Should You Buy a Home Warranty in Knoxville?

To buy or not to buy a home warranty in Knoxville seems to be a tough call. Home warranties can be valuable, but they aren’t for everyone. The majority of homebuyers will never have to use the coverage offered by a home warranty. The flip side is you can lose thousands of dollars if something goes wrong.

Therein lies the problem. Do you pay extra up front in hopes that you won’t need it and will never file a claim? Or do you buy coverage and risk spending more money on top of what you just spent on your new home? This article breaks down the pros and cons of purchasing a home warranty.

5 Reasons to Consider Buying a Home Warranty in Knoxville

1. Peace of Mind

You’ll have peace of mind knowing that your home is protected. If anything goes wrong with your home systems or appliances, the warranty will cover it. You won’t have to worry about paying for expensive repairs yourself or making monthly payments on an appliance that isn’t working correctly.

2. Mitigate Unanticipated Expenses

If you have a significant issue with your appliance, it can cost thousands of dollars to fix or replace it out of pocket. But with a home warranty, most repairs will be covered by your plan, which means you won’t have to worry about paying for unexpected repairs if something goes wrong with them during your policy term.

3. Take Note of Coverage Gaps

Home warranties also have coverage exemptions. For example, they typically don’t cover damages caused by neglect or abuse and normal wear and tear on items like air conditioners and furnaces.

4. It Provides Convenience to the Homeowner

A home warranty saves you time and effort when your home systems experience an unexpected breakdown.

You contact the company rather than spending hours researching a service company and getting prices. The home warranty company will do the work of finding a qualified technician and arranging for them to come out to your house and make repairs.

5. Service Fees

Although home warranties cover many repairs, they do not cover all expenses. Typically, you will need to pay a service call fee for any incident requiring a technician’s visit, ranging from $50 to $100. Additionally, if an incident involves more than one type of technician, you may have to pay a fee to each of them.

The Bottom Line

If you’re bothered by the chance that something might go wrong in your home, you’ll probably want to buy a warranty. However, if you’re confident enough to find and deal with any issues on your own, then it’s probably not worth the cost.

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