Are Home Warranty Packages Customizable?

When purchasing a house, the last thing you want to be worrying about is the potential for added expenses. In the event of unforeseen repairs, a home warranty can offer peace of mind.

Home Warranty Basics

The purpose of getting a warranty for your new house is to have a protection plan in place. After all, you just invested quite a bit of money; you don't want to have to shell out more if appliances or home systems start to break down shortly after you move in. With a standard monthly payment, a home warranty company will provide repair coverage for many common household systems and appliances. Repair services are performed through businesses contracted by the company and usually require you to pay a small trade or service fee.

Customization Options

Before purchasing a home warranty, familiarize yourself with what's covered. Most basic plans include necessities like heat and water heating, plumbing and the electrical system. Coverage requires a monthly payment that you must assess and decide if it's worth the investment. When looking at coverage, consider the age of the house and the included appliances. Look for records of repairs that were done in the past. If the history suggests that more repairs or replacements will likely be necessary, chances are having a home warranty will work in your favor.

Most warranty companies allow you to purchase more coverage for an additional fee. Central air conditioning and well pumps may be offered as custom options. Repair coverage for appliances such as refrigerators, clothes washers and clothes dryers is another consideration. Check to see if the warranty covers energy efficient appliances or if this requires an upgrade. If you'd like protection for odds and ends such as door seals, you may be able to add this as well. Your warranty company may offer a "plus" or "premium" plan that includes these options.

What you add to your home warranty depends on your budget and how you feel about the history of the house you're buying. Choose the options that make the most sense for your situation and enjoy the security of knowing that you're covered should anything need taking care of after you're settled in.

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