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United Real Estate Indianapolis

1425 E 86th Street Suite 200

Indianapolis. IN 46240

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Should You Have a Home Warranty?

Today is National Home Warranty Day. (It seems that everything has it’s “Day” nowadays…)


How should you celebrate this big day!?


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Ok, maybe not with a dance party, but it's a perfect opportunity for me to give you the real deal on home warranties.


So, what is a home warranty?

A home warranty is not the same as homeowner’s insurance. And homeowner’s insurance is not a home warranty.


Insurance is pretty much something everyone has. If you have a mortgage… you are required to carry homeowner’s insurance. Even if you don’t have a mortgage, most people have an insurance policy. Insurance covers the major catastrophe type of stuff — like fires and theft.


Warranties are not something everyone has. These cover things like appliances, furnaces, plumbing, and air conditioning, if they need repair or to be replaced.


Are home warranties worthwhile?

I’m not going to say they aren’t good and worthwhile, but they aren’t a “fix-all”. Literally or figuratively.


They have their place. They do people some good. They can literally be a life-saver for some people, in some circumstances.


When something breaks in your home, the price tag to fix it or replace it can be way more money than you might have sitting around.


So, the hundreds of dollars of cost per year for a home warranty may be worth spending.


Just know that you will also most likely have to pay a service visit fee when you have an issue. Usually around $75-100. But on most warranties, that is all you would pay for the repair or replacement of the item.


But I have heard complaints about warranty companies not covering things, taking a long time to respond or approve repairs, and continuing to try and repair something that should be replaced. There is a certain amount of patience and persistence to getting things covered and done at times.


My best recommendation…

The best thing to do is reach out to me if you are curious to know more about whether a home warranty is right for you or not.


As with so many things in real estate, it depends upon your specific situation. I can’t recommend that you even buy one at all or not, without knowing more details…let alone give you a recommendation as to which company to choose.


But I certainly would love to give you my thoughts before you buy one, rather than after.

So, please, feel free to reach out to me, so I can help you make the best decision, or avoid a costly mistake.



P.S. One more thing to consider!!!

Do not buy one if you are thinking about selling your house soon. Many warranty companies will provide one to you for free during the time your home is on the market for “free”. Not technically free, because you will pay for it at closing. But free until and unless you sell your house, at which point it will transfer to the buyer. And you are covered during that time. It can be really handy if something goes wrong while you are on the market.


But “soon” is relative… So let me know how soon you are thinking of selling and I can let you know if you should hold off, or buy a warranty between now and then.

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