Home Appliance Insurance – Don’t Over Insure Yourself

Have you every heard of home warranty coverage? If you are a first time home buyer, there is no doubt that you have. But if you are like most people, you just don’t know how to navigate the different options and plans that are out there. And that is where most people just need a little help. The different plans are not hard to understand if you get some one with a little bit of experience to put things into perspective.

So what are the basic options?

Most of the home warranties purchased by first time home buyers are usually comprehensive plans that cover just about everything that you could think of in terms of appliances and major systems in your home.

The other options are basically just specific to your needs. You can choose a smaller plan to only cover your appliances or just your major systems like the plumbing or electrical systems. Some of the companies will even let you pick and choose the options that suite you best.

One question that many people have is not knowing exactly what all is covered by a home warranty.

Basically the things that are not covered are pre-existing conditions. Basically if there was a problem with your air conditioner before you bought your warranty, then that item will not be covered. Another common thing that happens is lack of maintenance or abuse. For example, if you do not change out the air filters on your air handler, then that will probably not be covered.

What is the problem with being over insured?

This is probably most common in people who have never owned a home before. The problem comes when the different policies cover the same appliances. Yep its happens to a lot of people and this is just like burning money. If you have purchased an extended warranty on your new fridge, then you don’t need an insurance policy that covers it as well.

Are there any good home warranty plans out there? Check out my site for a little more information.