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  • Jun 24, 2021
  • By NextEra Home

When Can You Purchase a Home Warranty?

A home warranty can be purchased at any time for any house you own. While a seller or buyer usually purchase a home warranty around the time of the real estate transaction, a homeowner can purchase or renew a home warranty at any time.

What is a home warranty plan?

A home warranty is designed to protect you financially in the replacement or repair of major appliances and home systems. Home warranties are usually structured as a yearly service contract. A home warranty covers breakdowns that occur resulting from normal wear and tear.

Home warranties typically help cover the main components of your home systems: electrical and plumbing systems, air conditioning and heating. They may also cover major appliances such as your oven, refrigerator, washer, dryer and garbage disposal, etc. With NextEra Home warranty plans, you can also add items like septic tanks and central vacuums.

A NextEra Home warranty plan offers the most comprehensive coverage for your appliances and home systems of any plan on the market today. We also offer one of the lowest service fees at $75 per service call.

What's the difference between a home warranty and home insurance?

Home insurance is different from a home warranty, chiefly because it only covers damages or loss due to unforeseen events, like flooding, fires and extreme weather. Home insurance will not protect you against the daily wear and tear and the breakdowns that occur over time from the natural aging of your home’s systems and appliances.  

So, the difference between a home warranty and home insurance is fairly simple. A home warranty generally covers things over which, for at least a long period of time, you have some control over. With regular maintenance, you can extend the life, lessen breakdowns and make needed repairs less frequent on most of your appliances and some of your home systems. Regular maintenance also makes them more efficient.

Unfortunately, you can’t stop a hurricane, a flood, a blizzard or a flood. So, a solid home insurance policy is smart. Complementing it with a solid home warranty is just smarter.

Do I Need Home Insurance and a Home Warranty?

Generally, a home warranty will pick up where home insurance leaves off. But where it leaves off comes as a surprise to many. This is why the cost and headaches of repairs and replacements gave birth to the home warranty.

With both a home warranty and home insurance, you protect your house and the machinery that keeps it running and comfortable. If a natural disaster occurs, the structure of your house (floors, walls, windows, etc.), along with all of your major appliances and home systems can all have coverage.  And since home insurance won’t cover the inevitable breakdowns that occur with home systems and appliances, having both is a smart way to protect your budget.

Depending on the home insurance and home warranty plans you select, there should be little to no overlap in coverage. In general, a home warranty should complement your home insurance policy with no redundant coverage.

What does a home protection plan cover?

A home protection plan covers the same items covered in a home warranty plan. It is basically just a different term for the same type of coverage.  

Is home warranty coverage optional?

Yes, a home warranty is entirely optional. Only home insurance is required from banks, mortgage companies and other financial institutions and during the time of a home’s purchase.

Get a free quote on a home warranty from NextEra Home.