Home Warranties Are Becoming Increasingly Popular - Here's Why

Home Warranties Are Becoming Increasingly Popular - Here's Why

Daniel Hall 02/08/2022
Home Warranties Are Becoming Increasingly Popular - Here's Why

The last thing any homeowner wants is something wrong with their home.

Whether it's a leaking roof, a broken furnace, or any other repairs, dealing with unplanned home repairs can be a major headache – not to mention, they can be expensive.

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That's why an increasing number of homeowners are opting for home warranties. A home warranty is a service contract that covers the repair or replacement of major home systems and appliances. Essentially, it's a safety net for your home, and it can give you peace of mind knowing that if something goes wrong, you're covered.

There are several reasons why home warranties are becoming increasingly popular. They include:

1. Better Coverage Options

Another reason home warranties are gaining in popularity is that they now offer better coverage options. In the past, home warranty companies only covered a limited number of items. However, today, many companies offer comprehensive coverage plans that include everything from major appliances to your HVAC system.

Before deciding, consider different home warranty companies and their coverage options. Check out the 1 year home warranty cost to get an idea of what you can expect to pay. This will help you find a plan that meets your needs and gives you the peace of mind you need. The home warranty companies that offer the best coverage options are usually the most popular.

2. Rising Home Prices

As you may have heard, home prices are on the rise. They have been increasing steadily for the last few years. This has led to several concerns among homeowners and potential homeowners alike.

Some people worry that this trend will continue and that they will never be able to afford a home. Others are concerned that the high prices will lead to a housing bubble burst – which could cause major financial problems across the country. With a home warranty in place, you can feel confident knowing that you won't have to bear the full brunt of these costs if something goes wrong.

3. More Complex Homes

Another reason home warranties are gaining popularity is because homes have become more complex. Today's homes often come equipped with various high-tech features and appliances. While this can make for a more comfortable life, it also means more things can go wrong.

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A home warranty can help relieve some of the stress of owning a complex home by covering the cost of repairs or replacements. This can give you peace of mind knowing that you won't have to worry about these costs if something goes wrong.

4. Improved Customer Service

In the past, home warranty companies were often criticized for their poor customer service. However, this has changed recently, and many companies offer excellent customer service. This is another reason why home warranties are becoming more popular. When choosing a home warranty company, research their customer service record. You can do this by reading online reviews or talking to friends and family who have purchased a home warranty in the past.

5. Increased Availability of Home Warranties

More and more homeowners opt for home warranties to protect themselves from costly repairs. Home warranties are service contracts that cover the repair or replacement of major home systems and appliances. And while they may seem like an unnecessary expense, there are several reasons why they are becoming increasingly popular.

One reason is that home warranties are becoming more readily available. You can purchase a home warranty from various sources, including your insurance company, your real estate agent, or even online. This makes it easier than ever to get coverage for your home. Another reason is that home warranties' cost has decreased in recent years. Many companies now offer free or discounted rates for the first year of coverage. This can make them a more affordable option than you might think.

6. Increased Flexibility

If something goes wrong with a covered appliance or system in your home, a home warranty company will send a technician to diagnose and (hopefully) fix the issue. But what if you're not home when the technician comes? In the past, this was often an issue with home warranty companies. You would have to take time off work or make other arrangements to be there when the technician came.

Nowadays, however, many home warranty companies offer increased flexibility by allowing you to schedule appointments online. This means you can choose a time that works for you rather than work around a technician's schedule.

While home warranties may not be right for everyone, they are becoming increasingly popular. This is due to several factors, including the increased availability of home warranties, the rising cost of homes, and the improved customer service offered by many home warranty companies. If you are considering purchasing a home warranty, compare different companies and their coverage options to find the best fit for your needs.

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Daniel Hall

Business Expert

Daniel Hall is an experienced digital marketer, author and world traveller. He spends a lot of his free time flipping through books and learning about a plethora of topics.

 

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