For many homeowners, the peace of mind of a home warranty is well worth the premium. But do all homeowners need the protection? Unless you’re willing to conduct some serious financial analysis, the answer is not always clear. Thanks to a team at Reviews.com put together a comprehensive resource that debunks common misconceptions of what a home warranty policy does (and more importantly, doesn’t) cover. You can see their full review here, http://www.reviews.com/home-warranty/.  In December 2017, Retirement Living Information Center also did an evaluation of the 10 most well-known home warranty providers and presented what they felt were the top three.  Here is a link to the results:  https://www.retirementliving.com/best-home-warranty 

 

The following infographic was created to help homeowners visualize the maintenance needs and replacement costs associated with common appliances and systems.

 

One question homeowners often have is whether or not their existing coverage, or the coverage that came with their individual appliances, overlaps with their home warranty. Gaps in coverage can end up being extremely costly — whereas paying for too much coverage is a waste of money, as well. Make sure to check your home insurance, home builders warranty as well as manufacturers warranty to determine what is covered. Looks for the gaps in coverage and establish how best to fill them.