Long and Foster Home Warranty is a traditional home warranty provider. Originally, most home warranties were essentially service contracts, designed to provide short-term coverage for repair or replacement of major systems and appliances. Specific coverage is based on the terms and conditions of the plan you select and the items you elect to cover. As with all forms of insurance, the major considerations for choosing the appropriate policy rest with your specific vulnerabilities and the balancing of risk and cost.  Owning a home can be fraught with enormous expenses that can occur be triggered at unpredictable times. These are usually expenses that can’t be put off until it is financially convenient.

The Appeal of the Warranty

Some new homeowners are willing to purchase this type of warranty so that they can have the peace of mind associated with insurance coverage against any type of system failure or breakage. 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.

There are Some Limitations

For one example, service providers are chosen by the warranty company. Most companies point out that homeowners don’t know which service providers are legitimate. Your ignorance is their gain – they have already chosen the providers and you must use their network to receive service. If the homeowner disagrees with the provider and would rather have their system replaced to avoid another repair charge, the decision is not up to you.