliances. Often added as an incentive to sweeten a sale, a great home warranty is a valuable option to have.
Items covered by this insurance might include the refrigerator, dishwasher, HVAC, plumbing, washer and dryer, electrical systems and plumbing. These appliances and systems may break down and need repair at some point due to daily use.
Apart from home repair insurance, there are other types of home protection plans that take care of expensive home repairs. Some of these policies are utility insurance, homeowner’s insurance and manufacturer’s warranties. Though they sound similar, each of the home protection plans is helpful in different situations.
Note that home repair insurance covers items written clearly in the contract; it does not take care of anything outside the contract. Many home warranty providers have three coverage levels. They are the basic plan, an enhanced plan and a customized plan. The basic plan is the first level of coverage that takes care of appliances that you use every day. It also covers systems like garage door maintenance and dishwashers.
The enhanced plan is an upgrade of the basic plan; it covers extra items like a washer and dryer, jetted bathtub or water heater. You may also opt for a customized plan where you have the option of including specific features like a pool heater or well pump.
Before submitting a service request, endeavor to call the company’s customer service line. Better still, you can often file a claim online.
Follow these procedures when making a service request:
• Check your contract to be sure that the insurance plan covers the broken item.
• File a claim when covered items malfunction or stop working.
• Do not hire a contractor on your own, instead allow the home warranty provider to supply you with one of their professional contractors.
• Pay the technician a service fee.
• Ask if they will replace items that are not repairable.
There are a lot of benefits that come with home repair insurance. Go through the different plans available and opt for the one that is suitable for you. When you’re ready to start your home-buying journey contact me to go over the best strategy for securing a home warranty with your offer.
I'm John Mahan, Sales Associate with William Raveis Real Estate, Harwich Port Office.
Throughout his childhood, John Mahan spent summers on Cape Cod at his parents’ home in Dennis Port. His intro to the Cape was, as he puts it, when his parents “carried me down the stairs at Sea Street Beach when I was a week old.” With a lifelong connection to Cape Cod, it seemed only natural for John and his wife, Mary, to move to Harwich – where they still reside – with their two young children in 1996.
Prior to moving to Cape Cod, John lived in the Worcester-Auburn area where he worked for Mass Electric for 10 years and was a member of the International Brotherhood of Utility Workers. When John and his family moved to the Cape, he worked at NSTAR for six years.
John began his career in real estate in 2002 when he joined Team Waystack Realty in Harwich Port. He has been a consistent top producing realtor in the Harwich area for the past 20 years. John’s approachable demeanor, combined with an integral understanding of the Cape Cod residential real estate market, have allowed him to build trusting, long-term relationships with his clients – both sellers and buyers.
