The kids were distraught when our Nintendo Wii System went out on us RIGHT when Summer hit. When I checked with Nintendo, they stated our system was no longer under warranty and that I’d have to pay full price to repair. Bummer.
To be honest, every time I buy an electronic device, new in store, I rarely purchase the warranty option. Why? Because it’s brand new and I have never had problems with new items. So, if it DOESN’T work, I could just return to the store I bought it. What happens, however, when your appliances around your home stop working? In my family, for instance, that’s a BIG out of pocket expense that we just can’t afford. We don’t have a Texas home warranty and a lot of young families, like my own, may not know the difference between having home owners insurance and having a home warranty. Do you?
We have moved around SO many times due to my husband’s work. Each time we moved, we were faced with renting, yet another, home. Buying was never an option because, for all we knew, we’d be transferred to another city in a year.
With each move, the question, we asked ourselves, was Do we need renters insurance? What would we do if a natural disaster, fire, or burglary occurred? Well, we’d lose everything. It was not something we’d ever be prepared for.
Today, as we look into buying the home we are living in now, I’ve been looking into the differences between Home Owner’s Insurance and Home Warranties. The biggest difference is that homeowners and renters insurance cover the possessions in your home or apartment against damage due to fire, smoke, lightning, theft, vandalism, explosion, windstorm, water, and other disasters listed in your policy. A Home Warranty, such as American Home Shield, is a service contract that covers the repair or replacement of many of the most frequently occurring breakdowns of certain home system components and appliances.
Breaking it down in simple terms? It’s like buying that extra warranty for the Wii System. When the big appliances and systems in your home break down the home warranty will cover it after small co-payment like fees incur.
It’s that simple.
Now do I have experience with home warranties? No. So, I come to all of you and ask the question… Do you have a Home Warranty and is it worth it?
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