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You are here: Home / Buyers / Understanding Home Warranty Coverage

Understanding Home Warranty Coverage

December 11, 2015 By Raymond Stoklosa

Home Warranty policies are contractual guarantees to repair or replace certain systems and/or components that malfunction within the time limits set forth in the contract with the payment of a premium and deductible. Essentially, home warranty protection programs are insurance against the limited risk of loss due to the malfunction or breakdown of specifically described systems, structural components and/or mechanical equipment contained in a home or on the property. Here is what you need to know about home warranty coverage in Austin, TX.

What Do Home Warranties Not Cover?

understanding home warranties buying home austinHome Warranty Plans cover different things and to varying degrees of protection. No home warranty covers everything. An insurance company is not going to re-build your home for $600.00 and a service charge. Understand that home warranty coverage is limited and No Home Warranty Covers:

  • Known pre-existing conditions
  • Mold or mildew problems
  • Items that were improperly installed
  • Cosmetic defects
  • Inadequate capacity
  • Previous or attempted repair
  • Missing parts
  • Secondary damage
  • Service involving hazardous or toxic materials (i.e. asbestos, radon)
  • General maintenance
  • Normal wear and tear

Home Warranties Are Available for Buyers and Sellers

There is home warranty coverage available for both sellers and buyers. Plans vary in cost, coverage and duration.

Know What’s Covered and What’s Not Covered

Read carefully both what is covered and what is not covered in the materials provided by the various Home Warranty Companies.

Home Warranties Can Be Good Insurance

In our opinion home warranties – for the relatively small cost – can provide a huge savings should a major system or component fail. All Home Warranty Protection contracts are different, and should be reviewed by an attorney if you have any questions.

Buying a House? We’ll Help You Negotiate a Seller Paid Home Warranty

Our job as Buyer’s Agents is to help you negotiate the best deal on a home possible and that includes terms of the sale, not just price. When we represent you on the purchase of your home, we will fight hard for things like seller paid home warranties. When you’re spending thousands to get into a house, a home warranty can give you piece of mind knowing for a service call fee, (usually $75-$125) most of the major appliances in your home will be fixed or replaced. Getting the seller to pay for this coverage is pretty much free insurance.

Thinking About Buying a Home in Austin?

Let us help you navigate your way through the process. We’ve helped hundreds of buyers in all price ranges and can help you too. Check out our Austin Home Buyer Representation Program to learn how we’re different than your average Realtor. Then, call us at (512) 827-8323 or email us at info@11OaksRealty.com to schedule a no obligation consultation.

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Filed Under: Buyers Tagged With: Buyer Beware, Buyer Tips, First Time Home Buyers, Frequent Buyer Questions, Home Warranty

About Raymond Stoklosa

Raymond has been a respected authority in residential real estate since 1978. Having sold more than $150 million worth of property, in a variety of high-intensity markets, he possesses a noteworthy portfolio of success. A former real estate instructor, Raymond brings a passion for education to the real estate process. With an uncompromising attention to detail, he counsels clients to a well-informed business decision. He takes particular pride in assertively negotiating for the client's best interests. Raymond has earned elite professional designations from the Certified Residential Specialists (CRS) and Accredited Buyer Representative(ABR) of the National Association of Realtors held by fewer than 4% of the agents in the industry.

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