Maryland Home Warranty

Taking the step in purchasing a Maryland home is a major investment. Whether selling or buying a home, itÂ’s nearly impossible to predict when problems may arise.

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Information about Maryland Home Warranties

Making the move in buying a Maryland home is a significant investment. Whether buying or selling a home, it is virtually impossible to know when problems could arise. Unplanned home and appliance repair expenses can very well increase the strain on a family budget. Aside from homeowner's insurance, which provides you with financial protection against natural disasters, home warranties are more specific.

The majority of standard Maryland home warranties cover heating and cooling systems, plumbing, electrical, and major appliances. Some may also insure you for roofs, private septic systems and wells too. Warranty quotes normally cover these systems regardless of how old or what the make and model is. Home warranties provide for the repair or replacement, for a full year after closing on a home, and existing Maryland home's covered systems that break down during normal wear and tear. The following information is provided to help you select the home warranty company that is right for you.

Find out how long is the home warranty coverage plans available in Maryland.

The majority of Maryland home warranty policies are good for one year and contain an option to renew after that. Normally, this cost is higher than the initial warranty fee. Ask each company what their present rates for renewal are and compare these rates with those from other warranty companies.

Co-payment Information

A co-payment is the money that the consumer would pay if a repair contractor is needed and makes a repair to a system. Warranty co-payments are very much like health insurance co-payments although warranty co-payments will vary.

Ask whether the warranty provider has covers service contractors located in your Maryland area.

It is important that when problems arise from an item covered under your home warranty that there is a service representative on hand to make the repairs. Ask your warranty company about the types of service contracts they cover that are specific to your geographical location.

The benefits of a home warranty for sellers

Some may question whether it is a waste of money to buy a home warranty if the home is scheduled to be sold in the near future. This is most definitely not the case. A home warranty makes your home actually more attractive to possible buyers, especially when the appliances and systems in your Maryland home are older. Providing a home warranty as part of the selling package offers some advantages for potential buyers. The price of a home warranty is minimal and can generally be paid out of the proceeds from the sale of the home at closing. Besides the additional selling feature, a home warranty will normally protect the Maryland homeowner against expensive repairs during the time that the home is on the market.

The benefits of a home warranty for buyers

Once the initial cash investment required for closing is made, the thought of unanticipated repair expenses shortly after can be a huge burden. A lot of times, a home warranty can be a good negotiating tool between buyers and sellers. Warranties provide protection for buyers from the expense of large repairs.

Determine if a home warranty is right for you

In a home with newer systems and appliances, a warranty might not be necessary, other than for general peace of mind. For homes that are over 5 years old however, a home warranty is a smart consideration. The older the home, the better likelihood for unexpected repair and replacement expenses should provide strong consideration for buying a good home warranty. The cost of a warranty and the deductibles is far less than what it would cost for major system replacements in the home.

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