What is a Home Warranty?
A Florida home warranty is a piece of mind for any home buyer. Don’t get caught with a major malfunction after closing. Things break, equipment stops working despite the best of inspections. A Florida home warranty will cover many items and technical equipment whether your home is new or has been loved and lived in. At RE/MAX Premier Group, we recommend our buyers purchase a Florida home warranty for an extra layer of protection.
Who Pays for the Home Warranty?
In some locations it is customary for the buyer to purchase a home warranty. In other locations sellers purchase a home warranty on behalf of the buyer to protect the buyer from having to answer to the buyer if something breaks unexpectedly. This is absolutely open for discussion and you’ll be glad to know a home warranty rarely costs more than $500. Prices usually start at $325. The variable in pricing of a home warranty is usually related to coverage and limits. Most home warranties are good for one year and sometimes you can extend coverage of a home warranty.
What will a Home Warranty Cover?
A Florida home warranty is designed to cover unforeseen issues with appliances and home systems primarily. For example, if an appliance stops working, the home warranty is designed to provide for the cost of replacement or repair. Some Florida home warranty companies are now offering extended coverage options and home warranty plans designed specifically for each Florida home.
Most home warranty companies have special business arrangements with service providers. Be sure to ask who these service providers are before you purchase your Florida home warranty. Ask whether or not you have the option to choose your own service provider when you first discuss the option to purchase a home warranty.
It’s important to ask your Florida home warranty company if an item will be replaced if irreparable and what kind of coverage you need to protect yourself with a home warranty in the event of misfortune. In some cases, the home buyer with the home warranty will pay a small deductible to replace equipment.
Every Florida home warranty plan is different. If you have specific concerns about certain appliances or systems in the home, ask your Florida home warranty company representative for coverage advice. In some cases, when a system or appliance breaks down in an older home, new building codes require upgrades that comply with local codes. Ask if your home warranty will cover such upgrades.
What Does a Home Warranty Cover?
Again, what your Florida home warranty covers is dependant on your specific home warranty. Traditionally a home warranty covers:
- heating and air conditioning
- water heaters
- garbage disposals
- ceiling fans
- electrical wiring
- range and oven
- telephone wiring
Beware, a Florida home warranty company could refuse coverage if the home you are buying is in poor repair or has been improperly maintained.
RE/MAX Premier Group has a large network of specialists in the Tampa Bay Florida area. We’ll be happy to refer you to a reputable home warranty company and advise you on home warranty coverage and conditions.