HMS National Home Warranty is a large company, and as such their approach to the home warranty market is to aim for real estate agents, property managers and individual homeowners. The value of such warranties is much better calculated as a good addition to the sale of a home, rather than a service that existing homeowners would want to purchase. However, when large property management systems offer a warranty as part of the purchase of a new home, it makes the investment seem safer, since all big replacement and repair bills are theoretically covered through the first year of ownership.
Great Value for Home Sellers
Home warranties are pitched by preying on the fears of a large repair bill. The number of systems in your house that you couldn’t fix yourself has multiplied over time. If nothing else a warranty claims to offer people the peace of mind that if a system breaks you can get it repaired or replaced without having to bear the financial burden in the moment. But the number of exceptions, loopholes, conditions and limitations make it seem unlikely that such a warranty is a good investment.
Protection Beyond Insurance
The home warranties offered by HMS also provide value for the home owners. Home insurance policies are notoriously complex, and the elements that are covered can be limited or unclear. That means that a home warranty to supplement your insurance policy will assure you of complete protection in the event that the worst happens. Don’t let a major appliance failure or structural issue cause you stress and worry, or let it drain your bank account. Home warranties offer a valuable opportunity to protect your whole house, including the aspects of your home that your insurance just doesn’t cover. Make sure you do a good comparison of your home insurance policy to the warranty you’re considering to maximize your coverage.