To a homeowner, an extended home warranty is more than just a simple piece of paper. It provides them with peace of mind. According to a report done by the University of Illinois Extension, homeowners should allocated 1 to 2% of purchase price to cover the costs of unforeseen repairs. While that doesn't read like much, those costs eventually add up, usually between $4,000-$8,000 a year, which can can be a significant hit on a household.
Extended home warranties vary, so make sure you know what your warranty covers. Here are some of the most common damage issues extended home warranties cover.
1. Heating/Cooling Issues- The typical life span of an HVAC system is 25 years, while furnaces and air conditioners last 15, but that is not without proper maintenance. To avoid larger repairs, make sure you keep up with simple maintenance upkeep.
2. Roof Damage- One area that can come with a hefty repair bill is your roof. Heavy snow, wind, and heavy rain can have long term effects on the condition of your roof. In order to protect yourself from a bill that will cost you thousands of dollars, make sure your extended home warranty covers roof damage.
3.Water Damage- Water damage is nearly unavoidable if your foundation is cracked. Aside from taking preventative measures, like cleaning out the gutters before a large rain storm or clearing snow away from the bottom of the roof, having a home warranty will help ease the pain of water damage.
4. Windows- Faulty windows can cause a string of problems within the household such as water damage and heat loss. Check regularly for peeling paint cracks or chips in the glazing and have them immediately repaired to prevent further damage to the home.
If your interested in extended home warranties, there’s no time like the present to begin investigating partnerships with underwriters. Our personal preference, of course, is The Warranty Group—a full service extended warranty provider that has the professional acumen to match any company’s needs. And in today’s market, it’s difficult to find a more prestigious or well-groomed set of products
To learn more about The Warranty Group, its resources, and the products it can put in front of your customers, please visit our website at www.thewarrantygroup.com