Home warranties are service contracts that cover major home appliances and systems in case of malfunction from normal wear and tear. They are distinct from homeowners insurance, which covers sudden damages from accidents or disasters. On average, a home warranty costs between $400 to $1,000 annually, with prices influenced by the home's location, size, and coverage plan. Additional costs may include a service fee for repair requests, contributing further to overall expenses associated with home warranties.
On average, a home warranty plan costs $62.33 and will help to cover the repair or replacement of major appliances due to normal wear and tear.
A home warranty is a service contract that helps cover the major systems and appliances in your home. If something stops working due to normal wear and tear, the warranty can help pay to repair or replace it.
Home warranties are often confused with homeowners insurance, but they serve different purposes. Homeowners insurance covers sudden damage from accidents or natural disasters, while a home warranty focuses on issues that happen over time.
On average, a home warranty typically costs $400 to $1,000 per year, covering the annual premium. The exact price can vary based on your location, home size, and the coverage plan you select.
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