Among all the paperwork you have to keep track of when you are building a new home, is your warranty. Your home's warranty is important for a number of reasons and it is important that you ensure that you understand it. If you have purchased a warranty or it was included, here are some areas of it to pay special attention to.
What Is Covered?
What is actually covered by your warranty can vary based on the company offering it. However, home warranties usually cover certain kitchen appliances, heating systems, water heaters, and the plumbing. Plans tend to differ so it is important that you ask what exactly is covered by the warranty.
Home warranties generally do not cover air conditioning systems or a swimming pool. You might be able to purchase enhanced coverage to provide protection for those items.
Your warranty provider might require you to buy the enhanced coverage within a certain period. If you fail to do so, you may not be eligible to purchase a warranty.
Can a Repair Be Denied?
There are some instances in which the company providing your warranty might refuse to repair or replace a broken item. For instance, if it is determined that you did not properly maintain the item, the company could refuse to pay the cost of repair.
Other issues that might lead to a refusal to pay include improper installation, code violations, or signs of unusual wear on the item. In these instances, you would have to pay out-of-pocket for the repair or replacement of the broken item.
Can You Get Cash for a Repair?
Another area to cover with the warranty provider is whether or not you can receive cash for broken items. Some companies do payout in cash so that the funds can be applied to upgrading the broken item. For instance, if you want to upgrade your heating system to a more energy efficient model, you could use the funds from the warranty to help pay for it.
Is This Warranty Different from the Builder's Warranty?
Your builder's warranty and your home's warranty are different. Your new home builder's warranty will cover repairs, such as the foundation, finish, and walls. It is important that you do not confuse the two so that you do not miss out on vital coverage that is needed to maintain your home.
The most important thing to remember when reviewing your home warranty is to ask questions if you do not understand any part of it. By knowing exactly what it means, you can ensure you have the coverage needed.Share
11 June 2015
After saving money for years, I was finally ready to build my dream home with a team of professional contractors. I started by talking with the team about what I wanted, and then we moved forward with our plans. It was really incredible to see the things that I wanted come to life, and within a few months, my home was underway. I can honestly say that I was incredibly pleased with our construction team, and I couldn't have done it without them. Check out this blog to learn more about construction and working with a team of qualified professionals.