SKBlogs.com

Home Warranties! What do they cover…and what don’t they cover for your new Nashville home?

In preparing your purchase contract, I always ask the seller to provide a home warranty for you. And most of the time they agree. But exactly what is a home warranty and what does it cover?

Basically, it’s an insurance policy. I’ve seen home warranty companies put in a whole new HVAC system without question…but, I’ve also seen them deny a tiny claim that I felt should have been covered.

The procedure is this:

In the event of a problem with any covered item, you will call the toll free number that you were given at closing. This will file your claim. The warranty company will then send out their chosen representative (repairman).

And, just like health insurance…sometimes the issue is considered to be a pre-existing condition, which will most likely not be covered.

Never attempt to repair anything yourself! This will void your claim. If they determine that you (or anyone) has tampered with or tried to fix the problem, they will usually deny the coverage.

If the representative determines that you have a valid claim, the repairs will be made…minus your deductible! This amount varies according to the policy. Deductibles are usually in the $50-$75 range.

This is the available coverage for Nashville real estate. Other areas of the country may have different coverages available…with different prices.

Most warranties cover these basic items:

* Electrical System

* Plumbing System

* Heating/Air Condition System

* Telephone Wiring

* Whirlpool Bath Motor and Pump

* Dishwasher

* Kitchen Refrigerator

* Water Heater

* Ceiling Fans

* Toilet Tanks and Bowls

* Attic and Exhaust Fans

* Ductwork

* Oven/Range/Cooktop

* Circulating Pumps

* Instant Hot Water Dispenser

* Sump Pumps

First Class Upgrades are usually available:

* Faucets

* Shower Heads

* Heating Registers and Grills

* Window A/C Units

* Smoke Detectors

* Garage Door Openers

* Refrigerator Ice Maker

* Disposal of Freon

* Pools and Spa Equipment

* Washer and Dryer

* Well Pump

* Septic Tank Pumping

* Some Roof Leak Coverage

Coverage for Buyers begins at closing and continues for one year. The warranty company will, in many cases, give you the option of continuing the coverage for additional years. This option usually comes by mail before your first year is over.

Sellers can also take advantage of some coverage while the house is on the market. This applies if they sign up for the warranty when the property is listed. Be sure to ask your listing agent about this.

I always enjoy hearing from you, so please contact me with any questions you have.

Pam Rumley is a veteran real estate broker in the Nashville, TN area. She is a true Exclusive Buyer’s Agent, which means that her office never takes listings.

For more information, visit her comprehensive website http://www.NashvilleRealEstateAuthority.com

Possibly Related Posts:

• Real Estate Investing without Cash
• Cheap Property is the Only Property Worth Buying
• What to Know Before You Buy
• Making an Offer on Real Estate
• Choosing the Right Neighborhood for You