Check with Realtor for advice on home warranty plans

Home warranty plans can save you time, energy and money in repairs. It can be a great way to minimize risks whether buying or selling your home. Some Realtors have used and recommended home warranty plans over the years for their clients, yet other Realtors don’t. Ask your Realtor for advice. Every home and client are different, so home warranty plans may or may not be right for you.

Seven out of 10 homes will experience a system failure during the course of a year. Typically, when a repair is needed, the home warranty company will tell you who to contact. Be sure to call the warranty company first. If you call a repair person and the fix is not authorized by the warranty company, or you use a repair person who is not on the company’s approved list, then you will not be reimbursed.

A deductible payment is required (like other insurance products) at the time of service that you pay to the repair person. The repair person then will invoice the warranty company for the balance of the payment. Some people have a negative opinion or have had a bad experience with warranty companies. This usually is because they didn’t follow the procedure.

Other people have used home warranty plans successfully. One buyer had an air conditioning unit fail the first year as a new homeowner and called the warranty service company. The buyer then called the authorized repair person and had the fixes made in a day or two, and only paid $75 as a deductible. There are quite a few warranty companies. Your Realtor can recommend one to work with, or you can search online. Remember, each one is different. The prices for warranties and deductibles will vary. The list of covered items also will vary, so do your homework.