What is a Home Warranty Plan?

A home is the single largest investment that most people will ever make, and the last thing that any new homeowner wants to deal with are costly repairs or replacement of complex or aging systems. Home warranties insure against repair and replacement costs for appliances and other components of a home that quit working. They can be purchased for any home, no matter what its age. Home warranties are a plus for any property, but sellers sometimes offer them for residences with older components, especially if a home inspector has red-flagged an item as past its prime. A warranty helps assure buyers that they won’t have to buy new appliances or other covered items if they fail a month after closing. Warranties are often purchased at closing, but can be acquired any time. Click on the image above to read more.