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Most home buyers and sellers find buying a home warranty to be an effective way for all parties to mutually benefit from a home protection plan. Whether you buy, sell, or rent property, buying home protection plans are an ideal way to access a network of licensed and qualified professionals. Buying a home is usually the biggest purchase of your life and making sure the property is covered from unforeseen repairs is typically a must-have for most homeowners particularly first-time home buyers with no experience maintaining a home.

Home sellers eager to sell their property but also protect it from major damages during the selling process are increasingly buying one-year home warranty plans as part of the home sale offer. As a way to protect a property from damages while the home is listed for sale, real estate agents are also interested in purchasing home warranty plans. They may also purchase a plan to entice or thank the home buyer as well. To help protect the property while renting, rental property owners can receive optimal protection of the home while also shouldering those home protection plan costs to the renter.

While home warranty companies offer ideal protection for the property and appliances you value most, you should still conduct research on the type of coverages home warranty companies offer to ensure their protections are covering your needs.

Depending on which state and city you live in can determine the coverage options the home warranty companies are offering. Not all plans provide nationwide coverage and different home warranty companies offer various coverages based on locations. Also, make sure you check the waiting period before your coverage starts to ensure claims are covered when you need them.

Prioritize which appliances and home systems that you need the most and make sure they're covered under the policy you're considering. Check the age and wear and tear of the vital systems and appliances and compare them to the coverage options to ensure the plan includes older appliances and home system repairs and replacements.

Every homeowner has different priorities when it comes to protecting different aspects of their property. If you're only interested in covering a few general appliances, see if there is a customizable plan in order to only pay for the coverage you want. Also, getting additional features such as a spa, pool or roofing plans covered is another aspect to consider.

No matter which appliances or home systems you want covered, speaking to a home warranty agent to discuss all the coverage options will help receive all the needed coverage you seek without paying for unwanted services. Moreover, talking with home warranty agents on special deals and discounts can also payoff. Some of the best home warranty companies offer seasonal promotions or price markdowns if you pay an upfront lump sum or buy coverage longer than one year.

The amount of home systems and appliances home warranties cover is nearly endless. If it's in your house and needs maintenance to be repaired, having home warranty coverage will offer protection to avoid unexpected repair costs.

Home systems and appliances typically covered under home warranty coverage include AC, cooling, heating, plumbing, electrical, water heater, ductwork, plumbing stoppage, roof leaks, septic tanks, central air conditioning, central heating, interior electrical systems, clothes washer, garbage disposal, refrigerator, stove/oven, built-in microwave oven, cooktop, dishwasher, clothes dryer, humidifiers, garage door opener, and ceiling fans.

Typically, a new home buyer will buy a home warranty plan while completing the purchase of a new home, but home warranty plans can be bought by new and existing homeowners.

If a homeowner declines to buy a home warranty plan as they finalize the home purchase, there is no time limit on when they could buy a plan at a later date.

While home warranty costs can vary depending on the size and location of your property, a home warranty typically costs around $200 which is paid in a lump sum during the due date for the collection of closing costs. If need be, the homeowner does not need to be the purchaser of the home warranty. The home seller, real estate agent, family member, or friend is able to buy a home warranty for the homebuyer. However, when an insurance claim is filed for a home appliance issue, the homeowner could be responsible for paying a service fee or deductible usually ranging from $50 to $100. Those fees and other contract agreements can vary depending on which home warranty company is offering the plan.

Filing a home warranty insurance claim is not a difficult process, but there are steps you need to take in order to properly complete the procedure to receive a claim

Before beginning the process of filing an insurance claim regarding your home warranty, review the insurance contract to make sure your plan properly covers what needs to be fixed or replaced. After you contact the home warranty insurance company to file a claim, here are the next phases of the process. The warranty company will review your insurance contract to verify whether the plan covers the item being claimed. A local contractor will be contacted to set up an appointment to come out and determine the extent of the problem. The contractor then contacts the home warranty company to inform them of the issue and their recommendation on mediating the problem. Once the proper measures to correct the issue are determined, the needed repairs and replacements will begin.

Customers will then pay a service fee to the warranty company to complete the necessary work.

If a claim is denied from the home warranty company, contacting the real estate agent who helped broker the home warranty plan may be your only course of action. With real estate agents often dealing with home protection plans, they often have a working relationship with the home warranty company and can act as mediator to help resolve the issue.

Now that you know the ins and outs of how home warranty coverage works, taking the time to find the right coverage options for you and purchasing a plan can help lessen unexpected costs later. Overlooking the peace of mind you'll experience knowing your major home systems and appliances are properly covered is often forgotten when renting or owning property. Over the course of your home ownership, unexpected costs are bound to occur no matter how well you maintain the property. Don't get caught off-guard with unnecessary repair costs again, purchase a home warranty today to ensure optimal protection for your property.